Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-03-02
new YORK. STOCKS ANDBONDS
Inconsistency Of Market Still Further I'm
pha1Ssd by It's BrratiO Movements
SHARP DECLINE IN THE Hill ISSUES
Readins, Harrimans and Pennsyl-
vania Also Down-RalIy Comes
Late in Session and Close
r. Irregular.

NEW YORK, March 1.-The Inconsistency
OF the stock market was emphasized by
its erratc movements today. Hitherto this
week the abrupt reversals have come on
succeeding days. Today the range was re-
traced before the expiration Of the ses-
sion Several declines were shown at one
time during the day and these were prac-
tically all wiped out by subsequent rally.
Transactions were on a considerable scale,
but was largely oongested in a few active
The constant fluctuations Of prices pointed
to a professional origin for the greater
part of the transactions The extent of
the fluctuations, however, as well as the
absence Of authentic Information TO ex-
plain them keep alive suspicious OF man
ipulatiye tactics In the market TO
atoms in progress. Some OF the special
weakness today was attributed to the after
math of the Hartman inquiry and to sug-
gestions OF new directions which future
prosecution of the inquiry might take The
sharp declines In the Hill stocks were
connected with these suppOsitions. Read
ing continued center Of attack and rli-
mors persisted of Forthcoming large note
issue by that company
| A bad effect was produced also by the re-
/ ports OF a vote I'm progress amongst some
classes OF Pennsylvania railway employees
| on proposed strike, although officials of
the company profess confidence that the
| offered report Of earnings for January
| In which decline in gross earnings COM
bined with an increase in operating OK
1
/ ings compared with last year. The same
/ tendency was observable in some other less
J important railroads reporting. Conferences
| were reported in progress at the same
time amongst railroad officials looking 70
advances In freight rates on coal and iron
I One OF the board room reviews on the early
| weakness Of the market was that II was
! the expression Of disapproval by large
| financial interests of any attempt to dis
| count In the market the final adoption OF
the Aldrich bill. Large influence on the
| upward turn In the market was attributed
however. TO the report from Washington
that this bill would be taken up in thu
house during the afternoon instead of be
ing put ovSr to the Saturday session. The
upward turn came in the face of the an.
| nouncement of new note Issues, for which
so much dread had been professed, thu
Louisville and Nashville and the Atlantic
Coast line being the companies concerned
Money rates were firm here on call ant
on time. The London and Paris money
markets however, showed prompt respons'
to the, relaxing influence of the turn o.
the month and foreign exchange here wa
easier. The coming japanese loan refund
Ing, although IL will be participated in b.
New York bankers, will, II is said, serv,
rather to move funds to New York thar
to make any inroads on banking supplies
The late rally In stocks was only slightly
impaired and the closing tone was slight!
Irregular.
Bonds were heavy. Total sales, pa
value, N,4SS,000. United States bonds wer
unchanged on call.
The following was the range OF prices OF
| the New York Stock exchange.