Omaha daily bee., 1908-05-29
NEW YORK STOCKS AND BONDS
Demoralizing Breaks in Gould Stocks
Feature Of Day.
STRONG RESISTANCE DISPLAYED
slight Eject on other Issues Encour.
ages sPeculRtOrs-IrOn Trade
and Crop Condition Re-
ports Favorable.

NEW YORK, May 2s.-The stock market
today had to sustain some rude buffets
In the demoralizlng breaks in the Gould
stocks, and the power OF resistance TO this
influence which was displayed had some ef-
feet OF reinsurance on speculative senu-
ment. 1t has been observed of the specula-
II was not urgently pressed on railing
market, advantage being taken rather OF
strong periods to market stock. This fact
has Impressed the belief in the strong re-
sources OF the sellers to realize
The apparent composure with which the
drop in the Gould group was viewed may
be due to the survival OF a conviction that
good to the general situation may be evolved
out OF the reorganizations believed 70 be
towards the news OF receivership for
Western Maryland in March. That project
posed wabash extension to the Atlantic
seaboard. as the Wabash Pittsburg ter
minal does the western line. The difficulties
OF the Western Maryland gave rise TO ru-
mors that reorga nization would be on terms
to secure the Wabash outlet facilities and
at the same time do away with rivalries
threatened by the form of the project The
acute conditions developed today for the
securities concerned in that project grew
out OF the fact that interest on the first
mortgage bonds of the Pittsburg Terminal
company falls due on Monday next, for
which the provision is considered doubtful.
Nothing said by the officials of the com
pany was calculated to allay this doubt,
which was much aggravated by the unsup-
ported conditions Of the securities in the
minal company controls the Wheeling &
Lake Erie by stock ownership. as Its own
stock and bonds figure as collateral for
notes Of the Wabash maturing next year,
and as notes Of the Wheeling & Lake Erie
to the amount OF $4,000 will mature on
August l of this year, the complications
threatened extended so far as to affect the
whole group of securities in sympathy.
Doubts were impelled as well of the main
tenance of dividends on Missouri Pacific.
the last declaration having been made pay
able in stock instead OF cash.
Money continues easy in spite of the
weeks requirement of nearly 900 in
New York banks, already met for return of
government deposit and for export of gold.
Apparently this heavy decline is offset
fully one-third by the continued inflow of
currency from the interior The pRssage
through the house of the emergency cur
rency bill was the professed ground for
some OF the early buying of stocks. The
Southern railways April statement of earn
ings confirmed the March statement in its
evidence OF the successful cutting down
of operating expenses to an extent suffi-
Client to yield a better net return than last
year. London Copper was higher today
The decidedly more cheerful tone of re-
views of tie iron and steel situation was a
factor in making up the tone OF he days
speculation. So also was the sustained con-
fidence in the crop condition expected by
trade publications
Bonds We're Irregular Total sales, PAL
unchanged on call
Following were the sales and range OF
| prices on the Stock exchange today:
Sal IDW