Omaha daily bee., 1906-01-11
NEW YORK STOCESAND BONDS
Extensive Prof. Taking Ohscks Advancing
Tendency Of Market
SPECTATORS BEGINNING TO UNLOAD
Outside Demand for stocks Expected
with Turn of the Year Not
sumcient TO Uphold
Values.

NEW YORK, Jan. 10.-There was fur
Their contraction In the activity OF the deal
to take profits was even more clearly mani
fest than yesterday. The proft-taking,
however was conducted in a very orderly
and systematic manner and without Gre
atlng any serious disturbances of values.
The market still showed itself under effect
i've control so that the realizing was con-
Quoted with excellent success.
Prices opened high all around, the up
ward squirt at the beginning extending to a
wide margin In some cases This was evil
IDENTIFY for the purpose OF affording better
ba sis for selling stocks and the process was
Immediately begun. This was striking
demonstration OF the continued power OF
the organized speculation to sustain prices.
The same force was perceptibie during the
day in the effective sustaining influences
OF the marking up OF speGa sSoeEs onrse
of the general market under the process OF
realizing. There was no news to account
for the days movements of prices The
selling to realize profits seemed in pur
suance OF the fixed plan OF operation
entered upon in. the early stages Of the
combination ruling the market That is to
say stocks were taken and held with OBJ
stinate determination even through the 70
money rate of December with the fixed pur-
pose OF meeting the general outside de-
mand to be stimulated by the seasonabie
relaxation OF the money market after the
a factor in the market, but II has failed to
reach the expected proportions and nothing
hoped ne for hns SeVeoped The papaSle fact
Of the profit taking on the part of the large
organized operators has undoubtedly had
iation on the part OF the general public.
which has been well informed OF the condi-
ton of the market by the widespread and
notorious discussion OF the situation. So FAR
as the remaining doubts over the money
outlook are a factor, II Is not becauze CT any
apprehension of such squeeze as would
force out present holders whose redoubtable
resisting power proved in the Decenl-
Der market but for its effect In discouragns
an entrance upon new speculation by gem
eral buyers of more limited resources.
The principal influence in today's money
market was the response to the decided re-
Taxation abroad. Discounts eased both In
London, Paris and Berlin and London ex-
change moved up briskly in Paris. This
operated to prevent the expected proht on
| an engagement OF gold in New York for ex-
| port to Paris in spite OF the further rise in
| foreign exchange in New York. Later gold
exports are still looked for. Another item
in the situation was the recovery In the
was previously sent to Mexico from here to
| take Mexican coins out of circulation. Chi
cage exchange on New York also shows 9
| of Cleveland firm with a stock exchange
| connection had some disturbing effect. The
| annual meeting OF the American Sugar Re-
| filming company brought disappointment to
| some spectators who had counted upon ar
| extra distribution of profits. The Canadian
| Pacific group make very conspicuous gains
| and Kansas and Texas continued to be af
| fected by the rumors of absorption fol
/ carrying out a combination. Amalgamatet
| Copper made good Roadway against the
weight of the selling. There were various
| other points OF strength amongst the rail
| roads and specialties. These proved theil
sustaining power throughout, but prices
| gravitated to a lower level In spite of fire.
quent rallies. The closing was easy aftei
one of these rallies and with some stocks a
the lowest.
Quotations on the New York Stock ex
| change ranged as follows: