Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-02-09
NEW YORK STOCKS ANDBONDS
Market Active During First Hour, with
Prices Above Thursdays Close
TRADING LAPsEs INTO EXTREME DIZZINESS
Dropping Tendency Continues Rest Of
Session and Close IL Easy, with B.
Early Gains wiped
Out.

NEW YORK. Feb. s.-The stock market
had an active hour after the opening to-
the level of yesterdays recovery. APP
parently distribution was going on at that
level and the market lapsed into Aktreme
dizziness and hesitating fluctuations there
after. The effect was to revive doubts
over the speculative outlook. Most of the
material of the days speculation was
emanated from Washington. There were
large buying orders at the same time ex-
ecuted by houses with important wash
The effect was to produce an impression
that important developments were to be
forthcoming there bearing on financial
and stock market conditions. There were
plenty OF rumors to supply details with
great defniteness. but authoritative in
formation was lacking. Confidence is felt
in the financial district that moderate
measures OF currency reform have been
undertaken at Washington under auspices
that give good promise of success. 1t Is
blieved that provision Is to be made for
the routine deposit of surplus revenue
of the government, including currency
received in national banks and the limit
of the monthly retirement OF national
bank circulation expanded to $4,000, goo
or s15,000.O0 instead OF t3,000,000 as at
present. The removal of this Limitation
is expected to lead to freer not issues
by the banks where they are restrained
now from the diffculty of retiring the
notes when they come back from the cir
culation- The impression has got abroad
in the financial district that assurance
has been received in some way OF like
lihood that the Interstate Commerce COM
mission would not be opposed to an ad-
vance In freight rates IL this process
were eQualized. There was still more
specific rumOr about the Stock exchange
on an intended alteration in the govern .
ment process against the Standard OH
company which Is regarded as a sort OF
typical and test case OF the attitude 10
be taken towards the great corporations
in general.
movement was probably the outgrowth of
the rather unsubstantiai material on
which II is thus seen II was based. The
market felt the effect also of the reduc-
covering of shorts in yesterdays market
A hardening of the call money rate late
in the day also weighed somewhat on
the market. This was supposed to be dus
principally to the making of provision
for paying the subscriptions TO last
weeks New York City bond issue OF SSO-
900. 900. The preliminary estimates OF
| the weeks currency movement also mol
] Gated a weakened banking position the
1 movement on balance to this center from
| the interior apparently continues, but en-
so small a scale to offset only slightly
! the losses of the banks In subtreasury
4 operations. which amounted to A2sl.OOO.
| Reports were current also of further note
| issues by RAILROADS. either placed or in
contemplation. The rate OF interest
which these notes are made to bear at
/ the price they bring indicates that the
! market is stiil unacceptable to capital Is
| which corporations could AFFORD to accept.
| The dropping tendency. OF the market
/ more than wiped out the early gains ana
held to the closing which was easy
Bonds were irregular. Total sales, par
1 value. 81 $4,000. United States oonds
were unchanged.
] The following was the range OF prices on
the New York Stock exchanges;
I 0ANA NN-A