Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-04-16
new YORK STOCKS ANDBONDS
Market Largely in Hands Of Professionals
and Prices are Irregular
OPENING BREAK FOLLOWED BY RECOVERY
Drop of standard OF on Curb and
UnfavOrnbIe Crop Reports Cause
ReactiOn-Bonds Are
Heavy.

NEW YORK, April 15.-Today's irregular
fluctuations in prices did not alter the
general conviction that the current stock
market Is largely in the hands Of profess
sional operators, with the factors Of doubt
and uncertainty over the future OF sur
hcient force to keep out any large particle
OF heaviness In the tone OF speculative SEN
timent. The bear element amongst the
professionals, evidently flushed with their
success towards the latter part OF last
week, made more vtgol Gus Onslaughts upon
the opening market today The supse-
considerable extension Of operations on the
short side without dislodging any important
new liquidation. There was material
recovery from the first break, but It was
not until the needs OF the uncovered bears
had been substantially met that the dull
The recovery became most pronounced
after the announcement on the exchange
OF the failure Of board member. 1t was
assumed that the announcement represented
the disclosure OF the mysterious some-
thing which bear operators have insisted
was hanging over the market to cause last
garded as important in Itself and the bears
we're not inclined to remain uncovered on
the short side with this factor as an eN-
PLANTATION of whatever weakness the market
has shown, but with the passing Of the
influence OF the failure there was recur,
rent consideration OF some OF the doubtful
factors which were In evidence last week
The record weekly expansion OF bank
loans shown by the bank statement came
in for its share of discussion and was com
pared with the extended condition of cred
Its for the country at large shown by the
reports to the controller Of the currency
Besides subscriptions to new stock issues
and repayment Of loans to interior lenders,
IL was believed that large payments to for
eign lenders had been in progress and the
upward course Of foreign exchange last
week bore out that suppositiOn. Today
foreign exchange reacted sharply, although
call money continued easy. London looks
for a further reduction in the Bank of
England discount rate. The discount rate
sterling exchange rate in Paris has fallen
confines since Friday, indicating strong
current of remittances from London to
Paris. In the time money market here
there is a stiffening of rates for the longer
maturities, although the market is soft
heard from some banking quarters that
the present discrepancy In the money mar
ket, Of great ease for call loans and sus-
tained frmness for other forms OF loans,
Is due to some desire on the part of lenders
to keep abundant funds in hand and i'm
mediately available In order to be prepared
for possible contingencies.
The reports Of deterioration I'm conditions
OF the wheat crop and of spread Of the
raVages OF green bug made their reappear-
ance In the stock market during the day
and contributed to the later reaction. A
sudden relapse in the price OF Standard
on stock In the curb market was a sentl-
preston on the stocks. The downward
drlit carried prices down as low as the pre-
ceulnB break, but there was some recovery
again before the irregular closing
Bonds were heavy. Total sales. par value
$4,000 United States bonds were I'M.
changed on call
Number Of sales and closing quotations