Omaha daily bee., 1908-11-05
NEW YORK STOCGS AND BONDS
Market Opens Strong and Sells Of as
Result of Heavy offerings.
NEW DEMAND THEN MANIFESTED
Buying for Rest of nay is Persintent
and Comprehensive, and values
AR Lifted TbrouEhout
the List.

NEW YORK. Nov. 4.4The stock market
today demonstrated a striking capacity for
reaching a conclusion beyond a prevailtng
assumption 1t had. been pointed out with
great precision by a multitude Of advisers
what the exact course of the stock market
following the election would be. There was
to be an immediate bulge IN prices, helped
by manipulative tactics on the part OF the
powerful hackers Of the movement. thus
making the new outside buyers pay the
highest prices for their stocks and giving
the largest profits TO the inside sellers.
would Inevitably tell on the price Lowell and
a sharp reaction must be expected until
the gathering OF forces sufficient to resume
an upward movement.
The extent of the advances established
began In New York today confirmed this
stocks. and they acted in accordance with
this view. SellllI from these sources was
IN such volumes, in fact, that Few of the
had been In Lcndopi earlier. Instead of
advancing after the opening the market
gave, way slowly and on a volume OF sales
which has not been seen before this year.
Y was the subsequent ectionfof the market
that belied the common opinion After a
momentary pause at the end Ct the first
hour, when the buying orders seemed to
have been exhausted and prices were quite
generally a point below the opening high
level, there developed an impressive new
day was persistent and determined and
ranged over a wide field of choice in the
iSN VI slOtkS. Inc dimensions Oh the orders
executed in this movement gave evidence
or transactions by operators of the largest
resources Apparently great satisfaction
was felt over the digestive power shown by
the market in the p~rofit-taking period of
the first hour, and the profit-takers then
We're believed to be amongt the largest
puyers on the resumption of the advance,
Having brought the market to tho verge
OF the election period at practically the
highest level of the year and tackled on a
puoyant additional rise at the opening to-
day, and having conserved most of this
advantage after effecting a very substan-
tial realization of profits. banking interests
ana large capitalists seemed to come back
INTO the market with great confidence. The
sSnllment OF the country as expressed in
the elections was construed as favorable
TO capital and as opposed TO radical re-
aulustnents of established methods or re-
latlons between capitaf and labor and capt
taI. employment. A spirit of hearty CO
operation for upbuildlng amongst the
wealth producing forces was inferred. not
alone from the general result, but from the
various details of the election outcomei
The outburst Of speculative enthusiasm
WHICH resulted proved a surprise to the
most careful observers.
Beyond the election news there was moi
much of immediate consequence in the
news TO account for the days doings. 1t
Is generally expected that some important
measures of corporation finance will be
undertaken before long and funds thns
secured for furtherance of projects Of con-
slruction. The placing of a s., 900 CON
oIaCt Dy the pennsylvania company for
electrlcai equipment was accepted as an
index of confidence. =
The closing tone of the stock market was
very animated and buoyant and last prices
were close TO the highest of the day. That
level was the highest in the history Of
6nlied states Steel preferred and Southern
Bonds We're firm. Total sales, par value
S,OO.O0: United States bonds were nm.
changed on call. ~ WI" "N'
NSmbe Of sales and leading quotation!