Omaha daily bee., 1907-04-03
new YORK STOCKS ANDBONDS
Market iS batting and frregulaO OF
Extended Profit Taking.
BIG DECREASE IN BUNKG ORDERS
EARLY Rise on Higher Prices In
London Followed By wavering
and Uncertain Move
ment.

NEW YORK, April 2--The stock market
was affected today by the pace at which
the recovery has been going from the ex-
IRENE depression Of the first part OF last
week. A disposition to take profits on the
Is cOincident with a lessened inclination to
buy stocks.
fhe sustaining measures which have been
apparent for several days past were not
entirely Withdrawn, however, and the con-
sequence was a hating and irregular move
ment Of prices which testified to the con-
met OF forces in the market. The conflict
relapsed more and more into professional
hands and the quotations increased In dull
ness s The measures Of support in the mar ar
unfavorable influence OF the fall in prices
in London. The prices made In London
early today after triple holiday were
much higher than where they left on
| Thursday and the tone was firm. Those
early prices in London were regarded as
local market here had no difficulty in
bringing quotations well over last night 8
level The, aggressive strength Of few
stocks had large sympathetic influence
on this result. 1t was from this restored
level of the market that the movement be-
came wavering and uncertain again. There
was no immediate DEVELOPMENT In affairs 10
| account for this action and Il was at
| tributed largely to technical causes. The
large covering operations by the bear party
| for several days past have served to reduce
| greatly the outstanding short interest In
| the market which deprives the market Of a
| potent demand for strength. Buyers dur
| ing the depression appeared as sellers to
| take profits. Some attention was paid to
| the course of the news from Washington
/ and some part OF the heaviness In the Har-
| riman stocks was attributed to the senti-
| mental effect of the position OF antagonism
between the president and the head OF that
! system revealed by publications during the
gay, The professed confidence of a party
| IN the speculation yesterday that the pres
! dents utterance on government policy to-
| wards railroads would abate all alarm on
! the subject In financial markets was not
! SO active a factor in the situation.
/ Ia a o1or,v, - . ~
! day were in the money markets. The re-
| taxation there was marked and practically
| universal both here and abroad. In London
| the private discount rate yielded TO below
the bank rate for the first time in many
| weeks New York bankers secuped $500
GOO OF gold in London without bidding higher
than the prevailing rate The effect was
| pronounced, however, on the sterling ex-
cnange market here, which rebounded vio-
lently. Sales of securities here for for.
eign account added to the demand for for.
elgn exchange. The relapse in local money
rates also aheoted foreign exchange. The
funds Offering in time loans were notably
quoted for all periods Borrowers were In.
tie inclined to employ time loans with
| can loans fast yielding to almost nominal
hsures. These conditions helped to the
laIer recovery IN stocks Very confident
predictions that the Atchison dividend rate
| would be raised to 8 per cent tomorrow
put up the price of that stock The davis
| net changes showed declines predominatinr
! ana the closing of the market was rather
Bonds were more benefited by the RISING
money market than stocks and there wal
an appearance Of a considerable absorptiy,
demand at rising prices. Total sales paI
, valIe, G,gIZCOo. United States bonds were
Number Of sales and quotations on IN,
new YORK Stock exchange: