Omaha daily bee., 1907-02-01
NEW YORK STOCKS ANDBONDS
Early Prices Are Lower on Further Out
pouring Of Stocks
MARKET RECEIVES PROMPT SUPPORT
Bears Are Impressed with Character
OF Buying and Reduce Their Com
nitments-Rany Ensues and
Close IL strong.

NEW YORK, Jan. si.-T7here was a
further outpouring Of stocks into the mar
ket In the early operations today during
which few OF the influential stocks were
driven lower than yesterday before the
Anal recovery. But the bear operators be-
buying at the decline' and set about to re-
duce their commitments on the short side.
A recovery was the result.
At first the buying was not in effective
amount except at the low level of prices
Upon the occasional recoveries the trading
lapsed into extreme dullness in the same
manner as during the abortive rallies for
some days past. This action of the market
Kept sentiment unsettled and disquieted
Later the nquidating followed the advances
with more persistence, as 1t appeared that
selling OF some Of the most influential
stocks at lower prices was absorbed in un-
interests having relations with the control
Of the properties. This was notably the
case with Union Pacific OF which very large
buying orders were executed below 40 by
brokers usually employed by the banking
house most closely related to that prop
ton of an interview with the head Of the
mouse cabled to Paris and back to New
York containing candid admissions of the
dhhculties In the situation from the short
supply of capital but deprecating the as
sumption that conditions were perilous, the
huence on sentiment towards the whole
market Published expressions from foreign
bankers regarding the American situation
were calculated to allay somewhat the ef
feet Of a view that has become current
that foreign capitalists were concerned in
discrimination against American enter
prisee. These influences were allowed i'm
creasing effect after the turn in the market
was secured. It was manifest however,
that support by main force was the prin-
clpal, element in checking the further fan
IN prices this morning. The buying with
this object showed no disposition to follow
advances after 1t had achieved its purpose.
Nor was there evidence Of important con-
certed measures to drive the bears TO cover
by bidding up prices.
with degree Of elaboration and lack of
urgency that kept open the feeling of gus
picion towards the rally amongst the trad
ing element The February LIST settlement
was viewed with some apprehension at the
beginning OF the day but the 81 per cent
call rate held only momentarily and there
was no other symptom of tightness in
the recommendation OF the secretary OF war
Tor the immediate completion of fortlfca-
lions In Hawaii, owing to a supposed bear
Ing on the country's relations with japan.
An impression got abroad that a redemption
OF part OF the government IS Of 1907 is in
contemplation by the Treasury department
as use for the government deposits with
repayment tomorrow and on February To-
Foreign exchange continued to recede today
ana New York exchange at Chicago ad-
Vanced to premium. The covering de-
mand from the shorts came to an occa-
sional pause and there were several trivial
reactions but the last prices of the day
were generally the best or nearly so
Bonds were Irregular Total sales par
value, q, $4,000 United States bonds were
unchanged on call. 49,
The following wax the range of prices on
the New York Stock exchange: