Omaha daily bee., 1907-02-15
NEW YORK STOCKS ANDBONDS
Effort TO Lift Prices is Followed BY =
Reaction.
WEDNESDAYS BUYERS TURN SELLERS
Expected Increase In Dividends on
Harrimans Does Not Come and
This Adds 60 the
weakness.

NEW YORK, Feb. 1G-Yesterday's prom,
Use of rising prices for stocks was not heid
today and the failure OF the efort TO III
prices was followed by reaction. news
mad little to do, apparently, with the action
OF the market The decisive influence was
the perception that the improved demand itS,
melted by yesterdays encouraging acton
of the market was being taken advantage
of to realize on the part of the purchasers
of yesterday. The professional traders , &C
days operations were designed Tor snoIt
turn on the market. When this realihlns
was noticed they offered prices down. Win Win
most available movement of prices. Inc
early buying. which helped to improve the
early realizing was due to buying for snort
accounts. The action of the coppers was
particularly disappointing to the speculative
element, as hopes had been formed OF
Spouse to the conditions in the metal mar
ket Anaconda gave quick evidence OF
pressure to realize and Amalgamated Cop
per also was clearly under pressure. one
prospect of a leadership In the speculation
which had been relied upon to continue the
sovsnee was thus lost Inc hartman n, JIM
lative material, being confined TO the regu-
lar dividend declaration on Union PACING
and Southern Pacific. Assertions Tor some
time past that the Southern Pacific divi-
dend was to be raised have received no
authoritative countenance. But there was
that the meetings might offer some such
electrlfylng consequences as fonoweo the
last dividend meeting last August when
the Union Pacific dividend was jumped
from to 10 per cent basis The prosaic
termination of today's meetings by CONTRAST
was followed by considerable selling OF
stocks all through the list.
Wall street has made much markotwise
for many days now of a suppostion that
the attitude Of the Washington admins
tration towards combinations OF capital
was to undergo revision. Visits to the
White House of capitalists active and con-
spicuous In the financial world have given
rise to these conJectures OF a treaty. To-
day there was rather notable Occurrences
in the substance Of several news dispatches
pointed to Information from first hand
sources and which rather belled the as
sumption of q change in the administra-
tons attitude. Some effect was produced
on speculative sentiment by the revision
! thus forced of an impression built upon
unsubstantial rumors Money. worked
| easier at first, both for call and time loans,
| and no effect was apparent from the prepa-
| ration for the return tomorrow OF $6O0O,0Oo
| of government deposits which had been set
| for that date until near the end of the day,
| when the rate touched per cent. The
| conviction was held in some quarters that
| the withdrawal of this money would be
postponed, but no oficial announcement
! from Washington appeared as the basis for
| the assumption. Another 5000, 900 note Is
sue, this time by an Industrial corporation,
! the Lackawahna Steel company caused
| some recurrence of the unfavorable impress
sion due to these issues. The shorts caused
profits but the closing tone was weak.
Bonds were heavy Total sales par value
| 81 $4,000. United States 3s and the old II
| advanced Il per cent on call.
The following was the range OF prices or
the New York Stock exchanges: