Omaha daily bee., 1906-11-17
NEW YORRSTOCKS AND BONDS
Market iS Active, but Speculative Msvt-
msnt is More Diversified
fAvOFrt8 UNDER PRESSURE MOST OF OAY
Sc Paul and Heading Decline Under
PROFIT Taking, hut Recover Later
-HIu shares Advance
sharply.

NEW YORK, Nov 1s--The speculative
movement today was more diversified than
yesterday, although the aggregate sales
for the day did not exceed those Of yes
terday. The decrease was in those stocks
In which dealings were Congested yester-
day TO a degree that give the market an
unnatural appearance. The favOritc
stocks in today's speculation were under
more or less pressure in a process Of
profit-takiug. st. Paul still held a lead
ing place in the movement, but Il was
irregular and yielded sharply al the out
set, under offerings to realize. IL came
a new start to higher level. Lack OF
consistency was a general comment upon
the market. Stocks here and there were
sent upwards suddenly, with nothing to
explain the movement.
Traders were convinced quite generally
that important operations were going on
aud that the working out OF far-reaeniug
financial projects were in view. They
sought eagerly to get into the current
Of the movement without further know
ledge OF what they might mean The
houses which executed the large orders
gave color to suppositlons as to the iden-
tity OF the buyers. Western speculative
combinations were credited with very
large opera tions in the market. The
standard Oil party was supposed to be
sccumulating stocks, notwithstanding the
curb market and the sensational atten-
ton given to the governments suit
against the company reported 1 h,asty ~
the Great Northern, was made ground for
rumors of important pending Develop
ments affecting his properties. Reading
was subject to revived rumors Of a coming
increase i'm the dividend rate. The usual
explanation heard for the rise I'm Amalga-
mated Copper was that IL might be eN-
pected as a Standard oil favorite. to
follow the movement of st. Paul.
The character Of the days trading was
fairly indicated by the kind of factors
that are thus seen TO have figured in
the trading. Money continued TO work
easier. Only small changes are indicated
IN the cash holdings Of the banks for
the week, as result of the currency
movement, but a large cutting down Of
the loan item is expected to be shown
in consequence of free lending here for
account of interior banks. ghe tone Of
the money market precludes any doubt
about the reserves having been restored
to the legal % per cent limit or above II.
course Of the currency movement in favor
of New York, the gain on balance by ex-
press movement being In the neighbor-
hood of $1,000 900. Absorption by the
sub-treasury was sufficient to leave the
gain by the banks small. The turn in
the movement towards New York was
of large sentimental effect, as further
indicated, A resumption of the interior
demand during December is not unusual.
however. The irregular tone of the latter
market, when profit-taling had become
quite general, was broken In upon by the
buoyant jump in the Hill stocks and the
market closed generally strong under this
influence.
bonds were firm. Total sales par value,
$l,1l6,000. United States As declined II c
on call.
The following was the range OF prices on
the New York Stock exchange: