Omaha daily bee., 1907-04-10
new YORK. STOCKS AND BONDS
Character Of Operations Suggests DONNA
ton Of Professionals In Dsslingt
EARLY ADVANCE FOLLOWED BY REACTION
values Return 60 Near the Starting
Point After Many Fluctuations
and Closing Tone f.
Easy.

NEW YORK, April 9-The character OF
the operations IN stocks today continued
70 suggest the dominance Of professionals
in the dealings. Transactions were. con
Quoted with signs OF Organization and con-
cert and were largely congested In few
stocks, usually fayorites in such operations
The market lacked breadth, and complaints
from the commission houses Of the small
orders for execution showed that there
was small general participation In the
market. The market was much the same
as that of yesterday. except that the ad-
The return to near the starting point after
considerable fluctuations was the same in
both cases.
The stocks which were Of most influence
in the leadership OF the early advances
were subject to special influence largely
in the shape Of unconhrned cOnjectures.
American Smelling was conspicuous fea-
ture and responded to very positive asser-
lions that advance in the dividend rate
70 10 per cent had been determined upon.
There also was talk OF a probable coming
increase in the dividend on United States
steel. No authority could be found for
these reports. The movement in Canadian
Pacific was attributed TO a fresh turn
against the short interest In that block
Much was made also Of the continued down
ana abroad. Discount rates declined in
London, Paris and Berlin and cable adj
vices from London were Of a general
expectation that the Bank OF England
would reduce its official discount rate this
week The Imperial Bank of Germany
made Its weekly return and showed mOder-
the April settlements, recovering 81. 900 OOo
OF the previous weeks loss Of s35 800, 900 in
cash while S29, $4,000 Of the $50 4g5 900 credit
extension OF the week before was repaid
and SS4055, 900 OF the $94. $4,000 note expnn-
sion Of that period was recalled. Never
theless stocks continued to be sold here
for foreign account, and the opening OF q
new account in the London stock market
revealed small commitments in American
securities Notwithstanding the low carrying
rates
The strength Of the market was quite
general in the early part Of the day and
the development of marked weakness in
the Southern railway stocks came while
strength was stu marked In the rest OF the
market. The fall in these stocks suggested
a renewal Of the kind Of liquidation which
was In force last month and caused some
ulsquletude, and the whole market was
not long in responding. Contectures that
further capital needs remained to be met
presumably at onerous terms, made the
only news to account FOR the movement IN
southern railway. The Fries showed close
sympathy, owing to the analogy in the
situation, and credit facilities OF the two
companies. Some effect on sentiment wa g
produced by the reports Of a pending note
issue by the Delaware e Hudson suggest
ing the likelihood Of a general resumption
or this form OF financing to follow any
large additional supplies to banking re-
sources,
The later weakness OF the market wa
aggravated by reports from washington
! that the deposit OF customs receipts with
the banks was to he discontinued for the
/ present and also that proceedings would
| be had to compel E, II. Hartman 70
| reply at the Interstate Commerce commits
| sion's hearing. The closing tone was steady
Bonds were heavy. Total sales par
value, A.8SOOo United States bonds were
Number Of sales ana quotations on the
new YORK stock exchange: