Omaha daily bee., 1907-03-08
NEW YORK STOCKS ANDBONDS
Violent Agitation in the Market sub1ides
toa Great Degree.
TUYSe OF RtADNs UNEXPLAINED
Volume of Transactions Shrinku
One-HaIf and Close is weak
General Tone IL
Irregular.

NEW YORK. March THE violent agl-
tation which was present in yesterday
degree and the volume OF transactions fell
away nearly one-half. The constant heI-
yous fluctuations of prices, howeVerl
the exciting turmoil of yesterdays almost
unprecedented market. Sentiment was
greatly depressed by the weak closing s,eDt
they were by no means as large as yester-
day. Yet they sufficiently reflected the ex-
tremely unsettled state Of speculative opin-
ion. The active operations at different
points in the market, however. showed me
existence Of two well-defned parties IN me
speculation. There was belated liquidation
In some stocks which appeared to be dras-
tic and was OF severe effect on prices. At
other periods prices held with stability
Of persistent and extensive kind. The
market gave way again and again In SYM
pathy with the outbreak Of weak points
and as often rallied in sympathy with the
resiliency displayed by some OF the railroad
stocks Of prime Importance until the SUD
den weakening OF the whole market at the
closing. The result was to keep market
observers I'm fever Of hesitation as to
whether the elimination Of the long de-
cline was signalized by the abrupt drives
against the shorts precipltated by the
panic amongst the bears in Reading yes
| terday. The market started with an ag-
gressive reassertion of bear tactics which
| forced violent reaction In Reading Itself
and a severe decline in Canadian Pacific.
Almost Immediately prices rebounded to
| a level well above last night. These
/ movements decided the uncertainty Of the
speculative temper for the whole Of the re-
The impressive dealings in Reading re-
| NAMED a mystery. Failure Of authorita-
| tive confirmation OF yesterdays rumors of
the passing Of control threw them into dis
| credit and opinion remained divided be-
| tween that supposition or one of purely
speculative operation, with effective manip-
| ulation against the over-extended bear &C
count. Atchison also was a severe suf-
| ferer from renewed selling, which was as
ISOLATED with the doubts over the hoped
| LOT increase in the dividend rate The liqul-
dalton In Southern Railway and Erie was
so pronounced and of so ominous a char
| acter as to throw the balance Of the whole
sion Southern Railways report of a de-
cline In net earnings for january of nearly
| ~ per cent gave point to the expressed
Tears tor the reduction or the passing OF
the olvloend on the preferred stock. on
| the other hand there was steady ABSORB
| ton OF the Hartman. Hill and principal
t uera line issues; The Hartman stocks
earnings for January which showed ar
| increase for Southern Pacific Of 40 per cent
and for Union Pacific Of 10 per cent. Re.
OF unabated activity, approaching buoy
anoy in some departments, but United
STATES Steel weakened in common with the
! georgian stocks The money situation con
unues disturbing factor and today rl
mors OF financial difficulties in Berlin ant
PaTTs although unconfirmed. had a dis
made weak return and the movement o.
our exchange market against London haI
a depressing effect there Interior e.
chanse at Chicago was at Is cents disooun
today and the cali money market hold
urn mere IN spite of the heavy stock mar
ket liquidation. MOI
value, 81, $4,000. United States new Ss con
ppr oeciined n per cent on call
me Following was the range of prices or
the ne" York Stock exchange:
Gale n