Omaha daily bee., 1908-09-02
NEW YORK STOCkS AND BONDS
Firm Undsrtons Is Attributed tc
Strength Of Hartmann
SHARP Rise IN SOUTHERN PACIFIC
Market fs Heavr ~ Outset Becsas
Of SeIlfnE Orders frem " est ana
Ahruad-Net nhnEes fer
nnr Are small.

NEW YORK. sept. The firm under
tone Cf the msrkst again today Vas w
doubleday H~ttrihutEhle 70 the EEmphifcl1t
effect Of the strtnEth IN the hhrrlmhh
stocks Southern Pacific was the con
EpiCuuuE feature OF the DAY. as on many
cEvE past and the movement was pErCepu-
be 70 q greater or less extent m siockf
Of ali properties with which the Hartman
name s connected as q supposed dominant
or controlling furcg. This brought in lln-
noiF Central and Erie as well as Union
Pacific. Southern PBcific proceeded on ITS
way 10 new record levels. crossing Dos dur
iuE the dEy. Wnntever realizing sales were
brought out by the rise were absorbed
viii ar aggressive determination that hac
an impressive effect On speculative senu-
mBut coward the whole market. The move
mruts elsru here were NOT notable anc the
volume 81 The market outside Of these
restricted lines was not large Rumur con
rinueo busy with supposed projects for new
financing uf Southern Pacific looking TO
The retirement Of the preferred stock These
rumurE are disCuuntenBnced IN official
Quarters, where the persistent rise In the
shares Of those properties are preferably
attributed 70 improving business conditions
hnu confluence in Their continuance suth
improvement was moi strlEinEly reflected
IN any news Cf the day and news IrmE
we're regarded as evidence u the slCWness
81 the betfH-meTr Such was the state
meut q varnilEs Of the P-CnnEylvHuia svs-
lem Tor july. Tho drastic Cu1 Of &.1N. 100
IN The operating expenses effected for that
single month EEL &1lSh short o. the
amount Of The falling off in gross earn
inGs. Incl thus measured the decrease
m Det returns f1r -he month. The line
west Of P1ttshurC and Erie also show p
d~ecrease a Sai-HW in the net compared
with last wear, Notwithstanding a T~etrenCh-
ment OF E40@. SO IN the operating cost
Such e showing is not encouraging for the
belief IN effective reCuperBtiun I'd 10 thai
Time In the vs-ied traffic Of that extensive
system. Tn effect iE offset 10 some extent
10y the claim that the rate Of improvement
has become mora rHuid since.
The days developments regarding the
crops were not helpful 10 an advance IN
values The government report on the
condition Of cotton showed 3 wider DECLINE
N the percentage than had been fore
Swallowed by any Of the expert private
estimates which have preceded It. Tns gate
q The going back 10 s .
also leaves no allowance FOR the damacr
done by the streams and floods Of last
week The cotton market ltsulf showed mt
perturbation over the showing. which dic
not disturb the control Of the bear ele
ment. A private estimate on corn comb
ton made IN unpleasant impression and
was Of some influence on Iht grain mar
ksts. The weather buraHu'e weekly huTletir
confirmed the view Of needed elements Il
Inc weather factors 81 work on both tn,
cotton and corn crops. There was Eom'
disposition 10 await the result Of the Yer
mont election. Of which nothing was know
as TO the result during the session Of thl
Stock exchange, and the dulluess Of rh'
trading was ascribed in part 10 that con
Eiderariul.
The market had q period Of deoided heav
mess al the outset. curing which seiliuI
orders were said 10 come Doth from WeEt
err wire houses and from foreign quarters
The prOfIt-tRktng sales were resumed q
different times. 50 that the sustaining IN
fiuence q the Hartman stocks was psrrll
neuIrBlizec. The large absorption Of homo
Is q feature Of The present situation. whicl
Is not surprising In view Of the redundsu
state q the munPy market August sale
Of bonds al the Stock exchange reached a
aggregate par value Of SR2 Ga 800. which
with the exception Of 1905. is the ls-EeE
August business IN bonds IN the record
Of the Stock exchange. In connection wit
tins active market for mortgage securitie
II az regarded as significant that new in
corporations FOR H.G0 ono and upwards q
share capital fell 10 a lower total fur Al
gust than for any other month since IN
era OF large corporations opened Tt
dhys opposing movements balanced eHc.
ether SO far as 10 leave Inc net result
small
Bonds were firm Total sales. par value
SA2.@0. United States BONDS were IN
changed IN call.
Number O. safer Hnn lea SlnE uuurHripu
or stocks were as FoT1rue