Omaha daily bee., 1908-10-24
NEW YORK STOCKS AND BONDS
Cross Currents in Movements Of
Values Unsettle Market.
PROFESSIONALS CONTROL LEADERS
Declines Are Met with Supporting
Orders and Each Rise Brings
Selling Orders to Take
oft

NEW YORK, oct. 2S.-There were many
cross currents in the movement or stock
quotations today but mons OF them was
confused In consequence. The dominant
Influence in determinir z the attitude OF the
professional traders owaTd the market was
the action OF the handful OF prominent
stocks which have been the leaders Of the
market throughout the summer. In these
It was rather obvSus that the price move
ment was restrained by encounteriEg orders
opposed to the movement before It had run
far. An advance in the price attracted
brought in buying orders sufficient to
check the decline.
The selling developed each time at about
the price where dealings yesterday left off.
Such a movement suggests a feeding out
Of stock to take profits, with careful sup
Iort asserted when the selling makes any
impression on the price. 1t wa particu-
lsrly notable in the two Hartman Pacifics,
ST. Paul. the two Hill railroads and Read
ing. II was the cause of the final decline
and weak closing. At the same tine there
was some positive strength shown at other
points which served as a sustaining force
against the current of the profit-takinB,
Instance. This group, including the mining
and smelling stocks. wac helped by the
rews from the copper metal market. Prices
were advanced again at the New YOrk
Metal exchange and II was reported that
something like excitement was beginning
to be shown In the buying by consumers
of copper. In American Sugar also there
was the effect Of trade development
grades Of refined sugar. having risen In the
quotations. United states Steel, while NOV.
ing moderately, touched the high price OF
the year at ass. On September 3, the day
before the last quarterly dividend was de-
Quoted, the stock touched the same quota.
ton. tn quarterly report Of the corpora.
ton is to be published next Tuesday and
the speculation is inclined to assume q
favorable showing as to earnings and UNI
filled orders on hand. Reports of intended
purchases of equipment by railroad COM
panies are In favor of the steel stocks also
An advance in traction shares was at
tributed to the result of the election ir
chise, as an indication Ct the drift Of public
sentiment on the question of restrictions
on public utilities corporations.
The general news events of the day had
little reflection In the stock market. For
eign markets showed some revived un,
easiness over the reported mitch in the
Turkey and Bulgaria. London sold somt
stocks In this market and there was ar
early upward movement in the exchange
rate; The promise of a small gain in cast
by the banks as a result of the week
currency movement was a corrohoratioI
OF last weeks evidence that the presen
appeased. There was a slight discount OF
New York exchange at Chicago today, how,
ever, which. is the first time this week. Tn,
money market remains in q TRANQUIL state
Announcement that hearings will b.
begun next month in the government sui
10 annul the merger OF the railroads unde
such a suit, which doomed large at on.
time In the speculative view, but which
has long been lost sight Of.
Inc weeks exports showed a heavy move
nent OF grain. wheat with flour. 61N,9 2
bu., as against 4,45S,O27 last week, Will,
there was a jump in corn exports TO 1914
blu: from 62,6sS last week.
Bonds were firm. Total sales, par value
%5,OI4,WO. United States 2s registered de
clined - per cent on call.
Following were the sales and range o
| prices on the StnpE AHnhanna