Omaha daily bee., 1908-07-21
new YORK STOCKS AND BONDS
Last Weeks Rise in Prices Prompts
Selling to Realize,
ALL OFFERINGS ARE ABSORBED
UnfavOrRbIe Eject on value 4
small and Market shows No
Positive weakness at
Ans Point.

NEW YORK, July 2O-Considerabl sell
ing to realize profits came in the natural
order of thirgs on today $ stock market
AFTER the attractive advances of last week.
The feature about this operation that at.
tracttd most attention, however, was the
name in which these offerings were alb
produced on prices. There was restraint
apparent on any further upward move
ment in stocks which had become most
buoyant by the end Of last week, but no
snow OF positive weakness at any impor-
tant point Ia the market. There were vari-
Gus new points OF positive strength which
served as sustaining forces for the whole
list.
There was little news bearing on special
properties and the movement was based
almost wholly on the growth Of confidence
In the general outlook and the improve
ment in speculative sentiment as applied
10 the Industrial, financial and commercial
outlook as a whole. ~This found expression
In some substantial increase Of demand for
stocks as well as in an expanding volume
OF buying on bonds. Commission houses
reported a more general participation In
the buying on the part of the clients scat
tered throughout the country and outside
the class Of habitual spectators Of the
wealthy class. Foreign stock markets also
sent orders to this market, the attraction
Of sharing in the movement here being
heightened by the comparative stagnation
which persists in foreign markets. In the
bond market the broadening tendency per
sisted. Par value Of bonds sold at the
Stock exchange last week rose to over
$lI,OOO,O0O, which represents an increase Of
over 100000 over the sales in this week
OF last year. II compares, moreover, with
a volume of more than 100000 par value
late in June, since which time there had
been a steady increase in bond sales at
the Stock exchange from week to week.
The bond market shows other signs of i'm
proving health, especially in the increas-
Ing number of issues of varying size COM
Ing from first hands and purchased by
bankers for resale. The relief of the con-
gestion In this department of financial af-
fairs is regarded as Of prime Importance
IN Keeping uD the movement towards i'm
provement in general affairs which has set
In. Railroad traffic officials gave testi-
terms and with allowance Of but moderate
degree of Improvement. A substantial in
crease in the movement of wheat made up
a factor that could not be ignored in this
connection. The recommendations in the
northwest have gone far to reassure senti-
ment over the spring wheat crop and made
an Influence both In the wheat and stock
markets today. The undertone of strength
in the railroad stocks is maintained by the
widespread conviction that measures are
In train to bring about an increased rate
OF compensation TO the railroads for the
transportation service. The further read
)ustment OF wage schedules in the iron and
steel industry, which was effected last
week has been followed by reports of fur
Their resumption of activity in those indus
tries and this was a factor in stimulating
the stock market. A rise in the price of
copper In the London market also helped.
A rise in Standard OH In the outside
market was cited by the professional ele-
ment as evidence of the nature OF the
backing for the movement to advance
stocks. Supplies of money continue abun-
dant and no apprehension is felt on that
score for the future, although the markets
are recognized to be on the threhold OF
the annual interior demand for currency
to move the crops. The stock market gath.
cred renewed strength in the latter part
of the day and closed at substantial ad
vances throughout.
Bonds were strong. Total sales, par
value, A,Hs,o00. United States bonds were
unchanged on call.
Number of sales and leading quotations
on stocks ware az fOlIcUs.