Omaha daily bee., 1908-07-24
NEW YORK STOCKS ANDBOyDS
Market Brosdens to Include Issues
Not Often Traded In.
MOVEMENT Is IRREGULAR
Political Effect of standard
on Decision offsets to some
Extent Rise witch Followed
Its Announcement.

NEW YORK. July 23.-There was mani
test growth OF general partici patton In the
transactions In stocks today, commission
houses reporting increased orders from a
scattered clientage. The market broad
ened perceptibly and embraced an increas-
ing number of securities not often trad, d
in. The long period Of dormancy OF some
of these While an upward movement ha
been going on In the general market max,
justmeut to the new order Of alu which
offers startling contrasts in the prices
made with those prevailing when dealings
last occurred in them. Such changes were
IN evidence today IN many instances. A
the same time active profit-taking wss
going on In the favorite trading stocks and
the price movement had a very irregular
appearance in consequence. This was one
market.
Movements lacked the machine-like pre-
cision Characteristic Of the earlier stag ;
OF a speculative campaign, when ope a
tons are almost wholly in the hands uf a
Few leaders acting In concert and depend
ing on devices OF manipulation to ACHIEVE
their efforts. Such growth of outside d.
mand as is now being seen in The stock
market is the object sought by the earlier
professional operations. and when II Is
secured there is usually no time lost in
taking advantage Of It to transfer to specu-
latiVe holdings and secure the profit &C.
crued. This profit-taking. while perfectly
evident from the action Of the market to-
day: was conducted with caution and the
control of the movement was not aban-
doned at any time. The professional ele-
ment amongst the room traders, however.
was disposed to read in this The proba-
bliity OF a turn In the movement and they
were keenly alert to detect signs that the
top had been reached. Experimental short
sales were adopted from time to time In
the effort TO feel for the top. Concentrated
selling OF various stocks, a large part Of
the selling coming from a single house,
Kept alive a suspicion that the important
financial interests, credited with fostering
the late rise in stocks, were reducing their
holdings and taking their profits. There
was a superstition that a large accumu-
lation OF holdings had been effected in an
tlcipation Of a decision reversing the S29.-
100000 fine imposed on the Standard on
company and IL was assumed that the
would prompt some selling out of tbs So
accumulations The decision continues
the subject OF active discussion In the
financial district, with general agreement
on its probable effect in reviving demand
for corporation securities. This effect is
especially expected to be marked abroad,
where the levying of the fine last year was
the cause of widespread distrust of the
ability of American corporations to escape
encroachment even to the extent of con
fiscation, On the other hand, there was
some difference OF opinion over the posi-
BILE political effect of the upsetting Of the
governments case against the Standard
Oil company and the reflected consequence s
TO be apprehended in financial Affair
No assistance was received from abroad
in sustaining prices of stocks, the harden
Ing of discounts in London, the declining
condition of the Bank Of England and the
Macedonian trouble combining to keep for
eign markets unsettled and depressed, The
price Of copper was again advanced in
New York and in London, and news of tn s
country's crop continued favorable, such
strength as was shown in the grain market
being attributed to foreign demand. There
was some pressure late in the day which
reduced the previous advances considerably
and made the closing tone irregular.
Bonds were strong. Total sales, par
value, $6,O90.000. United States bonds were
unchanged on call.
Number of sales and leading quotations
on stocks were as follows ,