Omaha daily bee., 1908-07-07
NEW YORK STOCKS AND BONDS
Market Springs Into Some Degree Of
Energy and Animation.
VALUES RISE ON HEAVY BUYING
steel Mills Resume work and Number
of I Freight Cars De-
creases--BOnds Are
Irregular.

NEW YORK, July 6.-The stock market
was bound last week and spfans into some
degree Of energy and animation. The day s
transactions rose to a larger total than has
been touched for a month past. There was
no direct development in the days news TO
account for the change in form, and IL WAS
attributed to inference drawn by an ele-
ment OF speculative operators from the re-
cent action OF the market, and which en-
couraged an embarkation in commitments
The feature most remarked for some time
past mas been the paucity OF offerings OF
level little affected in spite of the almost
absolute stagnation Of the demand. From
this II was deduced that IT would be easy
directed effort and a moderate accumula-
ton Of holdings. Such an accumulation
was evident today, accompanied by deter
often renewed after occasional pauses,
which denoted that the supply or stocks of
fered at the advanced levels was still
scanty. 1t did not appear that there was
any growth of general demand for stocks,
the recent inert market having given little
sncouragemen TO any speculative demand
from outside sources. A feature of the
days. dealings was the large orders COM
my from single sources, the number of
buying orders for 10, 200 shares and upwards
In different stocks attracting much notice.
In the bond market there was a perceptble
buying that was believed to come from in
Vestment sources, and this, although In
moderate volume, in behalf of the rise, that
the resistance OF the market to the p~rostra-
ton of the demand and to the uncertainties
In the outlook had determined the likelihood
that the clearing UP of uncertainties would
be followed by a rise. With the arrival Of
the week for the democratic convention and
the definite foreshadowing of its choice,
I was believed that some share of the hes
ttatton In financial affairs growing out Of
the doubts over the political future would
be dissipated. II is expected that with the
publication of the government report on
grain crop conditions on Wednesday, an
other step will be measured In the reading
Of the future over that important question,
II was the arrival at a defined opinion on
which 1t is believed prompted the new OPP
e%rations in the days market on the part
OF groups of professional or habitual oper-
ators of the larger class.
Money markets both here and abroad
gave evidence OF the renewed relaxation
following the July settlement. Discounts
were quotably lower In foreign money mar
kets and the prevailing call loan rate here
was Ia per cent, with manifest pressure
to place funds. There was a sharp advance
ing and smelling stocks were conspicuous
In the days advance. Large assumptions
In the steel mills in the Pittsburg district
were a helpful factor. Another reduction
number of surplus freight cars was con-
templated with much satisfaction. The re-
turn to service of idle freight cars since
the maximum out OF service on April 20
100, S7, leaving, however, 9,29S cars still
Idle. The American Railway association
also notes that % to % per cent Of the
latest decrease IL accounted for by retire.
ment Of bad order" cars which are sent
to repair shops and make way for re-
employment Of idle cars.
Bonds were irregular. Total sales, par
value N,9l4,OOO. United States Is declined
~ per cent on call.
Number of sales and quotations on the
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