Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-04-13
new YORK. STOCKS ANDBONDS
Prices Esys ITTsEularly Downward on
Narrowing Transactions
COPPER ISSUES LEAD THE DECLINE
Action Due TO Fall of Prices OF Metal
in Bondon-Unfavorable Crop
Report Also Affects
Values.

NEW YORK, April 12.-Prices moved
irreEulArly downWards In the STOCK mar
ket today, on narrowing transactions OF a
professional kind. The declines were said
to have Induced some liquidation OF long
stocks, but Importance was assigned TO
the activity of the bears in the market.
The news of the day was not Of great
apparent effort outside few special
stocks. In the coppers there was weak
ness both here and abroad. This was
in connection with the fall in the price
Of copper warrants in the London market
and the marking down Of the price OF
copper on the New York Metal exchange.
The denials by the agents Of the great
copper producers Of the reliability or
these quotations as an index Of the actual
Of discussion, But they DO not prevent the
stocks OF the copper companies from
being depressed by the lowering quota
tions. Copper securities abroad, including
the important Rio Tintos, fell sharply in
price This movement Of the coppers
had more or less sympathetic effect on
prehension over the prospects for the
crops were a factor In the depression.
These were founded on reports from crop
experts travelling in the crop regions, and
their influence was increased by the firm
tone perceptible in the wheat market,
Besides the immediate effect of these re-
ports depressing prices, they served as a
reminder of the growing Importance to be
looked for from this time forward Of the
news Of the crops as a market factor.
This makes a season proverblally Of un-
certain fluctuations in stocks which are
detriment from large. speculative com
mltments in the market The growing
listlessness of the operations in the mar
ket are a notable feature.
The continued decline in money rates,
both here and abroad, seems to have failed
to incite any active demand for securities.
| The failure of the market to respond to
this development has much to do with
encouraging the bears to make the at
tacks on the market, which have been
noticeable for two days past. Preliminary
estimates Of the weeks currency move
ments with the interior indicate n balance
! In favor Of New York Of less than ST.
! 900, 900. The subtreasury operations have
contributed s2,SO9, 900 to the banks since
the last bank statement. Last week
| cash grain, although very large, was less
/ than the preliminary estimates, and this
gives some expectation that the prelimin-
/ airy figures somewhat understate the
| actual gain to be shown in tomorrow 5
! statement. The abstract of national bank
| reports, as Of March 22 shows the ex-
! tended position OF the credit situation the
| country through and explains the ex-
! pectation In banking quarters of a con-
! tlnued demand for cash from the interior
| 70 keep up reserves. From January %
! to March % loans expanded $72.576,469
| WhlIe the percentage Of legal reserves to
! deposits had fallen from 21.5S per cent 70
GOA per cent Agricultural exports for
March showed an Increase in value over
J SdCh item, except cotton, showed a decline
! from last week Of 1,629,765 bu for wheat
ana l,44l,265 Blu. for corn. The market
| was not under immediate pressure at the
closing but there was no vigorous re.
| coverY.
Bonds were heavy. Total sales mar
value l,2O4OoO. United States bonds
were unchanged on call
| bumper OF sales ana quotations on IN,
new YORK Stock exchange: