Omaha daily bee., 1906-06-27
NEW YORK. STOCKSAND BONDS
Fall in Prices Continued During the Early
Part Of Session.
BUYING BY SHORTS CAUSES A RAIL,
Decrease in Activity Follows Rise
I'm values, but Close IL
Firm and Highest
of Day.

NEW YORK. June 26-The fall in the
prices of stocks, which was in Progre
yesterday, was extended considerably dur
ing the early trade tvuay the essS
yielding Of prices encouraged aggressive
operations on the short side by profes-
the trading. however this class OF opera
tors developed misgivings over the amou *
and the kind of company they found them
selves in. The resumption Of sensatio.u
advertising methods to induce selling of
stocks on the part Of a Boston speCula-
tive party caused some apprehension that
pl OCCASIONAL short selling rather than the
disposal of longs was having the most -
do with the decline in the market
The action of prices during IN, morn
preston by the clear indication amor Cd
of raiding tactics by bear operators The
purpose was manifest to make stocks 81
lower rather than to dispose of holdings
az an advantage. In st. Paul no stock was
disposed OF on the hrst break between
/ 20 and ia, the latter price following IN.
former on sales Of only 500 shares This
incident served as a warning to the bears
that they were over-eNtending themselves
ana a demand to cover shorts, which
gained in volume during the progress OF
the day, was the consequence. A substan-
tial recovery in prices followed. 1t did not
this recovery extended beyond the uncov-
cred short interest. AS prices got up TO
the higher levels there was a decrease
In activity and a diminishing inclination
to buy stocks. There was no important
change in conditions Affecting the market
Z
amongst the banks and this was said 20
be for the purpose of replenishng their
reserves in preparation for the July pay
ments. which are unusually heavy this
! year, and are estimated as high as $685.
! 100000. The calling of loans had no per-
/ ceptible effect In the call loan market but
| rates for time loans continued strong at
! the higher level as established yesterday.
| Such heavy disbursements as are to occur
with the turn OF the month are eX ,pt
ment demand for securities. One of the
! discouraging features OF the present mar
| ket is the entire absence of any such 'a-
! mand The bond market continues rather
/ to reflect the pressure of occasional lldui-
dalton. some times due to the expira ''o7
| of syndcates and the distribution TO mem
bers of unsold holdings. The market Is
| affected by demands by life insurance
companies, owing to the new regulations
| for investment for the surplus OF those In
! situations. Selling by fire insurance com
panies has been evident also ever since
the San Francisco losses. This kind OF
selling was marked influence in the
London market today and selling for Paris
| account was also in evidence there. To-
don is also apprehensive or money tro ,Il.I
in connection with the mining settlemen
/ now imminent The weekly report of the
imperial bank of Germany serves az ey
PLANTATION of the hardening of money rate'
These disturbed conditions in fore 81
markets serve as an obstacle to efforts =
secure gold for import to New YORK ant
there was not suficient change in the Tor
! efgn exchange rate today TO overcome th'
margin which divides the price OF eX
change from the level of profit for golt
import. further decline in the lnnnn'
price OF copper made AmalRamate1 Coupe
Vulnerable to further attack this morning
The Increase in the dividend rate of Ana
conda during the afternoon left larG
short interest in the two stocks uncov
cred and their strong rally furnished ef
fectfve leadership for the recovery in tn
general market The continued hrmnes
Of Southern Pacific kept alive rumors o
! an intended increase in the dividend RATE
After some irregularity in the iate deal
ings the market closed arm at the pes
prices on a final rally.
Bonds were easy, Total sales par value
S1,910.000. L. s. 2s advanced per cen
The following are the quotations on tn
| L. oh q