Omaha daily bee., 1906-02-02
NEW YORK STOCKS And BONDS
Prices Fluctusts Widely and Constantly
Throughout the Session.
LARGE TRANSACTIONS IN ACTIVE ISSUES
Current Of the Market
Changes Its Course at
Least Half Dozen
Times.

NEW YORK, Feb. lit is rarely that
prices huctuate so widely and so con-
stently as the case in the dealings on
the Stock Exchange today. Half dozen
times or more during the day the current
OF the market changed its course. Neither
declines nor advances were long pursued.
Transactions were large in few active
stocks. but the constant huctuation had
the effect Of unsettling speculative senti,,
ment and discouraging attempt to read
the temper of the market. The general
list was comparatively dull in consequence
and simply moved in sympathy with the
wider movements OF the speculative favor
ties. 1t was said that some very large
transactions on either side of the market IN
the prominent active stocks were closed out
within a brief time, Inference was drawn
from these events that floor traders were
making up the market to very iarss
extent and that the principal operations
originated in the board room itself.
The important factors in the movements
gether of rumors OF vague suggestions,
few of which we're confirmed by the event
o. by any authoritative announcement
Great play was made on the assumption
that negotiations were in progress for a
settlement of the long-standing disputes in
the copper trade which would do away
reprlsals which have characterized this
trade war. The coppers opened, both on
the Stock Exchange and in the curb mar
ket, with a continuance Of the upward
rush in force at the closing last night. The
abrupt reactions due to the heavy unload
ing which met these advances dashed the
speculative confidence. The reports were
revived in all their variety, including an
alleged plan for wholesale merger or
copper, smelling, mining and lead COM
panies. Reading was another active CEN
ter Of speculation and moved as uncertainty
as the coppers. Its early decline was con-
nected with the tone of the published re-
marks of the president OF the United Mine
Workers on the negotiations for labor
settlement. The market control of the
stock was again asserted in the buoyant
rebound. The circulation OF a report that
a congressional resolution was in prospect
for information on the Union Pacific con-
troll of the Southern Pacific on the same
lines as the Pennsylvania railroad inquiry
was responsible largely for the early heavi-
ness in that group. The northwestern
Pncifcs were strong throughout.
Money continued easy and foreign eX-
change yielded further. The heavy absorp-
ton of the sub-treasury did not affect this
result. Besides that Institutions gain since
the last bank statement of s36l3,60O 1t had
a credit balance at the clearing house
today OF practically equal amount,
caused by the payment to the government
of Central Pacific note on account OF
the working out OF the settlement Of the
governments land grant claims. The ease
OF the Foreign exchange market was also
affected by the hardening of the discount
rate in London, although this had the
effect Of moving the sterling exchange rate
at Paris in favor OF London.
Bonds were steady. Total sales par
value, 81 800, 900. United States bonds were
| all unchanged on call.
The following was the range of quotations
on the New York Stock exchange: