Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-07-24
new YORK. STOCKS AND BONDS
Early Market is Shaken BY Developments
in Russia Over Sunday,
UPTURN IN VALUES SOON FOLLOWS
Owing TO PROFIT Taking in the
Last Hour Net Changes Are
Small aud Close is
Easy.

NEW YORK. July g.-The stock market
here was slightly shaken ny the develop
ments in Russia over sunday, IN common
with the worlds other securities markets
But resistance was shown by the New YORK
market and the effects had apparently
passed in the course Of half an hour' ~
stocks had restored the level Of prices 10
where they left on on Saturday. The DC
termination Of an organization TO euect an
upward movement in prices manifested II
self afresh and operations OF the same
character as those which appeared IN inc
market on Friday and Saturday were re-
sumed
There is no attempt to belittle the gravity
OF the situation In Russia from poHtlcal
standpoint. but the drift of events has been
clearly forashadowed up TO the pTescn'
situation, at least II Is believed the imam
cial and banking world has acted with a
view to the developments which have now
occurred. The action Of foreign securities
markets, however, seemed to threaten seIl-
Gus consequences for time TO-DAY Inc
special effect In the London market is due
to the coming due on August l next OF an
installment Of subscriptions To the last
ruling on the subscription price Of the loan
in that market points to severe losses on
the underwriting and the forced manner
of the liquidation points to much smaller
distribution of the loan into investors
hands than had been intimated at the time
OF the fotation. Bondon's necessities in
duced considerable selling of securities in
this market today. II also resulted IN a
strong rebound in the foreign market
which carried the price definitely away
from the gold import point. The Bank Of
England secured all the newly received gold
in the London market, but II was remarked
that New York put in no competitive bidt
for the supply, which was secured at
| decline of a penny an ounce from the price
recently prevailing and which New YORK
! paid last week. II was inferred that New
! York bankers thus acquiesced In the neces-
| sity of the London money market having
/ additional supplies. The Saturday bank
| statement, with its showing of III, 700
/ cash increase. may have had an influence
| on this attitude. although II remained
! something of mystery where and how the
cash was obtained. However, the immedl.
/ ate money outlook Is thus decidedly cleared
| The speculative leadership IN the market
1 evidently assumed that security from pres
| sure was assured at any rate until the
| crops shall intervene. The time is regarded
as opportune, In the professional spccula
tors view for an upturn In prices and they
! operated from that viewpoint today.
| The conspicuous place of the transconti
mental stocks in the movement served e
! velopments in them, one from London alleg
ing a coming control OF St Paul In thu
/ interests OF the Union Pacific. The marke
seemed unaffected BY the death of one o.
! the wealthlest capitalists in the country
the understanding being general that hi
| affairs were arranged so as to avoid pres
sure on the stock market or disturbance
in the money market. The market showed
great strength and activity on the recover!
from the low point to the highest, but owini
proft-taking in the last hour of the session
/ the net changes from Saturdays price
were small and the closing tone was easy
! Total sales, par value 81 $4,000. Unite'
States rs advanced u on call.
The following are me quotations on TO-
l Stock exchange.