Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-03-16
NEW YORR STOCKS ANDBONDS
Violent BebOu1d in Prices Occurs aud
clOSe is Buoysnt and ttrUne
HiAW BUYING BY BARGAIN HUNTERS
Outsiders Take Several Hundred
Thousand shares in Small Lots
and This Acts a. support
for the Market.

NEW YORK, March 15.-Yesterday' 3
presages Of further disaster in the stock
market were not fulalled today. A violent
rebound In prices occurred. instead. The
change in conditions was outlined before
trading began here by the wide advances
established in London. Prices opened here
from the demoralized closing Of yester-
day. This inviting level Of prices attracted
dicating that in some cases deals were
hastily closed out which had been carried
InIough yesterday, presumably with difi-
Guilty. This realizing shook the market
badly for a time and the violent reaction
caused "a revival OF acute uneasiness. But
the support made itself effective again and
" became evident that the panicky condi-
tons had subsidized. The market remained
teverish, but the violence OF the fiuctua-
tons was in diminishing degree.
The appearance of brokers offices this
morning indicated the arrival In the field
m force Of the class OF buyers known in
Wall street as bargain hunters" II ia
estimated that purchases during the day
in small lots by buyers Of this kind az
gregated several hundred thousand shares
ana appear no more until some distant
period of imitation and excited speculation
when they are added again to the burden
that market mantpulatOrs of a boom are
Obliged to care for. Buying OF this class
IN such volume on a single day is rare
snd formed a positive supporting factor
IN the market Much greater was its SEM
umental effect in regssurinE holders Of
stocks that the frenzied selling OF yester-
DAY at the extreme declines vas an un-
necessary sacrifice. This buying served to
correct the impression Of the utter prostra-
ton OF Investment demand. which was one
on the glooDiiest portents of yesterdays
panic stricken Ringing away Of stocks But
the readjustment Of sentiment was moi
achieVed without an eXertion of large degree
or main force in the market This came
"a tne shape or liberal buying orders dis
tributed in the principal stocks for account
OF large banking houses, as a result Of
consultations said to have been held last
a H. -.
market.
The taking Of such measures of support
was considered essential to prevent the
,heIunB away OF values from running to
lengths which might threaten the general
Sieuls SITUATION. A good effect was pro-
uuceo Dy the orders issued by the secre-
lary ~ the treasury after the closing of
me market yesterday. although some doubt
existed as to the practical result TO the
hhl0311ey market to follow. Responses from
hoiders OF government bonds to OFFERS FOR
redemption, even on advantageous terms
are proverbially slow and reIuctant the
liI,nltation Of the deposit of customs re-
SSelPts win banks to places where no SUBJ
treasury is situated practically nullifed The
measure IN It's effect on New YORK hofb
because because there is a subtreasury here and
because ~ per cent or upwards of ali ems
toms collections are made here 40 fbat
Lansfet TO New York from other points
I1onl tn IN proceeds Of these deposits will
prove or small account.
inc promise Is for weak bank return
r r,,stM, n not a deficit below the legal
49,. sSttleuts, Inc loss IN cash Is larger
nan the surplus as it existed last weel,
and It Is believed by bankers that nc
loan loan contraction by stock smarket Uouida.
slon mas been fully Offset by the special
t.eguIrements for credits In connection with
quay settlements. Call money TODAY was
not SO stin as yesterday, however, and
eS enects are expected from the return
% % s rI payments made today to the money
market. The market showed growing afSac,
on Ine restoration of confidence and CLOSED
DIhViyant; some of the days advances
WINE OF sensational proportions. did moi
ing of yesterday. uay sell
so bIonds were active and irregular. Total
neuS pat value $a,7b2OO0. United States
a, me following was the range of nrico. -.
the New York Stock excbarSa. - Ptioes on