Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-10-09
NEW YORK STOCKSLNDBONDS
Trading is Dull and Uninterestipg and
Profits Move sluegishly.
FEW LESS PROMINENT ISSUES ARE HGHtF
Market Opens with Firm UndertOue,
but Late I'm the Day There is
Reaction and Close
IL Easy.

NEW YORK, oct s.--A few Of the less
prominent stocks furnished rather
spectacular feature in today's market, but
uninteresting and prices moved in u
sluggish manner. The Arm undertone or
the market was largely sympathetic with
the few notable advances. The only
factor in the general situation which
could be held to account for the apathetic
speculation was the money market condi-
tions
The immediate outlook with the opening
of the week did not fully hold the promise
offered by last weeks marked relaxation
While there was no actual stinening TO-
day the downward course of interest rates
was quite distinctly checked. The re.
suit was, less confidence in additional
ease in the securing Of resources Tor
stock market operations. The disappoint-
ing exhibit OF the banks in the weekly
statement Of conditions was not held &C
market, as the actual condition was be-
lieved TO have improved much more than
was indicated by this comparison OF the
money markets had more effect. These
distinctly reversed the easing tendency
of last week and moved upwards. Dis
counts were quotably higher in London,
Paris and Berlin. Discussion was re-
newed of the probability of rise In the
official Bank of Germany this week. our
foreign exchange market moved upwards
and the demand in that market was said
to be largely for remittance to cover
maturing finance bills These maturities
are known to fall into very large
amount during october and the rise In
foreign money rates adds to the induce
of renewing them. The bearing on the
foreign exchange situation of the outcome
of the cotton crop receives special at
tention In view of the fears or smaller
crop than has been estimated, with q
corresponding reduction In the available
surplus for export: The reactiona ~
| a satisfactory development in that part
of the situation More or less active dis
cussion is going on in financial circles
of the great extension Of banking credits
in the country at large and the part
| played in them by real estate, mining
and other speculation.
nearly all had rumors of happenings OF
| individual Importance to account Tor them
The General Electric advance was ,,i nc = !
| stock issue with subscription rights. the
| strength in Westinghouse Electric Ameri'
| can Locomotive and Allis-Chalmers was
| mergers in contemplation. lndustriais
| connected with the copper trade were al
| affected by the extraordinary market FOL
| the metal which touched record prices
| both in London and New York, with ap'
| parently no supply available for immedl'
ate delivery order for the nearby months
In contrast came the report OF the de-
| termination of the United states Stee
| corporation to make no advance In price,
| of finished products in spite OF the urgen
demand Railroad officials reported grow
| ing difficulty In taking care OF the frelgh
| Offering for transportation and a certa.i
| prospect of freight congestion IL any Cd
| struction occurs from bad weather
| Union Pacific was the only prominen
| railroad stock to show notable strength
| United States Steel hung about ~, q
| which II rose Friday afternoon. on TN
eve of the announcement OF the term
| of the ore deal A good proportion OF IN
| days gains was welded in late reac
ton and the market oloeed easy.
| Bonds were Arm. Total sales, sz,o44,
600 United States old 4s declined OF
| call. -
The following was the range Of prices Of
the New York Stock exchanges;