Omaha daily bee., 1907-02-08
NEW YORK STOCKS AND BONDS
Hesitatine and Irregular Advance BrOadenS
0utin Final -Four.
RAILROADS cURTAlL IMPROVEMENT PLAN
This Has Eject OF Decreasing Demand
for New Capital and Advance
I'm Freight Rates Will
Increase Earnings.

NEW YORK, Feb. IA hesitating and
irregular advance broadened out in the
more animated and comprehensive rise
than has occurred at any time since the
decisive downward tendency OF prices set
largely in rumors of washington origin
of a new development there that should
relieve the corporation world from the
mlnistration of the government. Up to
that time there were long periods OF
dizziness in the trading and the same lack
Of follow-up to the movement that has
left the market without definite result.
There was an absence of the weakness
in individual stocks which has been an
even when the general tendency was up
wards, and this was In favor Of the mar
ket. A temporary setback in Missouri
Pacific after the first recovery was the
only exception of Importance. There was
no clear reflection In the days market
OF any important Developments In the
condition OF AFFAIRS. Sentiment was IA
vorably affected by the advices from the
winter wheat regions of ample snow COW
ering to insure the safety of that crop
future. The wheat market was affected
at the same time by the promises Of extra
foreign requirements for wheat from ron.
southwestern railroads were mostly i'm
mediately affected by this outlook.
Assertions Of an intended increase in
Pacific, which have been often heard,
were also used with effect, especially in
the case of Atchison. Southern Pacific
TO the later rise in Union Pacific upon the
reported return to his office after Pc
Rod of illness Of the head of these sys-
TENS. Erie was a conspicuous feature
of the strength. the movement showing
evidence Of being under the same auspices
Prospects for the PROPOSED Increase in
freight rates, which are being canvassed
extensively in the railroad world, gave a
served TO counterfeit to some extent the
showing of decreases in net earnings of
railroads by reason of increased operat-
ing cost which has now become a general
tendency. The traffic managers plan for
raising freight rates Is looked to as q
possible means of increasing earnings and
of the present supply of equipment The
intention of railroad companies to re-
trench their plans for any future projects
of improvement Is now generally accepted
as fixed determination. A reduction of
the pressure for new capital is expected
to result. But also a subsistence of part
OF the demand for materials and for labor
is TO be accepted as an inevitable conse-
quence.
The question Of how far this process
In industrial activity is now believed to
account for the recent action OF the stock
market where operations were reflected
of railroad authorities to curtaii theiI
Improvement plans.
The feature of the day In the money
market was the free offering of funds or
time supplies coming into the market
from many sources and causing a material
recession In rates. Foreign exchange was
firmer, although the strong position re-
ported by the banks of England and
| France showed the growing strength OF
the foreign financial position in spite OF
the retention of the 5 per cent discount
rate by the Bank of England. While tn,
late rise in stock broadened out to some
extent, IL was still largely specialized
| in the early favorites. The closing was
| stnong at the best.
Bonds were firm. Total sales. par value
$2,0s0.000. United States bonds were un
I changed on call.
The following was tho range of prices or
| the New York Stock exchange:
SAIL ~ Yarv