Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-05-11
NEW YORK STOCKS AND BONDS
Market Again Demonstrates Is Great
Power Of Absorption.
VALUES CONTINUE TO RISE sTEAOnr
Leading Issues Ten TO Thirty
Points Above the Low Mark of
Last week-Bonds Are
steady.

NEW YORK. May lO-The stock market
again demonstrated its power OF absorp-
ton Of such offerings as came upon it TO
realize pro1ts. The strength OF the market
reasserted itself after this process of di-
geetiOn and advanced to higher level.
The recession in prices at one time during
the forenoon was fairly general and the
professional trading element professed
itself suspicious of the market and was
disposed to make tests to bring about re-
action, This attitude towards the market
Of professional traders is not based on any
development of actual conditions In trade
or finance, but purely on the technical view
point, especially the extent to which the re-
covery has run from the low prices OF last
week. For instance Reading has sold 1879
points above last weeks lowest. American
Smelling 17% points, Delaware & Hudson
is points, Chicago q Northwestern is points.
Chicago, Milwaukee e. st. Paul IL points,
Ameri ,, m, Ioc9motiys T. points Bro1k l,
points and Northern Pacific nearly 30
points. These are the extreme points over
the recovery, but the rebound In the whole
market has been substantial. While there
Is evidence OF speculative profit-taking from
day to day on the advance and some feed
ing out OF stocks taken over BY s1bstan-
tial banking interests for the purpose OF
supporting the market during the acute de.
preston, there IL no sign of any renewal
OF the kind OF liquidation.
There was not much evidence today OF
any added public interest in the stock mar
ket, but the speculative market organiSa-
lions operated with confidence and success
vancing prices. The method seemed TO be
to proceed from one stock or group of
stocks to another. In come cases reports
were circulated having a special bearing
on the value OF the stocks concerned. The
movement in New York Central was
coupled with revival Of the old rumor OF
a combination with Chicago & Northwest
ern. Union Pacific was benefited by pro-
fessed confidence in the coming increases
stocks was alleged TO come from inside
sources and was interpreted by the specu-
lative following as the evidence that the
iron ore land deal with the Steel corpora
ton was opened again. These are types OF
the kind of reports that accompanied the
days operations.
The shade Of unrest manifest in the wheat
market over the unreasonable cold weather
was without effect on stocks and the
ment was regarded as favorable. The set
Element of the lake 'longshoremen's strike
was helpful to the markets. The special
strength of the New York local transac-
lions was due 20 the large increase in street
railway travel Indicated by the statistics
of the railroad commission and by the re-
ports OF the earnings of the companies.
There was pretty constant pressure OF
profit-takng against some OF the stocks,
which have risen previous to today and
others came under this pressure as the
strength. The market was kept irregular in
this way and closed still under these mixed
influences.
Bonds were steady. Total sales, par value.
S2,530,000 United States bonds were all
unchanged on call.
The following was the range OF prices on
the New York Stock exchange: