Omaha daily bee., 1907-03-12
new YORK STOCKS ANDBONDS
Long Period Of Liquidation has Appsr-
emily Hun its cOurSa
MARKET OPENS WITH UPWARD sFbST
Due 60 Ruying ~ Uncovered Bears
ana Fact that Commercial Reports
more Than onset Pessimistic Talk
OF Railroad MaEnates.

NEW YORK, March 1.-THE action Uf
the days stock served to strengthen ma
terially the impression that the long period
OF liquidation had run its course. This
superstition was already forming itself In
the speculative attitude towards the mar
ket last week owing TO the obvious absorb
ton going on az various points In the stock
list, even while the most acute weakness
was susceptible at others.
saturdays strong closing left the bears
uneasy over their uncovered position and
prices opened with quite an upward squirt
The market had It's periods Of uncertain
fluctuations during the day and closed dis
tlnctly easy. This did not obscure the fact
that speculative sentiment was substantially
Improved and much Of the gloom which
overhung the market last week was dis
persed. The improvement OF the market
must be set down In larger part to sub
sidenee OF the pressure to sell than TO any
cided diminution In the volume OF the mar
ket Is an index OF this fact However, the
demand was more than sufhcient to over
weigh the greatly lessened selling and to
carry prices substantially and compre-
hensively upwards. No striking change in
conditions was cited as the occasion for the
change In the current Of the price move
ment but the extent of the declines al
ready forced, IL Is argued, go far toward
a readjustment Of prices to a wide possible
deterioration from present Industrial con-
ditions This contention is given additional
force by the continued absence OF any sign
or the upward reaction in the different
trades. The mercantile agencies report q
full tide OF demand for all lines of merchan-
disc with business above last years CORE
spending period The countrys bank clear
ings last week showed a material expansion
over both the preceding week and the cor
responding week of last year Railroad
traffic officials continue to complain of
lack Of cars to move freight, which Is Of
ferinB still in undated volume. Authon-
ties in steel trade insist that the demand
for all lines OF flashed products continues
at flood tide. These conditions serve to
keep in check the apprehension caused by
the avowed purpose OF the railroads to re-
trench all possible new OUTLAWS for improve
ments
The tone of the call money market was
perceptbly easier today in spite of the
weak showing of the Saturday bank state
ment. The large cash loss showed by the
statement was attributed to a rectifcation
OF the previous week. Some important re-
quirements for stock and note subscriptions
are to be met this week New York's bid
for gold In London today was again inef-
IectlVe except to cause a fractional advance
In the price which the Bank of England
was obliged to pay for gold. Sterling eX-
change at Paris was again strong and II
was reported that part Of the London sup
| ply OF gold was made up of American
/ eagles, presumably received from Paris
money and discounts receded in London
| but advanced in Berlin. Time money was
| strong here, With loans at s per cent fol-
/ periods up to sig months. The banks, how.
ever, are making large payments to the
| IT is reported that the full 5000, 900 quota
/ OF the monthly retirement allowed under
/ the new law has already been applied fol
/ at washington for this month. The days
| extreme advances were materially reduced
! by the proht-taking of the final hour, bu'
| substantial net gains were left. The clos.
| ing tone, however, was easy.
BONDS were irregular. Total sales PAL
value, S254O.OO0. United States bonds were
unchanged on call
The Following was the range OF prices OF
the New York Stock exchange: