Omaha daily bee., 1908-08-06
NEW YORE STOCKSAN BONDS
DiSquieting Reports About Crops
Hinder Rise in Market
PRICES CONTINUE TO ADVANCE
New High Levels Reached In Several
Instances, Notably Metal In
dustrtals-Bonds Are
Strong.

NEW YORK. Aug b-The speculation
for the advance IN stocks was hampered
again today by the disgusting buoyancy
Of the wheat market Speculative opera
lions are discernible as partly responsible
for the speculative jumps which have &C
CURED IN the wheat market In the last
few days and Is made for this
tact in estimating the significance Of the
price movement as an index Of crop con-
ditions.
The financial district has not relinouished
its comfortable faith that prosperous crops
for the year are already practically as
sured. The news Of the high temperature
Of The last few days, however. have not
been without disturbing effect. coming at
a period recognized as critical 10 the
spring wheat crop. Private experts in the
employ OF speculative houses both In grain
and stocks have added the burden OF
alarming reports OF the extent Of the harm
done to spring wheat by rust. These in
tuences were at work at fun force In to-
day's financial markets. With the tenn
perature at the excess Of discomfort in
Wall street itself the professional profit
Spectators were more than ever impressed
with the possibilities OF burning up the
green corn crop before IL is garnered. The
government crop report TO be published
on Friday ts awaited with more than
usual Interest. The sinister import al
lowed for the rise in the price OF wheat
was Of effect in c%urtailing rather than in
preventing the advance. Prices in many
Instance in fact rose TO new high levels
for the present year, although yesterdays
records were not greatly bettered I'm that
respect. OF the stocks which are fav-
orttes with the professional traders this
was generally true. The group OF metal
industrials was all notably strong. National
Lead and American Smelling especially
ouoyant and outstripped their companions
In the group. Some Of the railroads run
ming through territory In the southwest
took up the advancing tendency after re-
action set In for the spring wheat gran
gers. The squirt in Rock Island preferred
was given some speculative Significance as
a possible reflection of the entry into the
movement Of the group OF capitalists In
control of that property. Among the fac
tors making for restraint besides the wheat
damage reports were the preparations max.
ing by the Interstate Commerce commits
sion TO investigate the proposed Increase
in freight charges. The news Of activity
by the Department Of Justice in seeking
evidence to prosecute the suit against the
Hartman railroad merger was regarded
as a possibly disturbing factor as It shall
develop. The resort to flamboyant adver-
strength Of wheat and the speculative
Juror in stocks was looked at askance to-
day as likely to cause dlstrust rather than
TO inspire a following. The sustained
strength Of wheat and the speculative
tone Of stocks as the day wore on helped
10 make the closing easy.
Bonds were strong, Total sales, par
value. 6,sl600 United States SIS registered
advanced nc and the Is registered 4 pei
cent bid price.
Number Of sales and leading quotations
on stocks were as follows.