Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-04-27
NEW YORK. STOCKS AND BONDS
Presidents Address Fails TO Revive Spec
ulative Activity ~ Expected.
MARKET is sTAssASr ENTIRE SESSION
wheat Crop Damage Reports Con-
tine 10 Play an Important
Part in depressing
Activity.

NEW YORK, April 26-For a good many
days past limitations have been current
In stock market circles that the address
Of President Roosevelt at the opening Of
the jamestown exposition would contain
matter calculated to revive active opera
lions in securities and quiet all apprehen-
sion over that attitude OF the administra-
ton towards corporations Immediately
upon the publication of the address today
all activity died out of the stock market
and practical stagnation ensued.
The habitual operators in stocks were
50 disguised with the apathetlc reception
Of this expected reviving influence that
they abandoned operations. favorite
racing event also helped to deplete the late
attendance at the Stock exchange. The
cussion nevertheless His citation Of
Burke's If l cannot reform with equity,
l will not reform at ALI as the exact
spirit in which this country should move
to the reform of abuses of corporate
wealth and his stress on the point of per
hitting such ample legitimate profits as
Will encourage individual initiative were
dwelt on as offering assurance OF immunity
for invested wealth from such dangers as
have been ostentatiously. dreaded by CAPT
talists. But the market was not stirred
from its lethargy by this consideration.
crop damage reports continued to play
large part in the speculation, chiefly by
depressing activity, but finally weakened
the whole market. The tone of stocks
was rather firm for most Of the day. This
was wholly In sympathy with the strength
Of Union Pacific and Reading. The
strength was unexplained by any news
The operations In Union Pacific were re-
garded as OF some Importance, but no
conclusive opinion could be gathered as
to whether accumulation or distribution
was the design.
Money continued easy in spite Of the
prospect for a weak bank return tomor-
row. The small gain in cash which has
resulted from the weeks subtreasury
operations has apparently been more than
| onset by the movement of currency on
balance to the interior, the loss In cash
| by the banks being estimated in the neigh
! borhOod of 100000. IL the process Of
/ transfer of loans from interior to New
| York banks meanwhile has been going on
| as for the two previous weeks. a con-
! siderable further loan expansion must
/ have resulted. There was some recovery
/ in the London discount rate today fol-
lowing the recent continuous decline. Re
ports from Paris asserted that there would
! be no reduction from the existing 3b per
cent rate OF the Bank of France until the
| return to Paris of the full amount OF gold
recently advanced to London by that mar
! ket. AtchisOn and Rock Island made
strong returns of March net earnings but
! this and the rise in Union Pacific failed
I to hold the market against the growing
/ strength of the wheat market. Union
! Pacific was affected by repetition of UNI
| confirmed rumors Of holding company
to take over its stocks of other com
| panies.
Bonds were steady Total sales. par
value, I,l66,O0O. United States bonds were
| unchanged on call.
Number of sales and closing quotations
on stocks were: