Omaha daily bee., 1908-12-05
new YORK STOCKS AND BONDS
Restraint Under Which Stock Market
Has Labored Thrown Of.
AWAIT PRESIDENTS MESSAGE
Panama Canal Bonds TO TOT of
Thirty Million Dollars VIII he
Placed on the Market
Today.

NEW YORK, Dec. 4-The restraint under
which operations for higher prices in the
stock market have labored during the week
was thrown off to a large extent today
and the advance was resumed with more
appearance of harmony than any movement
mas shown for many days. There was much
discussion on the floor OF the Stock eX-
change OF the supposed contents of the
forthcoming message of President Roose-
welt. The word was passed around that
me tone OF the message was mild and that
II contained nothing calculated to cause
fright to the most timid speculator. 1t was
alleged also that the modification of the
S~herman-anti trust law would be advo-
Gated so as to provide against its appliCa-
uion TO other than unreasonable combina-
lions in restraint of trade and so open the
way to allow agreements amongst railroads
on rates. The action OF the market owed
something to the relief afforded by the
speculative liquidation already effected, and
OF which there was evidence Of a subsistence
To-Day. This was notably true OF United
states Steel, In which the selling has been
persistent throughout the week.
Inc freedom with which that stock ad-
Vanced, although to a moderate extent, was
OF material effect in shaping sentiment on
the whole market. Low priced stocks con,
tlnued a prominent feature and in some
OF these the only reason advanced for vola-
tile upshoots was the activity of the market
pools, which had accumulated large
amounts of chosen stocks and were holding
them out of the market for higher prices.
Manipulation to that end was rather obvi-
Gus in the case of some of these stocks.
Inc Gould group, led by Wabash preferred,
was a conspicuous feature of the dealings.
Great Northern preferred was the leader
or the high-priced stocks. Rock Island pre-
terred advanced again to a point higher
than that touched I'm the squirt i'm connec-
tlon Will the sale Of st. Louis & San Fran
cisco bonds. The strength of this stock
was helped by a recollection Of the fact
that the present 4 per cent rate Of prefer
ence in dividends which 1t enjoys is to adj
vance TO 8 per cent on the expiration Of
the year 1909 and to 6 per cent at the end
OF 1916. The money market continued sitter
than of late.
Preparations were in pr = ress today for
participation in the Panama canal bonds
issue, for which subscriptions to an amount
OF SD,OOO,OO0 are to be opened tomorrow.
me usual preliminary estimates of the
weeks currency movement pointed to a
heavy loss in cash by the banks, largely on
account OF government operations, but in
Guiding also shipments of gold to Paris and
TO Canada. Funds have come from the in
terror to the amount of nearly 81, 1000 O0, but
the other demands are expected to lessen
holdings to the extent of 5000, 900 to $780,
coo.
There was a sharp expansion in the
weeks grain exports, the wheat outgo
rising 1,164,O 600 bushels over last week and
corn exports also suddenly increasing nearly
100000 bushels to 1905, 290 bushels, the
heaviest outgo for that grain Of the pres
ent season.
Bonds were strong. Total sales, par value,
S6'33O,VOO. United states bonds were UNI
changed on call.
Number of sales and leading quotations
l OH EInGKG WnTn