Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-03-19
new YORK STOCKS ANDBONDS
Market is Lower and Price Movement is
Less Feveush,
VOLUME OF SALES GREATLY DECREASED
Saturdays Rally was Due Largely "a
Buying by Bears who Had sold
short 60 the Last
Minute.

NEW YORK, March 1s-There was a
marked abatement OF eNcitment in the
dealings In stocks today from the enormous
transactions and wild price fluctuations OF
last week. The price movement stu showed
a degree Of feaverishness that was the after
effect Of last weeks turbulent market, but
the reduction in the volume OF the days
sales Is conclusive evidence Of the settling
back Of the market into more normal con-
dtions. So also was the check to the head
long advancing tendency of saturday, which
was wholly que to the distress OF bear
operators who had continued TO sell stocks
snort recklessly down to the lowest depths
Of Thursdays plunge and who were COM
PEELED to buy to cover on Saturday by the
volatile recovery. The very violence q the
recovery gave warning Of its unreliable
nature and speculative sentiment was
today: In fact the London market had al
ready anticipated this course before trading
began here and sent over materially
lower range Of prices than the closing
here.
The drop in the open dealings here was
wider than anticipated and had the effect
| OF reviving some Of the excitement which
prevailed last week. But It appeared that
/ the wilder fluctuations were largely due to
/ the plunging operations of a professional
| element which had become habituated to
/ free action by last weeks experience. Eff
fective support appeared in the market
and the proceedings then were much quieter
| and more orderly. although the renewed
weakness of the latter market made the
! lowest prices of the day. The market con-
| tinued to show the normal effects follow
| ing such price contortions as those of last
week that is II showed the lack of large de-
mand from shorts which were squeezed
| into covering I'm Saturdays market and
! felt the effects of reselling to take profits
! by those who secured in Thursdays slump
| or who had bought on Friday merely for
| the purpose Of supporting prices and avert
ing what threatened to become a dsa ster
! to the market. The diminishing activity Of
the market indicated the disposition to
pause after the severe experience of last
week and take stock of conditions and of
promise before entering again upon large
Inf Frrrnn Inn
as to the causes and the sources Of the IN
loading which produced the CONFUSION in
the market is still largely lacking Certain
conclusions, however, find warranted ac-
/ ceptance. The extent Of the liquidation
must have gone far to cure the trouble,
1t is taken for granted also that the in
Vestment demand, uncovered by the extent
Of the decline, must have largely reduced
the floating supply Of stocks in the market
Not only was the absorption by private
investors very large but investment insti-
tutlOns are believed to have taken advan-
tage Of the opportunity to extend their
holdings of securities at an attractive rate
OF returns. Confidence is felt also that the
reduction OF credits effected will afford
available resources for the better digestion
or some Of the new capital issues which
had become a glut In the market, obstruct
ing It's channels against the movement OF
other desired issues.
The money market showed the effect Of
the passing Of the March 10 settlements ant
us greater ease conduced to recovery n
foreign exchange. The Bank of England
however had to advance its bid to secur,
> the supply of gold in the Tondon rnarlSet
; RAILROAD traffic reports offered no trace o
Teactlonary tendency in business, whicl
; Lne Stock market slump has increased tn
watchfulness for. The last prlces shnv
level ' o'OSii
n value, g. 10000 'S' pa
y call. ' u'''ia"seu D
The following was the range OF prices o.
the New York Stock EXCHANGE.