Omaha daily bee., 1908-10-10
NEW YORK STOCKS AND BONDS
War Cloud Over Eastern Europe Prin-
cipal Factor in Dealings.
HEAVY FOREIGN OFFERINGS
Values Drop, but aet Comes ON
Favorable Domestic News and
Market Closes with Few
Net Changes.

NEW YORK, Oct. s.-The war cloud over
eastern Europe was the principal topic OF
consideration and influence sim, although
the center Of the resulting disturbance in
the securities shifted somewhat. The eff
feet in New York was modified to some
extent by counter factors. Today's condi-
ton in the London market were described
In cables to Wall street as most panicky.
Foreign exchanges all turned strongly In
favor Of London, the movement being most
marked here, but notable also at Berlin
agd Paris. The price of British consols
INT down a full point at one time during
tse day and other government securities in
London were acutely depressed. The Ldv-
erpool wheat market also was greatly
perturbed. The mobility of the British
fleet in the Mediterranean was the direct
cause of this awakening of apprehension in
London itself. that movement seeming to
threaten the immediate entry OF Great
Britain into the field OF warlike prepara-
ton.
The direct effect on the New York mar
ket was much the same as yesterday and
estimates Of the number Of shares sold for
foreign account ran close to those Of yes
terday. The respon was even more pro-
nounced In the foreign exchange market.
The tone Of sterling exchange was called
demoralized, so much so that bankers
were disinclined to undertake any drawings
In view of the seeming immlnence Of gold
output. The barrenness OF this supply Of
bills was responsible as well as the strength
of the demand for the movement OF ex-
change. Demand for sterling rose at one
time 50 points over the close yesterday
1850 W NobAo nGA3 1bOhN -
much affected. The local stock market
was helped by the strength of Rock Island
and the Hartman Issues, which was due
to the significance attached to the an
nouncement of the provision for the $1,000
600 st. Louis a San Francisco notes matur-
ing on December l.. A favorable effect on
sentiment was to be expected from this
relief from threatened embarrassment OF
an extended railroad system, especially with
the assurance implied that next years
heavy note obligations of the same system,
amounting to over so, 000.0 900, would be
similarly taken care of in due course. Good
prospects for a permanent ~refunding OF this
Indebtedness was inferred from this de-
Velopment. But the speculative element
rushed to far wider implications from the
fact that the provision for these notes
was announced by the bankers who finance
all the important Hartman transactions
and not by the firm closest to the Rock
Island management. A new direction fol
Mr.. HarrimRn's supposed complex projects
lecture. This accounted for the promi.
nence Of Union Pacific, Erie. Missouri
Pacific and such properties as Mr.. Har.
riman has been credited with d~esigninE
for his helpful ministrations.
AS the money market remained Tranquil
no attention was paid to the estimates OF
a cash outgo for the week of over 5000.
In foreign exchange, in British consols ant
In wheat there was reaction from the day.
most violent extreme. Final prices OF
stocks, in fact, show little change from
those of the day before.
Bonds were weak. Total sales, par value
$3,566, 900.
United States bonds were unchanged OF
call.
Following were the sales and range o.
prices on the Stock exchange today: