Omaha daily bee., 1908-11-06
NEW YORK STOCGS AND BONDS
Market Feels Effect Of Speculative
Pace Set Wednesday.
VOLUME OF BUSINESS SMALLER
value Are Unsettled and Movement
is ACKNOWLEDGEMENTS 20 Sell
IL Pushed After outside De-
mands Are Satisfied.

NEW YORK, Nov. 5.-The stock market
today gave plain signs of feeling the effect
OF the speculative pace which was set for 1t
today and became unsettled and hesitating
in the course of the days business. The
total of that business fell away consider
ably from the large aggregate OF yesterday
and the decrease eventually marked the
satisfaction of the speculative demand in
duoed by the election results.
Stocks were fed out freely to meet this
demand from the outset. All bids were
filled promptly, according to the definition
Of brokers On the floor. Afterward there
was a disposition to push the sales at con
cessions, The impression thus made OF the
market having arrived at q stage that dis
counts the favorable factors was empha-
sized by Its action in response to the an
nouncement OF the plan for disbursing
s1l26 extra profits on each share Of old
Northern Pacific stock, the new stock on
which the final 121t per cent Of subscrip-
the melon"
Northern Pacific itself had sold as high
as 1904 after the opening, but fell to 1851
before the dividend announcement and did
not rally to above 1894 afterwards. The
supposed intention to declare this dividend
has been a speculative Influence in the
stock market at intervals all through the
present year, and has been so often de-
clared to be imminent, only to be proved
lacking, that distrust OF the truth of the
rumors had grown up in the speculative
element. That element was wary of the
reports of intended action even today. The
constant rumors regarding the dividend
AVE pointed 10 III per cent OF the amount
as the quotation for the existing stock and
the certificates of the new stock were kept
about thai far apart. The uncertainty In
the subject has been assertions Of James
], Hill discreiting the reports of an intended
extra dividend, which leave the impression
that its declaration was opposed by the
most influential element in the control OF
the property. This opposition was ascribed
TO the opinion that so large an extra dis.
bursement at this time would prove i'm
polite on the part of a company contest
Ing for legal reduction pf rafaa 81 COp,nap-
sation and seeking to secure higher rates
for freight transportation.
The company is at some pains to declare,
IN the official statement of the dividend
disbursement that mo part has been de.
rived from the transportation business. u
the derivation Of these profits. Influence
Improvement company, the stock of which
Is owned by the Northern Pacific, owns
%ssbi Hnd timber he 81 lands 77s soo in .l MSntana a,pt
Northern Pacific treasury is valued al
S,775,OO0 In the annual report of the com.
pany. The amount to be withdrawn from
for the $11.2 per share dividend on S15S,.
OOO!OOO OF Northern Pacific stock Is 81, 453, 900
w w h amounts to S2s per cent of the stock
the stock after the news became know
owed something. to an apprehension OF {
eompsnv Nv OF tbi Issi nHfdGDe pursuit OF tn
condition. The depression of foreign stock
markets on account Of renewed %politica
VOHlPllCdIOnS rejected some influence OF
this market. Money rates were slightly
firmer both on call and on time.
The sageing tendency of railroad stock,
was restrained by the show of strength
amongst the industrials, especially tn,
metal group.
United States Steel rose above 81, repre-
senting the highest quotation since tn,
period of the flotation of the company
when the market management was en-
trusted to the most skilfull manipulation o
stocks of his time.
Bonds were firm. Total sales. par value
S~I,SlS,OO0. United States bonds were un
changed on call.
Number Of sales and leading quotation