Omaha daily bee., 1907-04-26
new YORK STOCKS ANDBONDS
Market Makes But Feeble Response 70 News
Developments
CROP REPORTS ARE CONTRADICTORY
Chicago Great western Weak on
Report of OvercnDitaliHation-
Days Net Changes Are
Trivial.

NEW YORK, April 25.-The stock mar
ket made but feeble response TO any news
Developments, the determined abstenuon
OF operators on any important scale mark
ing the state of speculative sentiment.
That remained vaguely formed and hest-
tating in the highest degree. An important
factor in making this condition Is the un-
satisfactory news from the wheat crop.
Present conditions In the winter wheat
belt are generally recognized as unsatis-
factory and the news from day to day Is
change that condition. No such news was
received today and the evidence Of strength
In the wheat market was a burden on
The reduction in the Bank Of ireland dis
count rate was of no effect probably be-
cause It had been foreseen with. practical
certainty The Bank OF France retains
its recent discount rate and, while there
was no such certainty felt that Il would
be reduced as In the case of the Bank
Of England, there was some expectation
held OF such action. The Bank Of France,
IN fact, made a strong return IN the
q large reduction Of credits and OF outstand-
ing note issues although It's cash gain
was very moderate. The imperial Bank
Of Germany showed a strong recuperation
and discounts eased both I'm Berlin and
London. Foreign exchange was slightly
easier here. London continued to sell
securities here, however, to ar extent
sufflcient to weigh on the very narrow
| market The announcement was made
during the day Of the coming dissolution
/ on May 1 of the syndicate which under
3
/ bonds in February, 1906. These bonds have
I been quoted we'll below the underwriting
| price and receded sharply today on the
/ understanding that the largest part OF
/ the issue had been unmarketed and would
/ be distributed to syndicate members. The
! incident served as an unpleasant reminder
| that much remained to accomplish towards
| the absorption Of congestion in the bond
| market Some special significance at
/ tached to the notable weakness of the
! Chicago Great Western issues, which was
attributed to the report of its capitalize
/ ton by Minnesota legislative committee
Some anxiety was expressed lest the Min.
nesota example should be used as a pre-
| cedent I'm other cases. Market sentimen
is sensitive to suggestions of the prosecu.
! ton OF q policy of government regulation
| OF capitalization based on appraised val
! uation. An unpleasant impression wal
| caused by rumors kept in circulation o.
! which may be brought out in firm an,
partnership changes In some cases. Fo
this reason the first of May is locke,
! forward to as a period where the passin
will be viewed with relief.
The financial district was not gratihet
over the course Of developments in a Grim
inal case involving populations from
trust company and the effect was aggra
waited by the suggestions OF mystery abou
possible extension OF criminal liability
The stock market had some beneit frou
the late reaction in the wheat market, al
though that movement was due to realiz
ing OF profits IN wheat and was withou
change in the character of the crop news
The days net changes are trivial almos
without exception.
Bonds were heavy Total sales par valu
, 81 $4,000 United States bonds were un
changed on call.
Number Of sales and closing quotation
/ uNn q