Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-07-12
NEW YORK STOCKS AND BONDS
Hill, st. Paul and Reading Advance
SLIGHTLY Early in the Day
GENERAL roRpoR or MARKET UNREllLVED
Increase is soon Lost OWNS d
Inability of Professionals 20
Interest Outside
Buyers.

NEW YORK, July 1.-THE torpor Of the
stock market was unrelieved TO-DAY IN spite
OF the small increase In the volume q ~, the
final hour The professional element at
tempted to inaugurate an upward move
upon the evidence yesterday that pressure
was off the market and on the assumption
that a considerable uncovered short interest,"
must exist which could be made 10 SUD
serve a purpose TO advance prices by driv-
ing them to cover. The various rumors
which were advanced to help s on t in c up
ception. having served their purpose many
times already. The revival Of the subject
OF the Great Northern ore lands deal was
erected BY a cabled rumor from London
quoting an anonymous director OF the
United States Steel corporation as posi-
eo ygS ase T6e ' RoIatils H stocks we're
the only ones to show much enect. 81.
Paul moved under the influence OF sep
posed plans OF financing the company's Pa
cihc coast extension. The roads showing
of decrease Of net earnings for May did
ating expenses which brought IL about was
believed TO be connected with immediate
defer the necessity Of Offering securities in
the present unpropitious conditions The
addition Of Reading about completes the
abortive effort to control the prices,
The advances were indinerently held for
time 81 and then gave So, NAY % VI The
fessional element when they saw the
futility of the attempt to lift prices. The
easier conditions in the money market
| normal to the early part OF July were main
! tained, but no confidence was felt in their
permanency. The statement Of the sub
| treasury operations showed an absorption
| from the banks for the day Of R,2S9OOO
principally due to the return Of government
| government since the last bank statement
amounts to 4,246,0OO 1t is noticeable also
! the New York exchange at Interior points
are ruling at a discount indica ting cur
! New York The So. 10000 New York City
| bond offering was brought to attention by
| the official circular fixing July Is for the
| closing OF bids. The withdrawal OF gov
| eminent deposits, the Panama bond sub
/ scriptlons and other requirements which
| are to be met in the money market this
morning were brought into consideration. A
| deposit at the subtreaSury for transfer to
/ San Francisco was a reminder that the
| meeting Of insurance losses there continues
| to be an element in the money market.
| The show OF strength in the grain mar
/ kets was hardly an influence on stocks, as
I II was attributed to damage TO foreign
| crops rather than our own. Some atten-
| ting Of grain rates by western railroads,
| which could not be argued to be OF ad-
vantage to values of stocks. Weakness OF
] the market for copper in London helped to
/ depress the copper group In the stock
| market. The break in Colorado Fuel was
/ interpreted as pool liquidation and helped
/ to the reversal of the earlier movement in
! the general list. The final hours transac-
| lions proved the largest OF the day and
| the closing was weak at substantial net
Bonds were heavy; total sales par value,
| $685., 900. United States bonds were un-
| changed on call
The following are the quotations on the