Omaha daily bee., 1907-01-11
NEW YORK. STOCKSAND BONDS
MARKET is Dull and Narrow and Movement
IL Sluggish.
GoUlOS AND HARRIMANs ARE LowtI
Legal steps TO stop Alleged Unlawful
Practices Causes Pressure Against
stocks ARected-CIose Is
Irregular,

NEW YORK, Jan. 10-The stock market
today was exceedingly dull and narrow
and the movement Of prices very sluggish.
There was some appearance Of good alb
sorpton OF few stocks. which had a
sympathetic strengthening effect on the
genera! market, but the responsive move
ment dragged DULY. The demand that Inn
pressed sentiment was for a few of the
speculative favorites and had the appear
ance OF revived operations by pools which
were previously active in the stocks, but
which have been quiescent for some time.
ST. Paul and Reading were especially IA
yored In this class Of operations. There
York Central and some OF the industrials
below the first class, especially among the
railroad equipment companies, made good
tracted to the market leadership thus as
serted, but II had an influence on senti-
ment as indicating the supposed opinion
toward the speculation Of large capitalists
and habitual operators in stocks. There
were laggards In the upward movement and
exceptions after It was inaugurated.
The activities Of the Interstate Com
merce commission and of other govern
mental functionaTtes in measures of in
CURRY or opposition to corporations seemed
10 focus the depression. It was perceptible
In the early heaviness of Union Pacific and
also In the weakness Of the Gould stocks,
presumably based on the suit Of the Mis-
souri, state officials, against the combina-
ton amongst those roads. There was a
sharp break in the Canadian Pacific group,
,wnlch seemed to be connected with the
those stocks in connection with hopes OF
dividend increases which have not been
tully realized. The impression due to the
governmental activities in pursuit of cor
poraton irregularities was deepened by
the news Of steps taken to place legal OBJ
stacles In the way of the departure out OF
the Jurisdiction OF the authorities OF influ-
entail financiers from whom information is
sought In the pursuit of the inquiry. On
the SIDE OF the money market developments
were in favor Of the market The post
ponement by the secretary Of the treasury
of the date for the return of the $4,000 COO
OF government deposits with the national
OF the installments two weeks was re-
ceived with relief as the removal o. a
threatened embarra ssment before the re-
cuperation of the banks had been suffl-
ciently completed to make the transaction
easy. 1t was accepted also as implying a
further postponement by the call for the
26OOC'OO OF government deposits which II
was intended originally to begin to call in
on February l. The Bank of England s
retention of the per cent discount rate
was not a surprise in view Of the continued
Withdrawals for today were 81. 900 for
shipment from London to South America
The strong weekly return was thus neu-
traiized 1t was made evident also that a
to the gold import point would be regarded
as disturbing incident in the London
market. The Bank OF France reported a
small decrease In gold holdings but a
heavy loan contraction. The call loan rate
here ruled below per cent and there
were no bids higher than 6 per cent for
effect of the break in the Gould and Cana
dian Pacific groups impaired the earlier
strength Of the market and the closing was
irregular, with mixed showing Of net
Bonds were irregular; total sales. oar
value, N,952,000 United States % COUPON
declined II per cent on call
The following are the quotations on the
New York Stock exchange: