Omaha daily bee., 1908-08-18
NEW YORK. STOCKS AND BONDS
Prices Rise and Fail Alternately
Within Marrow Range.
STRONGER HANDS TAKE CONTROL
Annual Reports of Hartman Lines
Make Good showinE-Market
o sirens aRd Close
Highest Of Day.

NEW YORK. Aug. T.-Trregularity was
the most conspicuous feature. OF today
nately. mostly within narrow range. al
though some OF the more active Issues reg
istered substantial gains at the opening.
The trading bore evidence OF bear pressure
and general professionalism. although close
observers expressed the opinion that stocks
are s%raduslly passing into stronger hands,
the operations OF certain prominent BANKING
and brokerage houses. as well as on the
continued ease Of money. further prospects
Of good crops and advices from the leading
railroad centers, which almost uniformly
report indications OF awakening business;
At the moment, however. \ cannot be said
that traffic Is more than holding its own,
but the trunk lines are well supplied with
cars and are making ready for the pros
pective Improvement
the day in railroad circles was the publ
cation OF the annual reports Of the Harrl-
man lines for the fiscal year. In both in
stances the falling off was largely due 70
Increased taxes, that item IN the Union Pa
citc statement being l7.5s per cent greatSL
than in lS06-J7, and Southern Pacific 500
per cent greater. Both lines show material
gains in net earnings for the month OF
Rock Island Frisco system, dealing with
general conditions, in which the statement
pioyment. excited some interest. but did not
have a serious effect. The receivership pro-
ceedings against the PENNSYLVANIA Coal and
Coke company served TO call attention to
the soft coal situation, but was otherwise
ignored. As a whole. the coalers held com
psratively firm. though Reading was fire.
duently subjected to pressure. Smelting led
the industrial stocks. making a sharp re-
covery from Saturdays close, and the cop
pers moved IN sympathy despite another
cut in the price of the metal. The declara-
ton OF a 5 dividend, presumably Tor the
quarter, though not so stated. by the Stanu-
ard OIL company of New Jersey, in place
Of a previous disbursement of SO. was the
only noteworthy feature Of the outside mar
ket. The Eagaries Of a well known market
manipulation from New England caused
some uneasiness in conservative quarters
but elsewhere they were the subject or
good-natured ridicule. Much the greater
part Of the days business was done in the
early session, trading becoming restricted
In the afternoon, while the list developed a
heavy undertone. In the last half. however,
under the lead of st. Paul. Smelling and
Reading, the market grew strong ana the
closing was active at the days best prices.
Trading for European account was nom
inal. Our securities held well in London,
with a sharp advance for Canadian Pacific
absolutely unaffected by the reported $500
10000 loan to insure British naval supTem-
acy. Indeed, the only interesting news from
abroad was contained in the semi-annual
statements OF the British banks. which
failed to show the expected increase OF re-
serves. The most noteworthy feature OF
these exhibits was the heavy Increase IN
deposits, which was attributed TO dull trade
conditions. The local money market ruled
steady and dull, with no change in the rates
for time accommodations and a very light
demand for call loans at l per cent.
Government bonds were unchanged on
call The general bond market was easy.
Total sales, par value. a.134,00o.
NumIer OF sales ana leading quotations
on stocks were as follows.