Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-07-31
new YORK STOCKS AND BONDS
Upward Movement Of Prices Checked BY
Heavy Sales to Realise.
BUYING ORDERS FEWER THAN ANTICIPATED
Passing of Dividend by Brooklyn
Gas DiscOurages Spectators and
Close of Market is
Irregular.

NEW YORK, July sO.-The speculative
movement for the rise in stocks encoun-
tered some difficulties today in the amount
OF STOCK FOR sale TO realize profits which
are made attractive By the considerable ad-
Nances achieved last week Monday morn
ing Is tavorite occasion for profit-tsking
grounded propensity to embark on new
ventures with the opening Of a week which
brings larger installment Of new buying
orders into the market at this time than
at any other. Apparently the speculative
tendency will lie dormant for a time, while
professional operators are busy with the
market, and will be awakened into action
by the consideration of week end sum
maries. The accumulation of buying orders
over week end is always watched for by
speculative holders to afford market for
absorbing proit-taking sales. The manner
in which these are absorbed is regarded
as an important index of the tone OF the
market. The buying orders on hand this
morning from outside sources were not OF
imposing proportions, according to the COM
paints Of commission houses. The supply
ing OF stocks was done with care and the
market was taken care Of by skilful hand
ling, so that small impression was made
upon prices There were influential ad-
vances in special stocks at the same time
which served as sustaining effects on the
general list. The renewed advance In
Southern Pacific to the highest point on
the movement was a notable example. The
disturbing effect Of the evidence of profit
taking was much aggravated by slump
In Consolidated Gas. when the ofhcial an
nouncement was made that the Brooklyn
Union Gas management had determined TO
suspend the payment OF dividends until
further notice.
The possible bad effect upon the securities
Of the measure and agitation directed
against corporations has been much in the
mind Of the market operators up to the
recent rise in stocks, since which time 1t
has been releRated to the background. To-
days Incidents served to bring II forcibly
forward again. AS Consolidated Gas ana
the affiliated Brooklyn company are within
the group of companies regarded as being
controlled by Standard Oil capital, specu-
lative operation was keen to read indlca-
ton OF proposed policy on the part OF that
influential element in the action on the
gas dividend II is known that the tact OF
the intended passing Of the Brooklyn Union
Gas dividend was known amongst the
stockholders last week. The fact that its
influence on Consolidated Gas should be
belated until the middle Of todays stock
exchange session was considered somewhat
remarkable. Consideration of the SATURDAY
! bank statement was further INDUCED TO-
day The effect of the large loan expansion
| in contracting the surplus was not con-
sidered OF good augury for the security OF
speculative borrowers in the period or the
! coming demands upon the money market
/ for moving the crops. Conunued asser-
| tions of an early dividend Tor Souther1l
/ Pacific and the strong showing expected
| OF the United States Steel quarterly state
ment Of net earnings to be pubhshed 10,
morrow were elements In the strength OIL
| those stocks. -
| Bonds were irregular. Total sales par
| value 81 945 CO., United states 2s advanced
y, the Ss coupon and the old Is pei
| cent on call. -,