Omaha daily bee., 1907-05-04
NEW YORK STOCKS ANDBOyDS
Karkst is Still Largely Dominated By
kovsmsnu Of Uaisn Paoifn
TONE IS IRREGULAR AND UNCERTAIN
UniOn Pacihc shows Gain Of Gross
Earnings for march of si,OOO,OOO,
with Increase in Net Earn
tngs of $4,000.

NEW YORK. May G-Tbe exact condition
Of the suocA marKet TO-DAY was dominated
iHrgeiy sLh o. the ovements OF l. Mon
Facllc. lnese movements were very ir-
rec alar ana uncertain anu the whole list
cou4Ormeu 70 tnls WIth uucn eNaCutude.
lhere were some factors which played a
STOCKS, OIL Jley were not euectiye.y opera
tive except Wlen they tened to connrm the
course o. the dominant STOCK
Ihe movement In Union FuCinc showed
some sFiQenLe OF ruuniug Oul ana tins
served 70 discourage activity elsewhere and
sreaLy curua-led operations after the nrst
noun business. 4nere vas large realizing
IN MON PaCInc above l5s the Individual
transactions showing large ulOCEs changing
hands On the otner hand fa4l below
Agu Drought out support Tor the STOCK. Inc
consequence was q restriction In the move
ment ana a constant vibration within these
limits lhe publcation OF the net earnings
OF the hartman PaclfiCs Tor Marcn dis
posed Of the suppOsition that the recent rise
IN tnece stocks vas Que 70 unusually favor
abe conditions In the operation Of the
company. southern Pacifcs net earnings
declined over S5JJ ~, compared with Marcn
OF last year, although the February state
ment showed a handsome proportion Of
the gross increase saved for the net. The
Union Pacinc saved only tl50, 90 increase Of
March net earnings out Of a gross gain Of
over %l.00oVN Mon Pacific rallied 70
within shade OF the early high level after
the publication OF the earnings. The poor
earning results Of the railroads was EN-
ph4siAed ~ several other reports, espe-
cially the New York Central. which showed
an expansion Of expenses for the frst quar-
ter OF the year Of y, i55 100. or upwards Of
1870 The quarterly dividend meanwhile
has been raised from II. to II per cent
The nnal result after the payment OF the
dividend shows deficit for the quarter OF
s. 45y.s6l. The stock was weak on this show
ing. No official explanation was offered Of
the poor results, but the extraordinary eX-
panslon IN the expenses caused the sup
position that Improvement work was being
chsrged 10 the expense account. Southern
railway March statement showed fall
ing on Of s. per cent In net earnings IN
spite OF moderate growth in the Gross
earnings. Inc eueCt OF these reports
seemed 70 be rather TO discourage active
operations than 10 cause any positive weak
ness. There was some buying Of Pennsyl-
Nania following the deduction of the 81
per cent semi-annual dividend from the
price on the traders idea that this caused
the STOCK TO LOOK cheap The special move
ment In Brooklyn Transit was the result
OF assumptions Of a new political align
ment on corporation policies growing out
Of the contest at Albany.
Money markets showed little change in
rates, but the tone was firm. The pro-
vision for redemption OF the Chicago Ter
mtnal and Transfer bonds by the Balti-
more & Ohio had some effect Estimates
OF the weeks currency movement indi-
Gated tide IN favor Of the interior, partly
onset by a gain on subtreasury operations,
the change in cash holdings being
New York exchange at Chicago TO a pre-
MUM Indicates relaxation OF the interior
demand Crop reports were not Of much
immediate effect in the stock market the
teracdng the effect Of forecasts Of a cold
wave tonight
Bonds were firm. Total sales. par value
a.5sSmo United States bonds were un-
Number Of sales and closing quotations
on stocks were: