Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-03-20
new YORK STOCKS ANDBONDS
MARKET iS Nervous All Day aud hoWs Signs
Of Breaking Away from Control
MANY BULL ACCOUNTS CLOSED OUT
stocks Thrown over IndIscriminateiy
and General Drop I'm Prices Ensues
Close t. Irregular After
slight Rally.

NEW YORK. March l9.--Today's nervous
stock market was regarded as a natural
consequence Of the Generalization Of last
week, but weakness and uneasiness were
much more acute than were expected and
gave rise to fears at times that the market
was breaking away from control again and
slipping back into frenzied conditions.
There are always some strongly held ac-
counts which are held through slumps like
that Of last week and protected with the
belief that they can be closed out to better
advantage by waiting for the frightened
selling to be finished. These accounts are
that they are subjected to pressure, by by
brokers, banks or others concerned In help
Ing to carry them, to close them out at the
nrst opportunity. Such a reaction as that
OF yesterday following the reduction Of
the uncovered short account adds to the
weakness Of these held-over bull accounts
and to the urgency for closing them out.
The selling during the first hour today
aroused the suspicion that every large &C
count of this kind was being forced to
liquidation without regard to the ability
OF the market to absorb the heavy offer
ings. The Identity OF the account was not
disclosed. but rumors became very explicit
OF a threatened embarrassment.
A good deal Of anxiety was expressed
also over the money situation abroad. II
was somewhat remarkable that this anxiety
was fostered by the persistent abstention OF
New York bankers from Withdrawing from
foreign markets The seemingly heavy
sacrifices which are being made in the New
York Stock market for lack of credit ia
cilities which the foreign exchange mark ct
Indicates a power TO secure, give rise to
the vague fear that something worse than
the New York stock market condition is
feared If demands for gold should be
forced on foreign markets. Cabled reports
were circulated in Wall street today that
the Bank Of France was lending gold to
the Bank OF England, that the English
bank authorities had requested New York
bankers to refrain from bidding for gold
IN the London market, and that Berlin was
lquidating securities in London on a large
scale At the same time money and dis
count rates were easier in London
Money on call here showed further relaxa-
ton and the advance to premium Of New
YORK exchange at Chicago, indicated the
! process OF remittance from that center Ia
| this Foreign exchange was also weak in
money markets The easier tendency
| extended to the time money market
| here, rates for which were uuotably
| lower. The operations with the sub
the banks. The further liquidation in tn,
STOCK market Is relief TO the money
] market also. Another factor in the day',
| uneasiness came from the tone of the init
nations given out by prominent capital
lists in their accessibility to newspaper re-
porters, These limitations. though con
! Veyed IN vague form were interpreted a.
/ evidence or rancor amongst different group
OF capitalists Insinuations that the stool
| market had been raided as a measure o
eP olrial Dy one group Of capitalists having
a grievance against another found a plac
| IN some or the quoted utterances publishe,
IN wall street news chanrela The unsettla
market continued throughout and the clos
Ils was irregular, although at substantial
recoVeries from the lowest levels
Bonds were weak. Total sales. mar value
changed on call. VII
me Following was the range of pricea nj
INC new York Stock exchanPe,