Omaha daily bee., 1906-06-08
NEW YORK. STOCKSAND BONDS
Operations by Professional ORGANIZATION
Are Clearly DiSosrnabls.
MARKET IS sPOTN AND IRREGULAR
ReaIisinE sales Become Pro-
nounced Late In the Day
and Close IL Heavy
and Lower.

NEW YORK, June 7.-operations by a
professional organization were clearly dis
cernable in the stock market today and
total dealings. The Character OF the trad
ing made itself manifest by the concen-
trated nature OF the orders In individual
kind from one quarter of the market to
another. This accounted for the gpotty APP
pesrance Of the market and the Intervals
OF idleness between spurts Of activity In
one stock or another IL thus happened
that some OF the most prominent stocks
In the list were not brought into the move
ment at all, and the market showed no
comprehensive movement at any time. such
as Is evident when general public interest
is at work. The stocks which had come
into favor late in the day are the ones
generally that ended nearest the top level,
while. the earlier favorites were relegated
70 less conspicuous place or were carried
backward by the process of realizing
profits. The result Of the days profess
sional efforts to advance prices was re
so far as could be judged from the per-
sistence in the attempt and the expressed
in bringing in ultimately a demand to pro-
vide medium for realizing profits. Com
mission houses continue to complain OF the
absence. OF any such public demand and
OF dearth Of orders for execution in the
market.
The movements of individual stocks gem
orally had some Item of gossip to accom-
pany them, but these lacked official con-
hrmation and in some cases were clearly
BASED on SurfnlSe. 81. raul was sui DOuBnt
on belief in coming stock subscription
rights, and the known approach Of a new
issue Of New York Central stock already
authorized made the same explanation
available for the movement In that stock.
Union Pacific was the subject of rumors
OF a distribution on Southern Pacific from
which II would benefit by its large hold
ings. Illinois Central was affected by the
belief in a dispute for control OF the prop
erty. Reading and Amalgamsted Copper
moved under the influence of the OFTEN
repeated rumors and differences.
San Francisco sent another important
assignment of cash to New York by tele-
graphic transfer through sub-treasury ia
cilities, and foreign exchange rates made
further progress towards the gold export
Bankers admit that with continued now
of money from this center and easing OF
interest rates some OF the recent large
imports OF gold are likely TO be returned
did not meet the expectation that 1t would
reduce its official discount rate, and the
report of conditions sufficiently explained
why 1t did not. Sterling exchange at Paris
and Berlin also moved against London, ano
the Paris market was further disturbed by
the prospect Of the enactment of an in
come tax law. The further rise in wheat
was associated with reports OF bad weather
conditions. The price of silver SUFFERED a
further violent reaction from the recent eN'
treme rise, thus demonstrating that tins
rise was due to an overbought condition
! OF the market The realizing which was
more or less In evidence all day became
more pronounced at the close OF the day
] and the closing was heavy, 49,. -,
I Bonds were irregular Total sales, pa
value, S365O,Oc0. United States old Is ad-
/ vanced * and the new Is u per cent or
| call.
! the New York Stock exchanEe