Omaha daily bee., 1908-12-17
NETWORK STOCKS AND BONDS
Prices Rise on Repurchase Of Stocks
Sold Tuesday.
MARKET CONTINUES NARROW
Speculation IL Restricted by Scarcity
of Money and Values Lag al
Intervals-Net Changes
for Day Are Few.

NEW. YORK, Dec. 16-There was CON
siderable repurchase Of stocks To-Day,
largely by those who had sold yesterday
was the consequence. The market, how
ever. continued narrow and professional,
much Of the buying being attributed to
during the previous selling. The upward
movement was encouraged by some Of the
The speculation is stnl restricted by the
diminished resources from the money mar
ket ana the situation in that respect re-
mainea the principal subject of considera-
ton. The position has not reached that
or s~tr1ngency, such as forces out specu-
latlye stockholdings by calling OF loans, but
purposes than speculation to an extent
mat limits the operations to sustain and
advanee prices on the scale that has
proved efftcacious all through the years
rise. The level of interest rates both on
cal! ana on time loans has now reached
misner ngure than at any time since
were held away from the point of profit
on further shipments of gold to Paris and
mere was sufficient 10 check this move
ment. II is believed that any severe rise
IN money rates would bring finance bills
INTO the exchange market In the opera
York money market returned to normal
Tor the first time after the panic and the
remlu on currency first disappeared.
Inc present condition has come to present
sufficient tightness in the money market
20 remove the artificial stimulus to specu-
ldtlOn Wnlcn grew out of the bulky accu-
mutation of Idle funds in bank reserves.
Artificial support of prices, therefore, be-
comes more expensive and more hazardous.
Inc large requirements which confront the
money market for other purposes than
stock market operations make 1t likely
that advancing interest rates will continue
until the end of the year. This Is the main
factor in restricting activity in the stock
market. The local allotment of the Bra
lillian coffee loan was so largely SUBJ
scribed that the lists were closed as soon
as opened. The international exchanges
tion OF borrowing abroad. The official
announcement of the placing of the years
order for steel rails by the Pennsylvania
The long discussion that has gone on be-
tween the parties over the specifications
In the contract. The waiting on this set
tlement has been given as a motive for
through the railroad world, which, 1t is
assumed, will be released now. Special
strength shown today by the electrical
companies was supposed to rave some
connection with this expectation. The ru-
NOR was revived also of the coming re-
tirement Of Reading second preferred stock
by exchange into common and first pre-
ferred stock in equal portions. The pro-
pected increase in the common dividend was
also limited at, but the declaration of only
the regular dividends on the various Van
derbilt railroad stocks seemed to be OF
helpful effect on those stocks, although nc
suggestion Of other action has been heard
for a long time. An unusual feature OF
plete idleness of the trading in the In
tervals between the spurts of active buy
ing. These idle periods allowed prices tc
sag back from neglect, so that the days
Bonds were steady. Total sales, pal
value, $,316, 900. United States 2s, regis.
tered, declined u per cent on call.
Number OF sales ana leading quotation