Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-10-11
NEW YORK STOCKSANDBO
Market Expands in Come Issree aud
Strength il Better Distributed,
UNION PACIFIC AM ST. PAUL ADVANCE
Rumor of Closer Relations Between
Properties Causes Rise--Ore Deal
Group ia sIugEish UnuI
Late In Day.

NEW YORK, Oct. l0--Deaiings In stocks
expanded an some degree To-Day anu
stiensth In the market was better as
trlbuted ana consequently mad more SYM
pathetic effect on the general list Ine re-
SUIT was TO diminish tine spOtty appearance
OI me market mat appearance was not
enlrely abolished, however, as a lew stocks
showed dlsprUportiOnate strength and activ-
ny. THESE stocks were OF a better class than
yesterday, when the low grace of the Sc
curities which began to appear in the list
OF candidates for speculative favor HAD a
detrimental effect on the tone OF the whole
There was no change in general oondi-
lions TO account for the better tone OF
speculation. The most conspicuous move
mentS were accounted Tor py rumOrs OF
SPECIFIC developments regarding tho in-
ulVidual properties, most of them vague
ana unauthorized. Prospective dividend IN
creases ana combination projects were con-
splcuous features in the days stock mar
ket gossip. Union Pacific and St Paul
rose Jointly on revival OF reports or closer
relations. These rumors gained additional
force from the fact of tine reelection or
the president of the st. Paul as a director
OF the Union Pacific at the annual meeting
yesterday. That meeting also gave rise To
renewed assertions that the pamphlet re
port was to appear Immediately ana thHt
It would contain important information
bearing on the addition to the value OF
property. Assurances from authorized
sources that the report would not -e ready
for the stockholders FOR several weeks ala
not seem to diminish the active speculative
operations In the stock winch were at
trbuted to the so-called western element.
The large increase in gross and net earn
ings for August reported by the Union
Pacific was in favor of the movement.
other railroad stocks did not, in all cases,
respond to similarly favorable showlnss.
Northern Pacitic's prosperous annual snow
ing did not seem to help tnat stock Inc
ore deal group was sluggish until late in
the day when demand Tor United states
Steel developed which carried II TO the
highest price on the present moVemept.
The extraordinary prosperity in the copper
trade was moderately reflected In the move
ment in Amalgamated Copper. hopes OF
dividend increases were motives Tor tne
ing, although the latter stock showed tne
etlect of profit-talking in Its wide advance
during the course OF the day. Inc Same
was true of some other stocks which rose
sharply earlier in the week.
Money continued easier in spite OF the
manifest pressure of remittance to LONDON,
only here, but in Paris ana Berlin. The
advance In the official discount rate OF the
Imperial Bank of Germany was In accord
ance with expectation and the prlVtat onS H,S
however, the private discount rave az.
vanced and 1t was considered probable that
the Bank of England would advance us Oh.
ficial rate tomorrow In view of the heavy
Withdrawals of bullion from Its already dt-
pleted supply. shown In last week Ro 3
statement. The bank sent another s'SSS oV.,
York has made a large reduction or IT'S
indebtedness to foreign money markets TINS
week That Is could do so without disturb,
ing the relaxing tendency OF the loSal
money market is regarded as encouraging
evidence of the improvement IN the local
money situation. -
Elected also in an enlarged demand LOT
bonds at advancing prices, which gave tnaI
market q very firm tone. Total sales' pa
value, $2,T54.O00. United States bonds uh-
The following was the range of prices on
the New York Stock exchange c,o..