Omaha daily bee., 1907-01-26
NEW YORK STOCKS ANDBONDS
New Decline in Values Eas DisoOura0ipe
Effect on Speculative Continent
MARKET APPARENTLY WITHOUT SUPPORT
Interstate Commerce Commission's
Report on SOFT Coal situation
in East Acts a. wet
Blanket.

NEW YORK. Jan. S-Ths new decline
m stocks today had very discouraging
euect on speculative sentiment In the mar
ket, coming after the slight recovery which
mad been achieved from the sharp fall last
week. The dullness and sluggishness OF
this week have been viewed as a waiting
period which was to end with a definite
tendency In one direction or another. To-
sion that the question had been settled
IN favor of renewal OF the selling move
The principal feature Of the days market
was not the weight Of selling in spite OF
the weak showing, but rather the almost
total lack Of any measures Of support for
the market Some of the principal stocks
IN tho list slipped downwards &c at
line ON transactions largely made up Of
tested for the course OF prices by placing
Of protective buying orders. There was
an apparent consent to the decline by all
was heard some discussion of the necessity
Of allowing stocks to settle to a lower
price level in order to attract any invest
ment demand or effect any movement OF
the congestion Of investment securities
much Of which is still in first hands. Some
Interpretation and helped to explain the
renewed depression In stocks. Such was
the bringing OF suit by the Minnesota
the St. Paul, Minneapolis & Manitoba rail-
road, the parent OF the Great Northern.
supplementing the suit to prevent the pro
posed new issue Of Great Northern stock.
Tho publication Of the report of the Inter
state Commerce commission on its investi-
Cation OF the eastern soft coal roads serve
TO revive some OF the UNPLEASANT impress
Sions OF the time when the investigation
was in progress, in spite OF the revision
which has occurred In the meantime in the
feeling on the subject. For instance. there
has been lively speculation conducted in
the coalers on the assumption that the
divorce Of the coal mining properties from
the railroads would involve the distribution
Of large sum to stockholders in the pro-
ceeds of the sale OF the coal companies
Today. however. the prevailing denression
Of sentiment was reflected in the contrary
view taken Of the effects of the recon-
mendatiOns OF the commission.
The money market was distinctly frmer
IN tone today in all departments. There
was little alteration in the supply and de-
mand. but sentimental effect was caused
by the notice served by the secretary of
the treasury of his desire TO have gov
ernment deposits on the coming March 4.
The prospect of the withdrawal of upwards
Of. 49, 100000 from the money market dur
Ing February caused higher rates to be
asked and had its effect on speculative
sentiment In the stock market. Estimates
or the weeks currency movement indicate
gain by the banks OF about $5.O00,O00, of
which s3,S47,000 came from operations with
the subtreasury. The private discount rate
In London was shaded today and the Inn
pertal Bank of Germany made a strong
showing IN It's weekly statement. The ma
turity tomorrow OF final 20 per cent INSTALL
mcnt Of subscriptions to new Canadian
Pacific stock was believed to account in
part for the special weakness of that
stock. Reports OF the hitch in negotiations
for merger of Lake Superior copper prop
critics seemed to affect Amalgamated Cop
per-. There was practically no residence
TO the, market at any time but a final
stump In the Paoifos had very little effect
Bonds wer" Arm. Total sales, par value,
changed on caii