Omaha daily bee., 1908-10-15
NEW YORK STOCKS AND BONDS
Market Has All Aspects of Narrow
Professional Affair.
VOLUME OF TRADING SMALL
Constant shifting Of Current Demon,
strntes Feeling of Hesitation and
uncertainty ON Part Of
Traders.

NEW YORK. oct A-The stock market
took on all the aspects Of a narrow profess
sional affair today. Its varying f%luctua.
lions were very meaningless and reflected
no convictions on the part Of those respon-
sible for the bulk Of the dealings, but
merely an attempt to effect a movement of
prices for trading purposes.
tn volume of the days transactions
was meager and the constant shifting Of
the current prices demonstrated the feeling
OF hesitation and uncertainty Of those TAX
ing part I'm the market. Yesterdays dis
position to revert to minor obscure stocks as
a medium for trading became still more
marked today and was in itself an occasion
for distrust. Such q movement often falls
IN as a sequence of a previous movement
n purpose 20 rectify the proportion of price
changes. A number of stocks came into
activity today which are often neglected
for weeks at a time stocks of the cheapest
grade and of the most doubtful value. This
stirring up Of the list was regarded as
ominous. To add to the disfavor felt to-
demonstrated a lack of support for some of
the stocks of a class only a little superior
which were marked up yesterday. Sales of
only a few blocks of these resulted I'm a
the degeneration OF the speculative move
ment prompted the selling of the general
list, which depressed prices.
There was no actual news to account for
the depression. The call money market,
however, continued to show a firmer tone
and to suggest some coming curtallment OF
$3.50 VI AAAAA9 ~ -
uses, which has been the prime factor in
keeping up prices. Some Of the most In
fluential Of the clearing house banks were
reported to be Withdrawing some parts of
the loans they have extended for stock
market uses and the professional traders
were ready to infer from this a changing
attitude towards the stock market on the
part of the powerful capitalistic groups
affiliated with these banking institutions.
Last weeks heavy loan expansion TO pro-
vide resources for the purchase of foreign
offerings Of stocks, of course diminished,
while not nearly eXhausting the supply OF
loanable funds. New York exchange at
Chicago has risen to a premium since the
opening of the week. This can hardly mean
a suspension of interior demand for funds,
the demand on that account being appar-
emily undiminished, but interior bank re-
serves are at so high a level that the de-
mands on New York can be foregone to
any actual need OF resources here. Takin
up of new railroad bond issues makes a
requirement on the money market. The
reopening OF the labor controversy in the
English cotton mills threatens a curtallment
of export demand for cotton and is having
an effect Of holding cotton bills for the
foreign exchange market. thus making q
FACTOR In the firmness Of exchange rates.
Discussion of gold exports, however, has
been suspended. Reports OF backwardness
In fall demand for anthracite were held to
account OF the special heaViness of Reading.
The Hartman Pacifics were affected some
what by reports of intended proceedings by
the government to retrieve mineral lands in
Nevada included I'm the railroad land grants.
Bonds were steady. Total sales. par
value, S,346,O0. United States. registered.
advanced * and the As. registered, &c on
call.
Following were the sales and range of
prices on the Stock axohanpa fndaV.