Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-01-16
NEW YORK STOCKSAND BONDS
Upward Tendency Of Prices Continues and
Early Market 1, Broad.
REACTION COMES IN THE AFTERNOON
There IL n slight Rally Late In
the session and the Close
Is Fairly
steady.

NEW YORK. Jan. l5.-The upward ten
oency OF prices was continued In todays
stock trading, but the movement dinused
into some outlying quarters Of the market
remote from the usual Centers of activity.
There was a conspicuous showing OF a
lance as cats and d dogs" r The reac6ing OF
speculative movement into the depths of
the stagnant portion OF the list only oc-
ours In periods Of great speculation. 1t Is
Viewed with dissatisfaction among expert
enced spectators owing to the fact that
1t Is feature of the elimination OF every
prolonged speculation. During the present
speculation, however. stocks of this class
have already been secured several times
without marking the elimination of the
upward movement of higher grade stocks.
The tradition of the Significance of their
awakening therefore loses some OF its force.
The turning from the demand today into
the stocks of the lower grades was much
more conspicuous In the MISCELLANEOUS
stocks than in the low grade railroad
stocks. The sustaining forces in the latter
department were still for the most part
among the high class securities. The north
western grangers and Pacif1cs were notable
western and its subsidiary stocks and st.
Paul. all rising notably. There was con-
tinuance OF very extensive proht-taking
which characterized last weeks market.
The opening of the week brought in
considerable volume of new outside de-
mand, and this was taken advantage of to
lessen the accumulations which were piled
up by spectators during December. Inc
very large transactions for the account OF
single individuals were taken 10 mulcate
that some of the heavy operators were tax
ing their profits on large lines of stocks.
Operations of the same class on the buying
side were traceable in the stocks which
made new advances, and this caused the
suppositon that speculative accounts were
being transferred on large scale from
stocks on which large profits have accrued
into those which have moved but moder-
ately hitherto. The profit-taking was es-
pecially marked in the southwestern Pa
cities, Copper and some of the coalers:
The news of the day to account for any OF
the movements was very scanty beyond
the continued relation in the money mar
ket. The approach of the time for the
dividend meeting on Amalgamated Copper
Keeps alive very active surnlse on tne
probable rate and Union Pacific was also
affected by dividend conjectures. The slug
gishness of the coalers may have been que
in part to the assembling OF the Mine
Workers convention. Foreign markets
took tranquil view of the Morocco con-
ference upon the eve OF its converting.
Discounts hardened trife, however, IN
London and Berlin and sterling exchange
fell back fraction in Paris. Colo was
marked down in London. Foreign exchange
was firmer here. The refiux OF money to
this center, however, continues on such
large scale as to obscure the significance
of the foreign exchange market Suptreas-
ury operations have already contributed to
the market since the bank statement
A,47OOO. Time loans for sixty and ninety
days were made as low as per cent. The
strength of United States Steel preferred
was an offset to the prominence Of some of
the low grade industrials. The constant
profit-taking made more impression on
prices late in the day than at any other
at only slight rallies from the afternoon
reaction.
Bonds were firm. Total sales, par value,
$4,000. United States bonds were all un-
changed on call.
Quotations on the New York Stock ex-
change ranged as follows: