Omaha daily bee., 1908-08-29
NEW YORK STOCKS ANDBONDS
Days Movement Upward, Interpreted
with Periods Of Profit Taking.
READING LEADS THE ADVANCE
HarrimaRs. steel, smeItinR sna
AmaIgamated Copper Are Active
AtchIsOn Advances on Report
of Gain In Earnings.

NEW YORK. Aug. 8-There was another
%ppbidding of the prices on the Stock ex-
change today. interspersed with freauen
periods OF profit taking The days pusi-
ness was fairly large, put again the bulk
OF the trading was IN half a dozen Issues
Reading the HARTMANN smelling ne
Some new theories and contectures we're
advanced TO account for the rise In SOUTH
record. but were given no encouragement
IN official circles. Obviously the large
short interests which existed early in the
pletely eliminated.
The increased demand for bonds. a con-
splcuOus feature of the market for the last
few days, has done much 70 restore conf
dence in the market, and a broader and
more general inquiry for high class issues
is confidently predicted. Crop advices at
hand today were in line with the encourag-
ing news OF the early week. but later adj
vices from the flooded districts In the south
fully confirm previous dispatches telling
OF heavy damages to growing cotton and
serious losses in various Industrial and mer-
camille lines. P~tttsburg reports Increased
iron interests and the recent course of the
Steel stocks and kindred securities sug-
gests an all around better feeling in that
Industry. The stock market became dull
in the early afternoon. bur not until a dem
onstration in Reading had carried that
stock up Ia points. The buying came from
interests previously Identified with bull
movements in that stock, and was attended
by rumors OF favorable developments in the
property shortly. In the group Of special
ties the feature was Consolidated Gas
which advanced over I points on moderately
large purchases A final decision in the 90
cent gas is expected before many weeks
and tOday's movement was in some way
associated will that event. The total re.
suit Of the day was hardly satisfactory,
some OF the more substantial early gains
being changed to losses before the close,
which was heavy. Estimates of the week
cash gain varied from S~3.500,Oo to S.5O0,00
but whatever the showing tomorrow the
banks are now 50 giutted with money as t.
make no material difference. Further large
Shipments of gold to Canada we're made to-
day, the aggregate for the week already
exceeding 2dQD,010. with indications Of a
continuance Of the movement. From bank
ing sources interested in the movement II
VAS learned that these shipments are being
made for London, which happens to be q
debtor to Canada at this time. London
bought very moderately here and q rise N
copper metal here was reflected in the bet.
ter tone OF the copper stocks abroad. The
most interesting railroad return of the day
was that OF Atchison for July, wherein a
heavy decrease in gross earnings was con
verified into a net gain. The publication OF
this statement was followed by a smart
rise in the stocks and increased activity IN
the convertible bonds. Missouri Pacific
rendered its reports for the fiscal year
showing a net decrease in operating rev
enue Of almost SS. 600. but like Atchison
it's June statement showed a net increase
Bonds closed steady. after some loss OF
their early strength. Total sales, par value
IS, 10000. Government bonds were un'
changed on csu.
Number OF sales and leading quotations