Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-04-02
new YORK STOCKS ANDBONDS
EsTkst cpsbs Higher, bat Falls on Tear Of
CfFenngs from Abroad Tomorrow.
NET LOSSES FROM Low LEVEL OF FRIDAY
Great Northern Preferred n DRAG
on the Market Because of Call
for Payments on New
Iaaue.

NEW YORK, April 1.-The New York
market operated again 70 day without Lon
don 10 serve as an index of the foreign atti-
tude. There was time today when this
seemed to accuse misgivings over the ex-
tent to which prices were being carried
away from the level when London last
traded in our securities on Thursday last.
The rebound Of Friday was materially ex-
tended by the gains which were added to-
tomorrow iS awaited with interest 70 see
what view Will be taken Of the rapidity OF
the recovery here.
ing here was largely due 70 stock supplied
from foreign sources, as the extent Of the
short interest in that stock reviewed On Frs
Coy last made II in eager demand still.
The demand from the shorts promptly rvas-
serted It's influence on the stock and II re-
bounded violently. The fact that Fridays
rebound in that stock was SUFFICIENT to bring
out large offerings OF foreign holdings sug-
gested possibility OF what might happen
Ia the general list when London resumes
tomorrow and led to the general reaction
after the opening, wiplng out practically all
OF the gains and establishing some striking
losses from the low level Of last Friday.
The movement OF Great Northern preferred
also acted as a damper on the early
strength OF the market The heaviness Of
this stock seemed to be connected with the
official notification by the company that
the original terms OF payment Of subscrip-
tions 70 the new stock would be unchanged
by the delay In the issue caused by the lti-
Cation to enJoin It. This would call for the
payment Of four 10 per cent installments,
amounting TO some 424,OOO,OOO on ApT1i g..
The subscription rights were dealt I'm on the
stock exchange for the first time today and
declined to a lower level than was touched
on the curb when the judicial decision in
favor Of the Company was first announced.
Another factor in the early reaction was
the knowledge that a FORMAL announce
ment was imminent from President Roose-
welt on the subject Of governmental policy
towards the railroads. Rumors hrst
current on the Stock exchange were
that the expected statement was
IN
OF former views and an expressed de-
termination to continue in them. This Ver-
| sion caused a distinct halt in the rise in
/ prices, but the rise was actively renewed
when reports got abroad that emphasis was
1 to be laid by the executive of disapproval
OF any project that would invalidate rail-
road securities.
Decided relief was felt over the improved
money situation and with the first of April
fairly passed 1t was believed that relaxation
would follow in the money market Rates
LOT time loans were marked down de-
\ cisiVely. The sub-treaSury report showing
gain by the banks since Friday OF nearly
$4,000 demonstrated that the effects OF
! the treasury relief makesures were not "a
| to be ccnhned to the bank statement oi
| last woek. Another decisively strengthen
! ing influence on the market was the better
/ prospect reported Of a settlement without
! strike Of the claims OF western railroad
| employees for higher wages and a reduced
| working day. Most Of the days gains were
retained to the last although the CLOSING
tone was rather feverish
+, Bends were firm. Total sales mar valua
?l,SS4,O0O United States Is coupon deciined
| X per cont on call
Number OF sales and quotations on tbs
new York Stock exchange: