Omaha daily bee., 1906-11-27
NEW YORK STOCKS AND BONDS
Confusion Of Speculative tentimsnt ia Dis
cernible in Movement Of Fricea
CALL MONEY MARKET is RELbx.r
Great Northern Preferred Rises on
supporting orders Supposed TO BE
from the Inside-ClosinE Tone
~ Irregular.

NEW YORK. Nov. 26-Confusion Of spec
ulative sentiment was discernible In the
movement OF prices Of stocks today and
the acticity Of the trading was contracted
largely. Operations were left largely I'm
the hands Of professional traders. Their
any effective leadership by Important
transactions or any appreciable following.
The show OF strength after the mixed tone
at the opening had an encouraging effect
and was interpreted as an assertion of
power to support the market against such
pressure as that which came upon the
market toward the close OF last week.
The way in which Great Northern pre-
terred was sustained after a further de-
cline was especially effective In reas surinE
sentiment The buying which followed
came from professional traders, who
thought they read an intention on the part
vance in prices. When they became dis
trustful of this intention stocks were re-
sold and the course Of prices was retraced
on the late decline. The further drop IN
prices of Great Northern ore rights, when
Issued, as they are quoted. on the curb,
had large influence in turning the market
rights serves to discredit the extensive rise
which occurred In the price of Great North
anticipation of the distribution. The treat
ment of loans in which Great Northern
preferred serves as collateral when the
new certificates are issued Is a complicating
factor. The weakness of the new rights
on the curb would add to their unattrac-
| tiveness for inclusion in the collateral for
/
laxed today and no immediate pressure was
enforced on the stock market on that ac-
count The movement of currency to San
Francisco continues. $4,000 being trans
ferred to that point through the sub
treasury today, and precedents indicate that
this movement may reach several million
dollars. Further shipments to the cotton
regions also are likely. The position Of the
| Bank of England continues to grow
stronger. The tone OF London financial
comment shows. however. that a possible
renewal of a demand for gold from New
/ York is as much dreaded as a cOmplicating
/ factor in that market as that from any
| other source. A rise In the Bank of Eng
| land rate to per cent before the end Of
\ the year would have a damaging effe3t
/ on English trade and on foreign markets
generally that it will cOunterbalance an
advantage to New York from securing more
gold from that market.
There was some special strength In Mis-
| souri,, Kansas g. Texas stocks due to a
| suppOsition that they were being bought
| for control and connection by a larger
system. st. Paul and Union Pacific suf-
| fered especially, in company with Or at
| Northern preferred, and the price Level
during the afternoon got generally below
! Saturdays closing. Slight rallies short
covering left the closing tone irregular.
| Bonds were steady. Sales. par value,
| ST. GOO. United States 2s, registered, de-
clined 4 per cent on call.
| The following was the range OF prices on
| the New York Stock exchanged