Omaha daily bee., 1907-05-01
new YORR STOCKS ANDBONDS
Business Urusuhlly Active During First
Hour Of the esion.
WEDNESDAYS MOVEMENT BROADESs OUT
Traders Take Advantage Of Rise 60
sell Union Paciho Bought Mon
day and Prices Fiatten
Ont.

NEW YORK April 3O-More business
was done during the first hour OF today
session OF the stock market than in the
same time for many days past Some OF
the features Of the movement had com
menced to arouse distrust by that time
and there was a relapse into dullncss ana
uncertain fluctuations Many stocks were
active during the first hour that have been
unresponsive to the recent attempts TO re-
vtve speculative interest and the whole
market took on an appearance Of breadth
and volume that has been ConspicuOusly
lacking in recent operations. This served
as an answer to criticisms OF yesterday
DEALINGS tat they were practically con-
fined N Union Pacific. But the fact be
came evident in short time that this d.
version Of speculative activity was being
taken advantage Of TO market holdings OF
Union Pacific itself. Il was this that
checked the upward movement and induced
the subaequet reaction, thus serving 70 re
affirm the dominance OF Union Pacific in
the present market.
The heavy tone Of United States Steel
was a drag on the market also. There was
no expectation Of an Increase in the div
idend at the meeting to be held later in
the day, but all interest centered on the
showing of untitled orders on hand on
March 81. That these should exceed the
record figures reported on December 81 was
scarcely hoped, owing to the seasonable
drawbacks of the spring quarter in the
trade. But Spectators feared that the
showing OF decrease, however explained,
ment that trade reaction was indicated.
The London market was dull on the eve
OF lOmOfFOWS May Oay holiday ana con-
tributed nothing to the activity of this
market. Stocks were but little responsive
to the good showing Of the weather bu-
reau's weekly bulletin on the crops and 70
the moderate damage indicated by the
Kansas state agricultural report for April.
A plentiful rain for present needs in the
upper Mississippi and lower Missouri val
leys was the report by the government
bureau. Coupled with news Of additional
rains since and promise Of more and the
decided heaviness in the wheat market
Itself, the factors in the CrOp outlook were
generally towards reinsurance. The leader
ship of western railroad stocks in such
strength as the market showed was a re-
uectlOn OF the crop news. An incident OF
| the day was the sale of a Stock exchange
seat at an advance over the price at the
| preceding sale. A sustained demand for
| the seats in periods OF dullness in stocks
| Is looked upon as a sign Of confidence in
| early future revival Of business. Much at
! tention was paid however, to reports ir
| circulation Of the intended dissolution OF
/ certain stock market connections as an evi.
dence Of decline in speculative interests
/ In quarters most absorbed in that pursuit
] whether prompted by unpleasant expert.
ences OF the recent past or by judgment
! OF future probabilities, the effect OF the eX.
ample was not stimulating to the market
Inc rates for money for short periods con,
unued to relax, but money brokers re.
/ ported some stiffening Of rates for Longer
J periods. Some effect on future railroad
earnings is looked for from advances ir
I freight rates which went into effect in va
/ rtous quarters today.
Bonds were irregular. Total sales pal
/ Value, 81 $4,000 United States IS declined
| y per cent on call.
Number Of sales and closing quotation