Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-01-10
NEW YORK. STOCKSANDBO
Early Pressure to Sell is Followed BY Some
inclination to Buy.
MARKET IS MARROW AND STAeNANT
Southern Railway and Hill Issues
Are Decidedly weaker-UniOn
Paciac Effectively Sup
ported.

NEW YORK, Jan. 9.-The pressure to sell
stocks, which appeared urgent ana pre-
cipltate yesterday. was decidedly mod
crate today and after a snort time gave
place to some inclination to buy, Inc de-
mand seemed to come largely from uncoV-
cred shorts who had followed the rapid de-
cline Yesterday. There was also some APP
pearance of supporting orders; these dlmln-
ished to almost nothing on the advance In
prices. The large shrinkage in the DAY s
total of sales is evidence of the narrow
proportions of the market The tradlns
sank into stagnation at times during the
The most conspicuous continuance Of the
liquidating tendency today was IN InS
Southern Railway stocks and In the Hll
railroad stocks. IL was assumed yesterday
that the sales OF Southern Railway were
due to the progress Of the settlement OF
the estate of the late president OF the
company, but today there were rumors In
circulation that the maintenance OF the div
idend on the preferred stock was in doubt.
These rumors, however, met with disclalm-
ers from unofficial sources Northern Pa
ci1c sold with the rights DEDUCTED and the
rights also were dealt in on the Stock eX-
change Compared withi Yesterdays price
of 1851 for the stock with rights, the price
today went as low as 159 and the rights as
was under pressure. A supposition that an
inquiry into the relations of the members
of this group similar to that now making
into the Hartman group would follow the
completion Of the latter was given some re-
sponsibiity for the weakness, but the SELL
ing of Northern Pacific was like that which
ton rights to new st. Paul stock and In
less degree rights on other stocks of late.
The effective support OF Union Pacific,
Reading and Amalgamated Copper had a
material effect on speculative sentiment.
The position in which the Hartman com
panies are placed by the Interstate Com
merce commissions inquiry was factor
in restraining any renewal of large specu-
lative ventures. The successive indie
pendent developments regarding the I'm
ances of these companies are supplemented
by effective comment and rumOrs of prob
able effects Todays interest in the sub
ject was largest In the departure or reports
of the intended departure for foreign coun-
| tries of some of the capitalists whose testi-
mony had been expected to be taken by the
commission.
higher than yesterday, but the rate eased
after the opening and did not touch yester-
days maximum. Rates for time money
| were rather easier in tone, although not
quotably changed The inclination of lend.
| ers to take funds out of call loans and
place them on time continues. The shifting
| OF loans is attributed in part to the neces.
| sity of banks to restore their reserves &c
the IS per cent level before they are free
| to disburse dividends, for which the usua
| period is now at hand. London discounts
| hardened today and discouraged a hops
| that the Bank Of England's discount rat,
would be lowered at the week. ymeetinl
| Of the governors tomorrow The Imperia
| Bank of Germany made a very strong re
| turn in gain of cash, I'm repayment of loan
and in reduction Of the volume of it's emer
gency circulation. the market closeeC
| sympathy with the acute weakness of tn,
| Hill stocks.
Bonds were decidedly firm and there wa
| a faint appearance of January investmen
demand; total sales. par value, 81 33S, 600
United States rs coupon advanced u pc
cent on call
The following are the quotations on IN,