Omaha daily bee., 1906-08-17
NEW YORK. STOCKS AND BONDS
Union Pacific and Southern Pacific the
Center Of an Exciting Day.
EXPECTED DIVIDENDS NOT ANNOUNCED
Heavy ReaIisinG Follows and Close IL
Unsettled and IrreEular-Rste
for eau Loans ~
Higher.

NEW YORK. Aug. i6-wall street spent
a day Of feverish impotence in the ex-
Peetation OF seeing the solution Of the rid
de Of the excited speculation in Union r. Pa
ment continued at high pitch in those
stocks. 1t was initiated by the delays in
the Sssson e e the the Question: 81
on the two stocks, AS $50 lie the usual
hour OF the assembling Of the committee,
approaching a elimination as that time
drew near. The delay was explained as
being due to tho attendance OF the mem
were forthcoming as the delay was pro
ionged The day passed without solu-
ton Of the riddle The gnifor y, ed s spT.
was somewhat dared by this course OF pro-
cedure. The movement Of the stocks, how
eSe sSoSed but ssn fsS%
strength was attributed to a conviction that
a decision OF the dividends to be paid had
ment was withheld, The market fell into
intense dizziness during the midday period
Speculative feeling continued at a high
tainty as to what the action Of the market
would be after the expected good news was
out. Confidence in the action to be taken
influence nee on ' any scattered skepticism. But
on the subject of how the market would
act II speculative hopes were al fnIni1ed
Hence the mid-sesslor halt in the trading
and the sagging tendency of prices. The
ing influence on any disposition to run into
speculative excess The average rate for
call loans during the day was higher than
Punishment Of local money supplies The
largest part of this was shown IN the pay
ment by the sub-treasury of s2S1o0oo trans
and which was on account Of Australian
gold, consignment of which was received
in San Francisco on Tuesday. Regular
aaa IN-tra Inn oil
something to the banks with the month s
pension payments running at the flood tide.
on the other hand. the deposit q A;0o;oOO
fer to St. Louis was of sensational effect
as a distinct evidence C. the force of the
harvesting demands which may be counted
York when once IT is under way. The hg-
ures Of the foreign trade for JULY were
although the Future movement of the crops
Is largely dependent upon to move gold
in this direction; The expansion OF up
imports and the relatively small growth
in exports leaves the excess value OF ex-
ports. for the month only ss.s2SsS9 as com
pared with S23, H7,Si5 in July Of last year.
The strength In Pennsylvania made an
active market for the convertible bonds OF
Of 1"i the sysscate When II was dissolved.
The reaction In prices which followed the
announcement that no dividend action
would be reported from the Union Pacific
and Southern Pacific meetings was resisted
The view was apparently taken that the
stocks were In a stronger position with
! the mystery still on than II formal an
nouncement OF dividend action had been
! made The action OF the st. Paul direc-
tors IN offering the $4,000. 900 OF treasury
stock to stockholders at par thus confirms
a long standing expectation encouraged con
fdence In the dividend hopes on the Pa
| cifcs. There was heavy realizing just
at the last In Southern Pacific and the
closing was in consequence unsettled and
| irregular.
! Bonds were irregular. Total sales pal
value $2350,Ooo United States bonds were
, all unchanged on call.
; The following arc the quotations on tho
Stock exchanges: