Omaha daily bee., 1906-05-18
NEW YORK STOCKSAND BONDS
Professional Limitations Of the Market
Again Clearly Define Themselves,
ANTHRACITE CoALtRs ARE HIGHER
Rest of the General List Has Tend
ency TO saE and Close ts
weak with some values
Lowest OF Day.

NEW YORK May 1.-THE professional
limitations of the current STOCK market
action Of touay's market. Varying tiuctua-
tons over narrowing range aud conse-
quent discouragcmeu u any paruc, pauon
outside of the most persistent profess onal
operations were the characteristics of the
ttaCI s.
Inc early dealings made a show of con-
siderable animation and carried an impress
sion of continuance OF brisk advancing
tendency of the latter part of yesterday
The adroitness of the display OF strength
pointed to skillful and veteran market
management. But ii was not so skllful
as to prevent the fact emerging with
glazing distinction i'm the short time that
strength yesterday were being diligently
fed into the market for the purpose Of
realizing profits, while the new points of
strength were sustaining prices by sym
pathy and encouraging the purchase by
new speculative elements Of the stocks
which were lifted to higher prices in yes
terdsy's dealings. The stock included
most Of those which were supposed to be
the favorite medium for operations by
advance yesterday was due TO the infiu-
enCe of the Anaconda annual report and
the expected statement by standard OIL
officials in reply to the ARA gnment of
the company by the commissioner OF
corporations. The professional element
adopted the inference that this powerful
group Of capitalists was embarked on a
campaign for a rise in prices. When II
became evident today that the same stocks
sional sentiment was thrown into guam
dairy again as to the attitude of the
Standard Oil party. Lacking light on this
important question the professional ele-
ment was not much impressed with other
news developments OF the day.
The strength was pretty strictly con-
fined TO the group of anthracite coalers on
the assumption that great benefits were to
accrue from the labor settlement for a
tacular advances were scored i'm the high
priced members of this group. The Penn
sylvania group was subject from the out
set to positive depression. which was
rather clearly traceable to the disclosure
ELECTED by the inquiry into the soft coal
carriers and by report that President
Cassatt contemplated retirement. Penn
sylvania has been heavy in tone since
the 100000 loan was an influence in the
market supplemented as It was by rumors
of additional borrowing to come. The
violent decline in National Lead on the
resumption of dividends proved rather
formidable to those who have bought other
stocks on an extensive rise in anticipation
of new dividend declarations or OF In
creased dividends.
More serious attention was paid to the
resumption of the currency outgo to Nan
Francisco Today's transfers to that point
| through the subtreasury rose to 2,27,-
900. and yesterdays explanation or a
special transaction lost it's force OF re-
assurance today. The movement is said
to be likely to reach considerable pro
portions again in preparation for the
early resumption of banking in San Fran
cisco, and also, 1t is believed on account
| OF the TeulttanCeS DN some OF the III
surance companies with the expiration of
| the thirty-day period after the losses
| The subtreasury accounting shows a
! heavy loss by the banks on the week 5
| operations, but as this is on account of
! the return of government deposits al
| lowed against gold engagements and Is
| made good by the receipt of the banks OF
! the incoming gold from abroad, the real
! position Of the banks Is not affected: Local
! money rates were not affected by the
| renewal of the movement to San Fran
| cisco. Foreign exchange rates were In
! clined to advance, thus Offering no suR'
| gestion OF resumption OF the gold I'm
port movement. Crop damage reports afs
! fected the wheat market and may have
! contributed to the unsettlement of stocks
| The sagging movement was as Irregular
| as Yesterdays hardening movement, but
| there was a general yielding at the last
| and the closing tone was weak.
| bonds were Irregular. Total sales PAL
value, $3.50 Od0 limited States bonds
were unchanged on call
| Quotations on stocks and bonds were az