Omaha daily bee., 1907-05-03
new YORE STOCKS ANDBOSDS
Market Again Responds 70 an Advance in
Unisn Pacific Shares
STRENGTH OF THIS ISSUE UNEXPLAINED
RumOr Circulated that Treasury
Assets Are 90 he Distributed
and that Holding Company
is TO he Formed.

NEW YORK, May a-Tne stock market
again today showed itself responsive to the
course OF Union Pacific and not much 10
any other development. The tone was
heavy during the early part OF the day in
continuation Of the depression under
which the dealings ended yesterday. Union
Pacific shared TO some extent in the de-
cline. The better tone which ensued when
the Hartman stocks turned upward was
not widespread and was not decided out
side Of that immediate group.
The strength OF Union Pacific was as
much without explanation in any special
development as IL has been from the frst
and continued in consequence the subject
OF a great variety OF rumOrs, for which no
authoritative confirmation could be held.
The squirt In the preferred stock preceded
the recovery in the common and served to
revive the rumors Of a distribution Of
shares in company which would hold
Union Pacific stocks In other companies.
The preferred stock has not hitherto moved
in company with the common, although the
report OF an intended holding company
has been current ever since Union Pacific
became active and strong. Ii was only
recently pointed out that preferred stock
mon stock rights to any distribution Of
Union Pacific treasury assets. The jump
IN the preferred stock today might be as
cribed either TO belated recognition Of
the value OF expected rights or a percep-
ton Of market operators OF a rise in the
common not shared in by the preferred.
The lack OF authentic Information 20 &C
count for the Union Pacific movement
makes IL somewhat unconvincing as a re-
ueNNlOn OF general market COnulLlOnS. IL Is
expected that the statement Of net earnings
Of the two Hartman companies, which will
be published probably tomorrow, will make
favorable showing. The sympathetic in
huence Of the action Of the Hartman
stocks was most distinct In other trans
continental stocks and others that have
been Joined in previous movements The
copper industrtals showed some increased
strength due to the strength Of the metal
The unfavorable effect OF the proposed
issue Of $4,000, 600 OF Atchison convertible
bonds bearing per cent interest seemed
old convertible IS Of the company recov
cred a part OF yesterdays decline and the
general bonds market was not affected as
much as had been feared by bond dealers
as a consequence OF the terms offered by
the company to secure new capital Some
benefit accrued to the late stock market
from the failure Of the wheat market to
hold It's extreme rise. There was an in
creased disposition also to ascribe a part
OF the keen demand for wheat to the poor
prospects OF foreign harvests as well as
our own. The money markets underwent
no marked change in conditions Weekly
reports Of the great foreign banks ali
came 10 hand today. All showed some spe-
ciaI strain on resources attributed 20 the
May Isl settlements The fact that money
through IN spite Of the extra requirements
helped to confirm the growing confidence
IN the real and substantial nature OF the
relaxation in the worlds money markets
Union Pacific was pushed to above $50, but
the even figure was evidently the IN
Jective point OF the days movement and
the stock closed there, holding the general
market firm.
Bonds were irregular; total sales mar
value 8, $4,000 United States bonds were
unchanged on call.
Number OF gsales and closing ouotations
on stocks Wefa.