Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-02-07
NEW YORK STOCKS ANDBONDS
Market is Sluggish and without Dsfuit
Initiative in Either Direction.
WEAK SPOTS KEEP VALUES UNSETTLED
sharp Drop I'm Missouri Pacific
Causes Reaction and Final
Prices Are the
Lowest.

NEW YORK, Feb. 6-There was only a
moderate extension today OF the rally In
stocks which occurred yesterday and the
and sluggish. Dealings shrank to little
more than nominal proportions and the
market seemed to be without any definite
Initiative In either direction. The action of
the market Is proving puzzling TO praoticed
observers, owing to its variation from
lapsed into a state OF practical paralysis
after the small gains of the early part of
the day. In spite Of this lack of sustaining
existence of an organised bear party in the
speculation on the alert TO take advantage OF
favorable opportunities to facilitate new
fall of prices, the bears held warily aloof
and made no aggressive demonstration
against values. There was little In the
days news to throw light on the movement
OF prices. Pennsylvania was prominent In
the recovery, on account Of better feel
ing over the labor outlook In the matter OF
the dispute with the trainmen. Some iniu-
announcement OF a further postponement
of the meeting of the committee which Is
to report on the Investigation into the con-
ditions of undue influence upon some OF the
employees of the company In favor OF IN
dividual shippers which was brought out
by a hearing of the Interstate Commerce
There is a growing discussion in the finan-
cial district Of the likelihood of an advance
in freight rates this spring and the agree
ment in the expressed views on the subject
of railroad authorities from widely diver
gent bOuECes IL COnSlOeTeQ lnSAt
has, been heretofore rather common
agreement that advances in freight rates
were not to be thought of in view of the
current agitation against railroad corpora
tions. The existence of this spirit has been
considered to be a barrier against the
equalizing by the railroads OF the growth
in their operating expenses. The disfavor
with which recent capital increases have
beer held Is attributed TO the restriction
upon the railroads to regulate their In
comes. The resumption of the reports OF
transaction in odd lots" on the tape re-
vealed a shrlnkage of orders for stocks In
small parcels, which is supposed to indi-
cate the presence of investment orders in
the market. But this buying was not OF
material effect In holding prices. The exist
ence of weak spots in the market was re-
vealed from time to time and this helped
to keep sentiment unsettled. There was
further selling of Great Northern preferred
from the same source as yesterday and this
Is supposed to be the closing out OF a
speculative account or accounts In the
stock which were crippled by the long
decline in the stock since the announce
ment of various rights to stockholders.
Acute weakness also developed In Missouri
| Pacific, owing to rumors in circulation OF
coming appeal for increase In capital
This decided a reaction in prices and the
| last prices of the day were generally
| slightly lower than last night
Bonds were steady Total sales, PAL
| value, S,75400O. United States bonds were
| unchanged on GALL
The following was the range OF prices or
the New York Stock exchange;