Omaha daily bee., 1908-06-10
NEW YORK. STOCES AND BONDS
Market is stagnant Because Traders
Are Waiting
CONVENTIONS CAUSE HESITATION
Frssable Eject 90 Cut IN steel
Prices aas Issue 81 Unfoa Paefae
Bands 0ther Deterrent
FRcrars-

NEW YORK Tune a-There . not much
qetau % record OF today's stock marksr-
~ ne later trading IL Eel INTO visible
sle4nauon Operators seemed TO ind
nothing IN the days prompt suecuIatfve
1aSn and ne dtscontinuance q trading
market ~ N'
The convention period Of the great pon-
LlAl parIes - a deterrent influence an
activity wing 70 uruverbfaI rapressfve
OF mat season on business as well
5T,s-l 1pscuLeLinn- The movement in
pLuEress among steel men 10 consider the
PI9poaed cut N prices weighed on the mar
- on account OF the uncertainty over the
fi,,s,.. 1t ne proposed cut and its in
Zen opinion is nut agreed as to the i'm
- sIIecI OF a price cut. as between
-ns Possinhity OF prompt revival OF dp-
mand and additional hesitation 4-norv
9useEs on The prospect that still further
-oncssslons might be allowed An inn
uh vas abroad that some Of the in
lerests m the steel trade feel discnuraEed
lie OUTLOOK The market position or
- Sldted states Steel stock also came
loE discussion. While those stocks have
Dol been conspicuous IN the strength ~
- cent market their restsrance 70 ali
,cttoa or depression Is marked This
mas tostered a superstition that
marked stability for the stoess has bse1
aoueht a. a financial policy with a pur-
PoHt n view similar % that in mafuTafn-
mE prices Of the curpurarsous nr151rrr
unaL -. TO conserve business edDffdpura
III avoid the unaettling influence OF wide
AAAAAAaAaAAA HHm Enn
a9ahuonment OF the maintenance ~ prices
- ps1duct there arose conjecture over
aeW Iar the supposed stock market policy
q ne supporters OF those stocks might
oe modified. Tomorruw's public Offering
or me new Union Pacific bonds is a1ofbe-
s1In ma vas awaited. The fixing OF the
premium for the bonds. when isE1Ied both
N view York and Lond made for c1n-
udenea m the success OF that issra. what
mnT be the course OF the nrice 6f r7ion
FaclHc after the suharrfutious IN tba
oonuH are closed. was a subject Of greater
hl % me professional market On.
eraour than the fate OF The bond igsae n
self An application 70 the New York
puuuc service corporation for permission
% issue &o.e00f9 new bonds BY the Della
ware 4 Hudson railroad was a fresh re.
mlnuef OF the capital needs OF railroad
corporations.
The reopeninE OF foreign markets altar
ne three days holiday suspension was
cnlefly remarkable for the continued de-
clne IN interest rates. which was de-
veloped. Demands on london for roid
ooth rom Paris and from south America
Tssnsued IN a rise in the price OF gold in
Lohuon. nut discounts continued 70 decline
n common with the movement in con.
gnenta4 centera. The heavy current r.
9enptlon OF national bank notes at the
NeN YORK subrreasury Is a phase OF the
uninterrupted nfUw OF currency from IN.
terror points. which keeps money s1unls=-i
auperabundant in New York. The rasa III
money. therefore. seems 70 be not at al
ar1ected BY the extension OF the gold out
Low, by an accumulation BY the New
forK trust companies IN Preparations Tor
an added reserve requirement on July L
under the law and the belief that an earfv
call for return Of government deposits by
The banks in general The Wheeling aud
Lake Erie receivershfp was 50 clearly IN.
evitabie that no effect was produced b.
Is announcement Reports OF further
damage 20 crops were not disregarded
entirely.
Bonds were Irregular. Total sales. par
value. SzI99 United States bonds un.
changed on call.
Number OF sales and quotauons on stock,
I Hnrn n NnIlnHn-