Omaha daily bee., 1907-03-06
new YORK STOCKS ANDBONDS
telling Pressure Continues and Market
Leaders Lose Several Points
ATcHIsON LEADS IN THE DECLINE
Rumor That Increase in Dividend
Has Been Abandoned Brings
Out stock in Thousand
share Lots.

NEW YORK, March sit looked for a
time today as though stocks had made a
stand against the violent selling pressure
which has forced prices downwards for
some time past. But the early rally proved
only breathing spell and the selling
movement late In the day was in rather
large volume and more precipitate In its
character than that of yesterday. with a
panicky break at the last.
The fall In prices was notable for an alb
sence of news to account for It, The vio-
lence of the fall, however, gave rise to
plenty Of rumors of money difficulties to
which the urgency OF the loading OF stocks
OF any embarrassments reached the public,
however. The enormous and unexplained
selling OF Atchison was the active iRfiu-
ence In turning prices downwards 1t was
asserted that long standing confidence
that an increase in Atchison dividend was
TO be made had been abandoned by a
speculative party very heavily involved
stocks came out in blocks of thousands of
shares and the prices declined rapidly In
spite OF the execution of some very large
buying orders, which had the appearance
OF being made for support. The rest Of
the market ignored the Atchison selling
Tor time and held its rally well. The
complexion of the market changed when
the Hartman stocks began to come out
freely again, especially Southern Pacific.
Rumors were current that a determination
mad been reached to reduce the dividend
on that stock. Rumors of this kind were
actively circulated throughout the day
out we're entirely without official sanction
OF possible confirmation. The most effec-
tive influence in the early rally in the
market was the large demand for the Hill
STOCKS at advancing quotations Very cir
cumstantial but unverifed reports were
current that arrangements had been per-
fected by private agreement for taking over
some OF the large holdings of these stocks
winch were overhanging the market. The
hartman holdings Of the Hill stocks, IL
was alleged, were included in some such
arrangements A statement with an APP
NnTag ara~ as
during the day denying yesterdays rumors
that the Hartman holdings were being
nquidated to provide resources TO meet a
note railing due at an early day for the
purchase of Baltimore q Ohio stock for
the Union Pacific treasury. -
:, mere was an apparent accumulation of
neaulhg going on also, which was effective
IN FORMING speculative sentiment for the
moment. The consequence was that the
opening fan In prices represented the low
est leVei or the early part of the day
Inc selling at the opening was large as
natural consequence of the violent de-
eIines OF yesterday and the reduction OF
speculative accounts which was thus neces-
Stated. London also was a considerable
seller or stocks here. The resistance to
these elements of weakness was all the
more Impressive and sentiment had be-
come decidedly treasured by midday when
the violent liquidation in Atchson upset
prices again.
Money was slightly easier both on call
ana on time, but this was attributed largely
70 the erect or the stock market liouida-
nol' ChlcdBo reported the largest ship
meht OF currency to the interior during
FEBRUARY on record and the impression was
general that closer money conditions were
IN prospect. The conviction that with this
PIosPect the only effective relief was to be
had by stock market liquidation and re-
tease or funds to meet the universal dispo-
sltl9n TO get out of stocks. The democrat
ized tone at the closing left much anxiety
Tor the future course of the market. The
special weakness Of stocks which have been
heIu in the Union Pacific gave an i'm
preston that that company's holdings were
pelng liquidated; Atchison fell an extreme
q points Brooklyn Rapid Transit 6H
oUuthern Pacific and Louisville q Nash
VIE and the general list up to over q
points The Hill stocks were the only ones
s n ene hst TO save anything OF the early
gains. -.," - - HNtt 2-sg -"- .l~st o.
bonds We're irregular Total sales.lnar
value $2,ll2OO0.- United States As registered
call. P' PCT cent on
~ ne Iollowing was the range of prices on
the New York Stock exchange:
81