Omaha daily bee., 1907-03-16
PRICES OF STOCKS ADVANCE
BuOyant Feeling in Wall Street Exchange
Sharp Contrast with Thursdays Market
MUCH OF THE LOSS IS RECLAIMED
Leaders Rise from Three 60 Thirteen
Points Largely on Buying by
Bargain Hunters-Call
Money Lower.

| NEW YORK, March 15-An unusual
scene was enacted on the floor Of the Stock
exchange today just after the market had
closed strong and buoyant in sharp con-
trast to the Generalization Of yesterday
Brokers gathered around the trading posts
and cheered loudly IN demonstration OF
their relief and satisfaction at today's
change in speculative sentiment from the
paniclky feeling OF yesterday Congratula-
tions were exchanged all around the room
on the fact that the members of the ex-
change, without exception, had successfully
passed through the severe declines in prices
of the last two weeks and hopes were gen
orally expressed that the worst was over.
william ROckefeIIer Talks.
In response to en- inquiry from the Asso-
ciated Press. William Rockefeller said
''The present astonishing decline In the
values Of securities is as much a mystery
to me as II can be TO any one. know
that public confidence has been disturbed,
but l DO not think that IL could have been
in any such measure as to Justify so great
fall in prices When genuine overwhelm-
ing prosperity exists throughout the coun-
! try there certainly seems no adequate rea-
son for 1t. AS for myself and my asso-
| ciates, our faith in the future OF the coun-
| try has not been shaken at all and we
have been buyers and not sellers through
out the last ten days. Throughout bus-
ness troubles we have done and are doing
all we can to restore and maintain public
confidence. Il is very clear to me that
| the people who are throwing away their
securities at panic prices will sorely regret
It within the next six months"
Today's market opened very strong at
much higher prices than yesterdays close
ing figures Reading leading with rise
of II points Amaigamated Copper and
Union Pacific also were buoyantly strong
and with Reading lead practically the
whole list in a sharp upward movement.
There were the usual reactions, but the
tone held relatively strong. II was known
in Wall street, that bankers had reached
their offices early and that a careful in
vestigation Of the situation did not reveal
any cause of anxiety as to the solvency
Of any banking or brokerage house. This
knowledge had much effect on sentiment
and together with the announcement of
government relief for the money market
made late yesterday afternoon gave the
traders confidence that the situation threat
ehed no grave danger and that the money
market would be able to care for all legiti-
mate requirements. The trading continued
active with the general tone firm through
out, even the Is per cent money rate being
of little effect
Movements of Market Leaders.
AT the close the markek leaders showed
tho following advances from yesterdays =
close: Amalgamated Copper, 10; American
Smelling 10% Anaconda, slh; Atchison 4as
Canadian Pacific, 81; st. Paul. s%; Great
Northern, 64; New York Central, 81; Mis-
souri, Pacific, 6h; Northern Pacific, 5%;
Pennsylvania, 69t Reading, 1214; Southern
Pacific, ~; Union Pacific. liz; United
States Steel, 31k, and the preferred Sh.
All through the day there was heavy buy
ing by bargain hunters for investment
and their purchases were heavy enough to
strengthen the market each time that
prices weakened. Hundreds Of thousands
of shares are believed to have been taken
by these purchasers,
There were the usual rumors in circula-
tion today, but not much attention was
paid to them One was that e. H. Harri-
man had lost control of the Union Pacific.
Instant denial was given the report and
it had no influence on the trading Union
Pacific continuing strong at the close.
The Stock exchange galleries were filled
today with spectators, drawn to the scene
in the hope of witnessing an active and
excited trading market They were not
disappointed, for the opening was one OF
the livellest known in a long time. At 10
o clock the galleries were crowded and
there were hundreds of persons waiting
outside unable to gain admission.
Hartman Denies Report.
E H. Hartman will leave tomorrow for
virginia to join his family. Mr.. Harri-
man. in making the announcement of his
intention of taking the trip. said ne did not
intend 10 stop at Washington either on his
way south or on his return
J Regarding the Wall street rumors that
} the control of the Union Pacific had passed
from his hands during the recent slump in
; the stock market Mr.. Hartman said the
report was quite incorrect
Conditions IR London.
LONDON. March 16-Dhring the early
trading on the Stock exchange today prices
IN the American market were marked up
! by points, without much business. but with
quotations improving. which resulted in
some buying by houses which had left
Americans alone for years and also by con-
tinental bankers and investors. who were
attracted by their eheapness. The higher
= priced American stocks opened at to
points above New York parity.
Union Pacific opened at 1856 and soon went
up TO 49, but lost llh. Atchison opened al
sih. advanced points and then lost
; points
In the foreign section prices were steady
= American bankers and brokers here are
unable to account for the nervous condi
ton Of the market and can only. explain
that the operators in New York are alsc
at sea.
During the afternoon the various depart.
ments OF the Stock exchange held theil
; improvement we'll. COnsols advanced and
some stocks rising others falling slightly
! but on the whole prices became steadier.
The opinion was expressed here that the
recent shakeup in stocks will bring into
the market considerable investment money
philadelphia shows Response.
PHILADELPHIA. March 15-Prlees .of
the Philadelphia Stock exchange opened
from TO points higher than yesterday
close the advance being led by Reading
and Pennsylvania
MISSOURI ANTHOLOGY LAW
!. Governor Folk signs Bill which Goes