Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-01-22
new YORK STOCKS AND BONDS
Market Opens BuOysnt on Buying by
Uncovered Short interests
RENEWED SELLING SOON DEVELOPS
Prices Yield, but There is Rebound
Near the Close and Final values
Are Highest of the
Day.

NEW YORK. Jan n.-Conditions In the
stock market were much confused TO-DAY
The market did not maintain the buoyant
show OF strength with which 1t opened and
did not even make good resistance to the
renewed selling which developed during the
day. The inference was prompted that the
upshoot Of prices at the start was due
largely TO the requirements OF uncovered
shorts and n til, the higher prices which d were
tage Of to renew the liquidation, as was the
case last week. There was buoyant re-
bound at the last again.
1t was not a surprise that a considerable
uncovered short Interest should be de-
veloped in the market when the DOWNWARD
course of prices was once arrested and
turn upwards effected. II was hoped also
that the arrest OF the rapid decline OF prices
would fortify the position Of long accounts
the necessity Of recovering the commit
ments as was obviously the case last week.
volume, which was attributed to the large
banking interests and which was accepted
as an intimation Of a determination to sup
port the market. The time occupied since
the market closed on Saturday In a canvass
Of the situation found no warrant for the
rumors of financial difficulties which were
in circulation Saturday, and there was an
understanding about the Stock exchange
that some arrangements bad been per-
accounts which were exchanging last
weeks market. In the loan crowd also the
rates of a number Of stocks which had been
most freely sold last week indicated the
proportions of the short interest In those
stocks. L was not apparent that the de-
ing in unwieldly selling orders TO commits
sion houses, such as are likely to to follow
Sunday interval after considerable de-
cline These various conditions combined
to awaken the uneasiness of the bear party
and prompted them to the active buying
of the first hour. with the completion Of
the buying of this character the action
Of the market became disappointing again
to the hopes of an extended recovery. The
nature Of the selling in the Interborough
Metropolitan stocks had an intimldatng
effect on sentiment. 1t was accompanied
by .rumors that additional capital Is sure
to be forthcoming from this new quarter.
On the ether hand, much attention was at
tracted by a report that plans were shaping
in some of the railroad corporations to
modify their intended OUTLAWS for the com
ing year for extensions and betterments.
The New York Central was directly indi-
Gated by these reports, which were without
official sanction, however. Such a tendency
was accepted as promising some relaxation
OF the strain on capital supplies. But the
bearing on the prospect for continuance
of industrial activity at the present level
was taken large account Of also.
Money continued TO work easier and call
loans were made, for the most part at 5
per cent or below. Interest rates on time
loans also continued to decline. Foreign
markets were affected by the expectation
that the Imperial Bank of Germany would
reduce It's discount rate tomorrow and there
was an easier tone In the foreign exchange
market mere The renewal OF liquidation
during the day served to revive reports
OF the necessitous scaling down Of some
important accounts of long standing and
which It is supposed were helped over the
end OF the year in the hope that the easing
of the money market would offer a better
chance for LIQUIDATION. When this liquda-
ton was over the market rebounded sud
denly and closed buoyant at the top prices
for the day.
Bonds were heavy Total sales, par value,
S,Ss4OO0 United States bonds were un-
changed on call.
Sales and range OF prices on the New
York Stock exchange were:
Cala IIfSh