Omaha daily bee., 1907-02-22
NEW YORK STOCKS ANDBONOS
Volume Of Business Smallest Of Year
Because Of Approach Of holidays
PRESSURE AGAINST ALL hill ISSUES
Statement of Great Northern MaEnate
that Reaction Has Set In Disturbs
Prices-Poor Bank Statement
Expected.

NEW YORK. Feb. 1.-THE stock market
was unimpOrtant as marking any extensive
adjustment Of financial relations OF As
renectiCn Of events upon the movement OF
prices. With a three day holiday inte.N
IN prospect there was no disposition 70
enter upon any new commitments to De LETT
to the hazard OF unexpected developments
at a time wnen action or security hoil-
ings would be hampered. The usual ten
dency at such a time Is rather TO reduce
commitments. 80 lar as the process was
followed today the impression was lett o.
very small speculative commitments IN the
the market to be retired. 1t was the small
est days business of the year ana prices
moved only with the greatest effort by the
The special weakness OF Union Pacific
which has been the feature OF the recent
market was no longer in evidence, although
the resumption OF the trading on Monday
is likely TO find the dreaded Interstate
Commerce commission inquiry In force
! stock seemed to be prompted by the out
spoken assertion Of the head Of these prop
| critics that a reaction in business which
has been vaguely argued as possible in
recent stock market discussion had &C
tuslly set in. The weakness Of the group
seemed not to be mitigsted by the fact
| that Mr. Hill was inclined to except the
northwestern territory from the field Of
\ the reaction which he perceives to have
/ reaction as a means OF relief from some
Of the embarrassments in the money situ-
i alton as well as Of other strained railroad
/ conditions. Reading was under pressure on
/ reiterated rumors OF an Intended note is
/ sue, WnlCn were without any cOnuTtnauOn
| during the day. The news from Washing
| ton that the general board OF the navy had
been in conference over the national defense
was Of some effect In keeping alive vague
misgtving over the possible results Of the
| California school difficulty with japan.
/ The likelihood OF a poor bank return to
appear before stock market operations are
resumed was taken account Of. The banks
seem 20 be gaining thus far this week on
the interior movement, but not sufficiently
! 80 to offset the Withdrawals by the sub
treasury. The outcome of the discussion
OF the Aldrich currency bill also may
change the current OF influences in the
market The Bank of England weekly re-
! turns today clearly showed the continued
control Of the money market by that insti-
tuition. chiefly by the large increase In gov
eminent deposits, which serve to decrease
the money supply in the market and 10
compel resort to the bank by borrowers.
i The considerable increase in other secur-
! tiles Is the consequence 1t was this in
crease that was responsible for the decline
in the ratio OF specie, the bullion holdings
showing a liberal expansion. The Bank
OF France reported moderate improvement
in position and sterling exchange at Paris
moved up. Discounts hardened in London
ana eaSed in Berlin Prices here were
little changed on the day, although the
attack on Reading and on Baltimore a
Ohio was renewed late in the day
Bonds were steady. Total sales par value
II $500. United States bonds were un-
changed on call.
The following was the range of prices or
the New York Stock exchange:
Sail TN.k