Omaha daily bee., 1907-02-20
NEW YORK STOCKS ANDBONDS
Heavy Selling Due to Variety Of RumOr
None Of Which Are Verified.
UNION PACIFIC is SPECIALLY WEAK
It's Action Due 60 Prospective RE-
sumption of Hartman Investiga-
tiOn-RaDy Near Close But
Losses Are Not Regained.

NEW YORK. Feb 1.-the selling of
stocks TO-DAY was or "A volume ana In a
manner to seem portentous and was the
occasion OF an unusually large number of
rumors. Many OF these proved unfounded
and none were actually verified during the
session. This situation affected the al
ternatives OF surprising these rumors were
set atioat with sinister purpose 10 force
prices lower In the interest OF the bear
party or that they represented the blind
cropping after the real causes of the selling.
IHe most persistent and emcacious rumor
had to do with the affairs of the Equitable
Lire Assurance society and they became
so specific and 80 confident in their form
that the president OF the Equitable was
led to issue a formal denial of them, Re
covery set in after the issuance OF this
disclaimer Previous to that the impression
was conveyed that some OF the heavy sell
ing in the market was from the treasury
OF the insurance company, with various
Accomplishments in the way Of comment
on the collateral effects TO be assumed,
Inc coming resumption of the Interstate
Commerce commissions inquiry into the
Hartman railway combinations and the
Information alleged to have been pre-
pared by the head of the system for use
IN his examination were said TO be or
formidable import to the market. Tue
special weakness OF Union Paclhc Ws We,
due to this impression. Coming activity
in the field OF investigation OF Depart
ments OF the state government At Albany
was another favorite theme much harped
upon in the days gossip, ana banks and
trust companies were said to be the pros
pective field of the medium OF the state
banking department.. On the
side II was said that the coming change
in the administration of the Treasury de-
partment was the occasion for misgivtngs
on the part of powerful financial groups,
for reasons which supplied ground for
numerous variations in the current
rumors. The pressure against Pennsyl /
vania was directly traceable to the inti-
nations of another note issue, the an
nOuncement of which was made formally
during the day. The Importance of the
operation was modified by the fact of the
total issue of $50, OOO, 900, all but $4,000
900 designed for the extension of notes
already outstanding, the S50,0O0,000 SO
provided maturing November !. An
additional mitigating effect was the &C
companying explanation that this would
complete the necessary financing for the
company this year and would obviate the
/ Offering in that line of any OF the new
stock and bonds which the stockholders
will be asked to authorize at the annual
meeting. The report of the terms of the
issue caused a violent rebound In Penn
sylvania and added to the recovery else
where which followed this statement
/ from President Morton of the Equitable
| company The recovery was held fairly
! well to the closing but considerable losses
| remained at some points of the list.
Bonds were heavy. Total sales, par
| value, S1,222, 000 United States %, regis
| tered. advanced y per cent, the coupons
| y, and IS, coupons, n per cent on call.
The following was the range Of prices on
the New York Stock exchange: