Omaha daily bee., 1908-09-01
NEW YORK STOCKS AND BONDS
Bull Party Again Easily Demonstrates
It's Control Of Market.
FEW PERIODS OF REALIZING
Points OF Positive strensth Always
I'm Evidence 20 sustain the
Market-New Level for
United states steel.

NEW YORK. Aug 3r-The bull party
easily demonstrated Its control Of the mar
ket again today but IL showed a disposition
to use its power with moderation. There
was nothing sensational about the market
and dealings were on a restricted scale.
Any occasional downward tendency Of
prices, however, was restrained and there
were sufficient points Of positive strength
in the market to serve as adequate sus-
tanning forces.
There was a fair degree OF realizing con-
Quoted at various times during the day,
especially during the execution Of buying
orders at the outset by commission houses
representing the accumulation of business
over the end of the week. There was a
good deal Of curiousity in regard TO this
end-week commission house business, owing
to the reliance placed upon IL as an Index
of growth of public interest i'm the market.
There was some fear that the apprehension
growing out Of the investigation of stock
exchange methods by the board of COVER
nors, now in progress. might have the eff
feet Of lettering outside interest in the
stock market. Its influence was felt, IL
was believed In the small amount of the
new business coming from outside sources.
A growth Of such busness was not lacking,
however, and IT was taken advantage OF
to- effect some realizing sales, marking the
conservative disposition Of the controlling
pull movement. That movement was praC-
tcally unopposed I'm the days transactions,
the bear party being almost n~on-existant
according to the common agreement OF
the, best Informed opinion about the stock
exchange. The punishment dealt to the
bears last week and the important failure
OF a STOCK exchange house, short or the
market, was not lost sight of, and served
as a continuing influence of intimidation
against operations on the short side OF
the naAGk The days developments were
not tmpo@Int, but were generally on the
side of keeping confidence in the specu-
lative outlook.
1t is taken for granted that the heavy
accumulations of reserves In European
banks are in preparation for forthcoming
government loans, especially a Russian
loan. No doubt is felt, however, that a
rice in interest rates here by reason of
interior Withdrawals for crop moving or
increased business activity or indeed from
speculative employment of funds, would
draw gold from Europe up to the point
where interest rates would come TO a level
attractive enough to turn the tide of the
movement again. The coming outflow OF
the country's crops raises the question
oblige to remit gold in payment, whether
our money market calls for relief or not
Inc days strength was shown mostly in
industrial specialties, including the copper
group and the New York public utilities
The railroad list was inclined to lag, in
spite OF the leadership of the Hartman
Pacifics. Southern Pacific raised its high
record price again. United States Steel al
liZt5, sold practically at a record price
since the dividend of IA was deducted this
month. The stock sold at 113h in Janu.
airy of 1905. The late advance in wheat
ana forecasts of a severe decline in cot,
ton conditions during August. without al
lowance for recent storm damage, contri.
buted to the late reaction in stocks anc
to the easy closing, The days net re,
suits we're small.
Bonds were strong. The special strength
or japanese bonds was due to the sdop.
imperial Japanese government. Tota
sales, par value, 81, go, 600. United State,
bonds were unchanged on call.
Numter OF sales and leading quotation,