Omaha daily bee., 1906-05-25
NEW YORK. STOCKSASD BONDS
Prices Recover from Wednesdays Low
Figure on Paying BY Professionals
VIEWS OF sPtcULAToRs SHIFT RAPIDLY
Graft of Railway OmciaIs Used ne
Reason for BOOstins Prices
when Day Before IL
Caused Decline.

NEW YORK, May 24-Prices made
recovery on the Stock exchange today
from yesterdays declines ON a dinln-
yesterday. The narrow and constant
fluctuations in prices Is convincing evil
dence of the highly professional nature
general in the Wall street district that
there is an almost total absence from
stock operations OF All but ne pr9iess,-
cation of the professional character Of the
market is the shifting views professed
and of some facts as to their effect on
market conditions and as motives Tor buy
ing or selling stocks. Yesterday much
of the selling was accompanied by ex.
pressions of uneastness over the enect
upon public feeling towards securities
caused by the inquiry into the coal car
ricrs and the possibility that further
revelations OF grating practices will fol-
low the extension of the inquiry to other
railroads and to other lines of traffic.
Today the stocks Immediately affected by
tho rise, and the view was promulgated
that the exposure OF graft amongst offi-
cials of these companies gives assurance
of abolshing the abuse and Of doing
away with the losses presumably involved
for the corporations through favoritism
to individual shippers AT =. sdyant,ssee :,
this way. There was also considerable
discussion of the expressed qualification
by the president OF the Reading that his
company was undefled by graft practices
Reading and the coalers were made the
lever for propping the market and lifting
prices to higher level. The movement
spread to other points, however, and trad
ers who went short yesterday were gen.
orally inclined to cover today
There was general satisfaction ex-
pressed over the tranquil manner in which
the resumption OF banking was effected
| in San Francisco, and confidence was ex-
l pressed that early return of cash to New
Yor! banks would follow. The transfer
| through the subtreasury today OF nearly
M,5Go;oOo from san Francisco Franz to , New
although that amount of gold was received
/ I'm San Francisco yesterday, from Aus
/ tralia. and the largest part of today
! transfer was known definitely to be in
i course of remittance of this gold to the
! bank here, which engaged ii in Australia
Some OF the New York banks had intorma'
| ton, however, from their San Francisco
/ correspondents of intended shipments
] from there next week amounting to sew
Reports of a s25, 200. 900 loan in prospect
| by Paris bankers to fre Insurance com
panies opened a new phase of the re,
to American borrowers. after the example
of the Pennsylvania $50, 1000. 900 bond issue
! Confirmation of the reported insurance
borrowing was lacking, however Cal
money rose again during the day, will
an effect of admonition of the results (
| be expected from occasional syndicate
requirements Installments of subscrip
tions for Baltimore Ohio new stock'
and for Delaware Hudson convertible
| bonds, due tomorrow, were the cases II
4 point today. A good effect was produced
on sentiment by the report of wage ad
vances tofNew England cotton operatives
Prices reacted to some extent during thu
| afternoon but rose again to the best ri
| the day under the influence of READING
movement and the closing was strong an'
| quite active.
. Bonds were irregular Total sales pa
| value S21b5,000. United states new q
| registered declined per cent, and tn
coupon u per cent on the last call.
The following was the range of prices oil
the New York Stock exchange:
| Gall Hiah IoW Close