Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-03-09
NEW YORK STOCKS AND BONDS
Confidence in Values Gathers Force and
General List is Stronger.
READING SELLS OFF THREE POINTS
Movement Believed TO he Due
to Probable Failure of NeEo-
tiRtions to Settle wage
Scale.

NEW YORK, March s.--Confidence in val
ues gathered force in the stock market to-
day be reason of the complete absence of
anything like pressure to liquidate. The
market, after wavering uncertainty through
the early part Of the day with some evil
dence OF weakness in special stocks, turned
wards.
The trading was still limited in it's d.
menslons and the extent of the movement
was not wide but the speculative senti-
ment which prompted 1t was Enthusiastically
IN the direction Of increased confidence. A
drawback to the early development OF this
teeling was the decided pressure agains;
Reading. This stock was forced down at
one time points below last nights level
to the lowest price touched since the re-
action set in from its recent high level.
The market gave rise to apprehension of
information not known to the public, point
ing to unfavorable outcome to the negotia-
lions in the anthracite trade for a settle
ment of the labor trouble. The special
message of the president on the proposed
investigation into the monopoly of the
coal and iron trades was used by the pro-
tessional traders as an argument against
the coal strike and, indeed, against the mar
ket in general.
The relaxation in the money situation was
a principal factor In the recovery I'm the
market. Rates for time loans were APP
probably easier today. The New York
banks received from the government $500
600 of the public funds, bringing the total
thus far received this week up to S,6OOOOJ
of the intended allotment of 100000 into
New York. Last weeks special demand
upon the banks for deposits to the credit
OF the 3 per cent bank notes redemption
fund are missing this week. Yesterday
remittance from San Francisco through the
subtreasury was added to by a small ad-
ditional remittance today. The tone of the
local money market was evidence that
these factors were having an effect on the
available supply. At the same time quite
violent break in the price Of foreign eN-
change gave rise to a discussion of an early
import movement of gold. There was some
recovery late in the day, however, from
the low level of the exchange market,
which was itself still above that Offering a
profit on an engagement Of gold for i'm
port. The more cheerful political outlook
abroad and the improved condition shown
today by the Bank of England and the
Bank of France would increase the posi-
bilities of a surrender of gold on the de-
mand of the New York market. Local
banks were figuring on possible engage,
ment but IL was opposed II not prevented
by the recovery in exchange. The strength
of London gave some help to Amalgamated
Copper here. The sharp decline in the
wheat market was beneficial influence on
the grangers. A strong closing was helped
by the upward rush Of points in Atchison
on the circulation of rumors OF an increase
in the dividend was intended
Bonds were irregular. Total sales for the
day par value. S2,OS0, 900. United states
bonds were all unchanged on call.
Quotations on the New York Stock eX-
change were as follows