Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-01-18
NEW YORK STOCKS AND BONDS
Market is Dull and Heavy for Most of the
Session.
WEAKNESS DUE TO FEW LEADERS
Calls for Additional Capital by Rail-
roads Causes Hesitation on Part
of specuIatOrs-CIose L.
Irregular.

NEW YORK, Jan. 1.-THE dull and heavy
tone which prevailed for most OF the day
in the stock market seemed to be due to
the continued weakness in handful OF
stocks. There was nothing like the gen
eral weakness which developed yesterday
at any time during the day. The gensral
was a dip along the whole line when any
special weakness would develop at some
Tesiiency in the intervals Of iiguid ation in
a few stocks. The hesitating and incon-
slant movement OF the market kept senti-
ment much confused. During the course
of the days trading a clearer perception
was acquired OF the limits of the selling
and feeling regarding It's significance be-
The fact became known today that a
syndicate had been dissolved which under
BONDS. of,cis details Of tine tTanssctioH
are lacking but It was generally believed
that the largest part of the Issue had
proved unreliable and had been distributed
to the members of the syndicate, with some
nasty sales as result at wide concession
from the price of the underwriting. The
ment OF the lesson Of other examples and
Its effect is enhanced by the knowledge
that similar conditions exist in the case
OF other syndicates. In order to move the
market for such holdings It seems necessary
to make large concession in prices. A like
course Is indicated as necessary in the
security overhanging the market to secure
new capital to proceed with the great ~ !,
largement OF railroad facilities which raj
essential to cope with the present business
of the country. But the belief gained
ground today that there were special causes
Affecting the stocks which suffered most
acutely in yesterdays decline, having to
do more with the speculative position in
the market than with the financial affairs
OF the companies. Yesterdays sincere in
ferenceS Of an inception of a stock market
struggle between financial interests gave
place today to an alternative belief that
crippled speculation acts Of smaller import
ance were involved. Aside from these spe-
cial incidents in the market Developments
were favorable.
The reduction in the Bank Of England
rate of discount was a decisive mark OF the
relaxed tension of the worlds money mar
kets, The weekly statement Of the Bank
OF England showed clearly that the action
of the governors had become necessary to
conserve the volume Of business, which is
main object of the existence of the bank.
The Bank of France and the Imperial Bank
or Germany also showed the refiux move
ment OF cash into bank reserves. In this
market the rate for time loans for all pc
Rods yielded to below per cent for the
first time since the recent stringency pre-
vailed. The banks continued to gain
heavily from the subtreasury the amount
for the weeks statement rising by todays
gamated Copper for several days past has
indicated the yielding of earlier speculative
hopes or an increase In the dividend rate.
There was, consequently, only a moment
airy dip in the stock when the rate was
announced as unchanged. Constant fluctu-
lar.
Bonds were irregular. Total sales. par
value, H,S24,0O0 United States new Is ad-
vanced y per cent on call.
sales and range of prices on the New