Omaha daily bee., 1908-09-24
new YORK STOCKS AND BONDS
Tranquil State Of Market in Sharp
Contrast with Tuesdays Turmoil.
HARRIMANs AND READING ACTIVE
High Opening Brings out Realizing
sales which Cause Relapse,
After which Rally
Ensues.

NEW YORK. Sept. 8.-The Tranquil state
into which the stock market Tell TO-DAY
after the turmoil OF YESTERDAY formed a
so sudden as to appear unnatural, and was
for that reason made the ground for some
suspicion and for reserve IN speculative
commitments. 1t is usual. after so violent
a collapse in prices as has occurred in the
last few days, for the first rebound to be
OF corresponding vigor.
The languor into which the movement
fell today at a moderate stage OF the re-
covery therefore left grounds for distrust.
something OF this moderation was attribut-
able to the extent to which bear operators
covered their support on contracts late
Yesterday, when prices were recovering in
proportion to the enormou buying for
that account. This covering movement by
the bears was continued today. Very large
buying orders we're expected by a few influ-
entail Stock exchange houses. who were
most active in the recent selling. Their
transactions were largest in the two Har-
rtman Pacific stocks and in Reading. These
are the operations which the supposltion
current on the floor OF the Stock exchange
connects with the Standard OIL and Harri-
man interests. Sentiment on the stock
market has been swayed for weeks by the
belief that action was being taken ia the
market for this account. The buying today
created the impression that a further fall
in prices was TO receive the countenanCe
or these powers no longer. The miscellane-
Gus following Of room traders and profess
sional operators followed this leadership
Implicitly, as they believed they penetrated
It's concealed purposes The dull hesitation
oI the market AFTER the first hour gave this
element much anxiety. Almost half the
days business was done IN that hour.
Practically the extreme range OF the days
price fluctuations was established also I'm
that time. The higher opening prices
brought out realizing sales, with a relapse
which wiped out the gains. Prices rose
again before the end of the hour, and this
fixed the limit Of the price movement after
ward. 1t was ~traversed many times. but
without any great animation or urgency.
Dealings were greatly congested in the Har-
riman stocks, Reading and the copper in
The days news was not important and
was little regarded. attention being concen-
trated upon the closing up OF previous
speculative commitments. There was a re-
bound from the recent declining tendency
IN the price of copper warrants In London.
correspondence there has been between the
price movements in copper and in stocks
throughout the summer speculation. While
stocks were rising there was a daily an
nouncement of an advance in copper quota
tons, while the relapse in stocks has been
prices for copper. This has been taken to
confirm opinion Of the responsibility for
the movement Of the group of capitalists
with a large common interest in the copper
industry and in the corporations Of which
me shares have been most active in the
The breaking Of the drouth in the west
was heralded with satisfaction. but the
warning OF a probable cold snap to follow
MADE the corn market sensitive. The day
ended at the Stock exchange with one of
the numerous upward swings Of prices. but
movement than on previous OCCASIONS
Bonds were irregular. Total sales, par
value. S,222, 900. United States bonds were
unchanged on call.
whA