Omaha daily bee., 1908-08-01
NEW YORK. STOCKS AND BONDS.
Days DesultOry Speculation centers
in Copper and Allied Issues.
MOVEMENT IS WIDESPREAD
Due TO MarkinE Tn of Copper in New
York and LondOn-GOuId Issues
Rise on Report OF FinapcinE
of Immediate Needs.

NEW YORK, July s.-Today's desuitory
speculation conferred in copper stocks ana
shares OF companies in allied indgstries;
but moderate. except for the late bulge In
Reading. The feature Of the market was
the scarcity OF stocks offered, - that the
advances were made on comparatively Ugh
dealings. This was true even OF the copper
stocks, In which the dealings were most
active. The price OF the metal was marked
UP again at the metal exchange and the
price OF warrants In London rose again. AT
the same time general advices concerning
the condition OF the trade were OF marked
Improvement, with reduction of stocks and
growing demand from consumers. There
were rumors In circulation OF the formation
OF speculative pools to operate some OF
the most prominent copper stocks. The
movement was widespread. affecting Anal
gated Copper and RIO Tinto, the principal
foreign producing company. Minor copper
stocks moved in company, both on the
Am rican Smelling and National Lead
showed their usual close sympathy with the
movement with this group OF SECURITIES
ket was somewhat languid and lapsed in
the pauses OF the buying Of the coppers.
The Gould stocks were first to move
outside coppers. The announcement that
provision had been made to meet the
100000 obligation on Wheeling and Lake
Erie notes, maturing tomorrow. gave some
strength to the group, although the inn
preston remained strong that the princi-
pal benefits from this settlement Will ac-
erue to other properties. No authoritative
information was forthcoming of the terms
which had induced banking relief for the
situation, but II was supposed that the
Hartman interests we're Insured some ad-
vantage for their properties in the opera
ton OF the Gould lines. This extreme re-
ticence of all parties to the transaction
left room FOR some doubts as to the ac-
curacy OF the reports in circulation, as this
accounted partly for the dizziness and hes
itation of the trading. The Improvement
In condition of the cotton crop during July,
reported by the agriculture department was
a favorable factor, but 1t had been so
closely predicted In preceding private es-
Inmates that little influence was felt
tention was paid to rust damage. to wheat
in the Dakotas, the large offering of
wheat for sale serving to discredit these
reports to an extent. The departure
from wall street OF E.. H. Hartman
caused an impression that an impell-
Ina force in much Of the recent activity
was to be withdrawn. The developments
regarding the efforts of railroads to secure
an enhancement OF their compensation for
effort. Reports OF the special attention
being. given by the attorney general to
carrying fright were not considered of
hopeful augury for the success Of that
show a likelihood OF active opposition by
the administration to the proposed adj
vances. The continuing of the injunc-
ton granted by Judge Speer against the
southeastern rate increases Indicated the
kind OF obstacles likely to be encountered.
Developments in the money situation were
not important.
Bonds were steady: total sales, par
value, 50, 600, United States bonds were
unchanged on call.
Number of sales and leading quotations
on stocks were as follows.