Omaha daily bee., 1906-07-04
new YORK STOCKS AND BONDS
Liquidation Continues in Light Form, with
Speculation Growing More Cautious
MARKET is EASY THROUGHOUT SESSION
values Rise slightly on BuyinG By
Bears 90 Cover short Contracts
Close IFreGular and
spOtty.

NEW YORK. July a-with liquidation
carried to the extent Il has in the recent
stock market, spectators continue to grow
common opinion that todays buying came
in large part from uncovered bears. The
holiday interval impending tomorrow in
cuned professional operators to close up
outstanding contracts anyhow. There was
an evident subsistence also OF the selling
pressure upon the market which was in
full force at the time Of the previous clos
ing and was continued in the early dealings
today. The bears were inclined TO buy for
covering purposes even on this FIRST break
In prices, and as they pushed their de-
m ma no again the light pressure upon the
ment, however. was conducted in an ex-
ceedingly leisurely fashion and gave so lit
Tie evidence OF urgency or disquet as to
ration of an aggressive bull movement
against the short position In the market:
Professional sentiment still shaped itself
TO the view that any extensive rally In
prices would invite renewed liquidation.
The call money market remains tight with
no sign Of marked relaxation by the return
TO the money market OF dividends and in
terest disbursed. Talk OF relief OF the
money market by gold imports was not so
sonnoent owing 70 the failure 70 secure
gold in London for New York account. A
further fall In the sterling exchange rate
at Paris today emphasized the composition
Of Paris for any available gold supply in
London. Exchange was weak here. how
ever. Discounts IN London made n further
reports OF expected large engagements in
gold in London for importation TO New
, York we're based upon an assumption ey
treasury would renew his aid TO the move
ment by advances Of government deposits
to save interest while the gold Is in transit.
Current discussion points to some dissatis-
| faction on the part OF the government au-
thorities with the elaboration of banks In
returning deposits made with them against
previous gold engagements. II seems to
be understood that there will be no imme-
diate renewal Of the privilege. Another
small transfer of currency was made from
/ San Francisco through the subtreasury to-
day, but an offsetting influence was the
| transfer through the same medium to New
Orleans, Indicating an unusually early de-
| mand from that source upon this center
| Reports were received Of an arrival OF
| 81, 600 600 of Alaskan gold at Pacific ports
marking the seasons beginning on an i'm
| portant movement Of replenishment for
money reserves. After the payment OF div
! idends and interests is completed an inn
portant item in mony transactions VIII be
| the payment Of 40 per cent OF subscriptions
to the new Baltimore & Ohio stock issue,
| which falls due on July l6 and will call for
| upwards OF 81, COO 900. This is in addition to
| the withdrawal of 100000 government de-
| posits with national banks set for July 40
and the $SOOOOOO0 Panama canal bond sub
! scriptions, which are set for July 30. Penn
syvania was conspicuous feature in the
decline in net earnings Tor May, the effects
! OF the anthracite miners strike.
The governments monthly report on cot
ton was regarded by the cotton market as
bullish, but this impression was modified
by the weather bureaus weekly summary.
American Ice was sharply depressed by an
aldermanic meeting against the scale of
prices. Amalgamated Copper advanced IN
face Of a decline in prices OF the metal both
here and in London There was marked
subsistence of demand at the higher levels,
with some reaction and an irregular closing
! at a spotty rally.
Bonds were heavy. Total sales, par value,
S2115OOO United States e declined per
cent on call.
The following are the quotations on the