Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-01-30
NEW YORK STOCKS ANDBOSDS
Buying BY Bears Larrsly Offsets the
Pressure to LiquidAte.
MUCH TALK or PROSPECT or REACTION
Rally In Market f. Followed by
Depression Due 20 Drives
Against PennsyIvanIa
and Erie,

NEW YORK. Jan. 29,-There were signs
OF reliet at the outset Of the market to-
day from the pressure to liquidate forti-
ned by aggressive bear pressure, which
nave been in evidence for several days
past. The extent to which weak specula-
tive accounts have been reduced by trans
fer into stronger hands and the over en-
tension OF the bear account which always
develops sooner or later in the course OF
g DECLINE; were given the principal credit
Early manifestations Of resistance to de-
preston were regarded with suspicion,
owing to the frequency with which SINH
weakness in the latter trading, but the
manner of conducting the operations in
Efforts of the bears to secure stocks with
out unduly lifting prices. At the outset
the only demand which was actice devel-
oped on the occasional declines giving way
to extreme dullness whenever any advance
had been effected. Later the volume of
selling on the advances diminished and
there was more disposition to follow up
the advance with buying orders.
There was no marked change in the con-
ditions surrounding the market. Specua-
tive sentiment continued depressed and
the staple of discussion in the neighborhood
OF the Stock exchange was the prospect
OF coming reaction and industrial depres-
sion. One indication OF the activity of
the bears was the exaggerated tone given
to some of this discussion. Incidents of a
dinner at Washington, at which the pnesi-
cent ana number of men conspicuous in
the financial world were present, received
much attention, and the accounts published
Of the occurrences on that occasion were
interpreted as notice served on the forces
OF capital of the coercive measures they
were TO expect from the federal adminstTa-
tion. The embarrassments to which the
railroads will be subjected in providing
means to meet the great rush of traffic
or to make needed Improvements doomed
large in the current discussion. The ar
rest of the downward tendency of the
money market was regarded dlsappoint-
ing and the provision to be met for the
call OF the return to the treasury OF IS, 900 600
or government deposits on February 1 was
reared as an unsettling influence on the
market. On the other hand, the reports
were received with satisfaction, recent
rumors OF financial trouble in that connec-
ton growing out OF the position in Ameri-
cans failing of confirmation. The rate for
count also receded sharply from those
prevailing at the last settlement, giving
promise OF cessation Of pressure on the
market from that source. Renewal OF
rumors of money troubles here were con-
spicuous during the time of the early pres
sure on the market, but with the rally
In prices the rumors faded. The tone OF
the Japanese statement on the California
school incident caused a shade of dis
quietude. Reports Of the Intended offer
to the public. at an early date of an
issue Of American Telephone and Telegraph
convertible bonds was received with In
terest as the first attempt for some time
to elicit public participation tn a bond issue.
The rally In the market was unsettled late
In the day by fierce drives against Pennsyl-
vania and Erie. but the general level OF
prices was not forced back to the pre-
regular.
value s2os2,OOO. United States bonds were
unchanged on call
The following was the range of prices on
the New York Stock exchange: