Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-05-08
NEW YORK. STOCKS AND BONDS
Professional Operators Fave Market to
Themselves Practically all Day,
THE TENDENCY OF PRICES DOWNWARD
Proat Tal<inG I'm Union Paeiac, Read
ing, Delaware a Hudson and
New York Central Cause
Them 60 Decline.

NEW YORK, May 1.-The professional
operators In stocks had the market much
TO themselves today. They found the line
accordingly sold and offered prices down
10 seek profit on the short side Of the
market. The sentiment OF the day was
one OF depression, fOstered by several con-
siderauons. The most effective OF these
was the abandonment OF the recent opera
tons for the rise in the deal Of stocks
which have made up the largest proportion
Of the dealings for a considerable time past.
The perception Of the fact that profits we're
being taken In these stocks and the running
out OF the demand for them aroused the
suspicion OF manipulative origin for the
extensive advances which have affected the
tone OF the whole market In consequence.
Union Pacific and Reading have made up
the bulk Of the recent market and their
relapse today did not leave room for es-
cape of the general list. The check to the
rise In Reading was reinforced by the
marked weakness in Delaware q Hudson,
which developed yesterday and continued
today The pressure on this stock had the
appearance or liquidation. Reports OF new
securities were amongst the attempted eN-
plantations. Union Pacific was also the sub
1ect OF recurrent rumors OF an issue OF new
securities to finance its requirements New
York Central was under some degree of
pressure which was attributed to the dis
appointment felt by shareholders over the
large dehcit below the dividend requirement
shown by the earnings for the March quar-
ter. This showing In fact has proved a
FACTOR OF depression in the whole market
and It's influence has not subsidized with
the interval elapsed since its publication.
Crop prospects continued to be an in
huence In the market The weekly bulletin
OF the weather bureau gave concise infor-
nation of decidedly unfavorable" condi-
lions over large part of the winter wheat
region. Traders In stocks were inclined to
discount an unfavorable report from the
Agricultural department on Friday. There
was some discussion of possible unfayor-
able developments in the money situation
prompted by the suggestion OF an early
INV
rumors that the secretary of the treasury
was about to withdraw part of the gold
deposits with the banks. There was a de-
cline in sterling exchange here and a rise
at Paris during the day, both Of these
movements widening the margin which
| sun exists before gold shipments to Paris
would beco ne profitable. The alleged in.
| tention to withdraw government deposits
was denied. Transfers of $20OOOOO to San
FRANCISCO yesterday and today were said
! 70 be Induced by the progress of recon
struction work in that city The movement
- a factor in the diminishing bank reserves
IN New York. Some depression was trace.
able to the opinion OF the revived chances
1 OF the enactment of the public utilities bill
at Albany, The longshoresmen's strike was
| regarded as an unpleasant incident In its
possible enects on railroad traffic center.
ing here Covering by shorts caused a re.
| coYery Of part of the days declines
! Atchison developed some positive strength
| attrlbutal 70 more favorable views of ths
| oontrovertible bond Issues
Bonds were irreguR1 Total sales mai
unchanged on call
Number OF sales and closing quotations
] on stocks were: