Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-01-29
new YORK STOCKS ANDBONDS
Decline IN Prices is Resumed After Desul-
tory Fersd Of Resistance.
BLAME PLACED ON OIL REPORT
Activity of Government In Attempting
TO Remedy Corporate Abuses
Alarms stock specu-
IatOrs.

NEW YORK, Jan. B.-The decline in
price OF securities was resumed IN the
stock market today after a period OF ae-
sultcry resistance during the early hours
of the stock exchange session. The In
different demand which became manifest
at any rise In prices and the apprehension
effected prompted the renewed selling OF
the market by. professional operators.
and there in the list to CONFIRM them In
their attitude towards the market. As a
motive for the selling much was made Sy
Interstate Commerce commission en-
bodying the results of its investigation OF
the Standard OIL company and trans
mitted to the congress.
The substance of the report was not
unknown to Wall street any more than was
the similar report transmitted last week
on the eastern coal carrying railroads. but
the publication OF the reports made an inn
preston on financial sentiment as cumu-
lative evidence Of the scope Of the govern
ment activity against corporation abuses
This influence was supplemented also by
the circulation Of rumors of further recon-
mendations to be expected from the presl-
dent looking to an extension of the COM
missions inquiry into railroad properties
The prominence in public affairs which the
pursuit of corporations has attained, ls
given large responsibility In the opinion OF
the financial world for the difficulty In
II is felt that II adequate capital is not
forthcoming the march of Industrial prog
ress must be checked. The extensive sale
the railroads at high interest rates Is un>
derstood TO be for the completion OF works
entered upon and which would involve
sacrifices In the abandonment and the i'm.
preston is growing that enterprises for In
crease Of facilities beyond will be cur
tailed as far as possible while such rates
must be paid for money to carry them on.
The abandonment or curtailment OF works
Of Improvement on a large scale would be
necessarily an important element I'm re-
ducing employment of labor and demand
for materials Of construction, which might
have a determining influence In the turn
of Industrial tide towards reaction. There
were minor incidents In the days events
to keep this point of view prominent, such
as reports that the course of the iron mar
ket indicated that the cream was of the
iron and steel trade or the receipt OF
statements of railroad net earnings for
December showing uniform tendency to-
wards decrease from last years level owing
to the large increases in operating eX-
penses. Quite positive assertions were In
| circulation that a decision had been rem
dered against any increase in the diVi-
| dend on United States Steel at tomor-
| rows meeting of directors.
| Rates for time money advanced again to-
| day. Government fiscal operations are
! against the money market again, the sub
| treasury having already absorbed 81, 4S2.
900 on the new banking week. Discounts
| hardened also in London in spite Of large
/ gains In cash by the Bank of England.
! The stock market settlement this week in
| London Is a source of heavy money re-
| quirements and of some anxiety regard
! ing the market position In Americans. The
decline gathered force as II progressed
End the closing was very weak and active.
Bonds were irregular Total sales PAL
value, $1,570,000 United States bonds ad-
! vanced Y per cent on call
| The following was the range of prices on
the New York Stock exchange: