Omaha daily bee., 1907-03-01
new YORK STOCKS ANDBONDS
Wall Street Market UndargOss an Abrupt
Reversal Of Sentiment
SHARP RECOVERY IN PRICES ENsUEs
Selling I'm Final Hour TO Take PROFITS
IL Well Absorbed and Close
f. strong and
Active.

NEW YORK, Feb. z.-There was as
abrupt a reversal Of sentiment from that OF
yesterday in the stock market To-Day as
day. Today's recoveries placed prices quite
generally or a level with the best prices
touched in the recovery on Tuesday.
Todays recovery was as little accounted
for by any new developments as have been
the other movements OF the week. Several
Items OF news that might have received a
discouraging Interpretation were ignored
An important part would be allowed nat
urally to the covering operations OF the
bears in working a rally after so consid-
cradle a decline as has occurred. There
was besides, an appearance OF support for
the market and OF seGHm Ss,srn LST the
bears in buying to cover their shorts.
Some influence was attributed TO the ad-
I journment OF the Interstate Commerce COM
mission hearing in this city. But opinions
| In the Wall street district of the bad et-
| fects on securities threatened as result
were emphasized by the later phases OF the
investigation. 1t ts therefore believed TO
be imposslbie that the widespread publicity
given TO the hearing shall not awaken some
| distrust and dissatisfaction on the part OF
investors and ordinary holders OF securities
| financial powers revealed with the progress
| of the inquiry Commission houses profess
| a conviction that the public cannot be in
duced to buy stocks while these revelations
are fresh In mind. 1t Is feared also that
| chances OF enlisting foreign capital Issues
Of American securities would be decidedly
1
results of the investigation. Reports were
published of a widespread strike threatened
| amongst railroad employees In the west and
northwest, but this seems TO be ignored.
| Importance was given the highly favorable
| reports from the iron and steel trade and
the great confidence expressed by authori-
ties in that trade of the soundness of the
| conditions existing. The head of the United
States Steel corporation affirmed that new
| orders were in excess of those coming in
| at this time last year, although showing
some recession from the last quarter 8
| average. This sustained condition in that
| trade is calculated to go far in quieting
! the apprehensions OF contraction in gem
! eTal business. owing to the great reliance
placed on the iron trade as an index of
\ business conditions as a whole.
| Money was firmer today, both on call and
| on time. There was supposed TO be some
| calling OF loans going on In preparation
| for the March settlements, which will be
! unusually large. The Bank of England g
weekly return indicated that II is still in
control OF the London money market and
| determined to hold the money rate up as a
protection against foreign demands Dis
counts were easier in Berlin. The Bank of
| France return was weak one, but sterling
exchange at Paris rose. The profit-taking
| In the final hour was well absorbed and the
| market closed strong and active.
Bonds were irregular. Total sales par
| value. H,152000. United States Is coupon
declined a while the 3s registered advanced
| u per cent on call.
The following was the range OF prices on
the New York Stock exchange: