Omaha daily bee., 1908-08-28
NEW YORK STOCKS AND BONDS
Pronounced Progress is Made in
Direction of Higher Prices.
HARTMAN ISSUES TAKE LEAD
Continued Ease of Money Market
Causes Increased Demand for
Bonds and High Class
stocks.

NEW YORK. Aug. 27.-under the influ-
enCe OF a heavy covering movement, In
duced in large part by an evening up
process OF the shorts concerned in the sus-
pension of a. .. Brown 4 Co, todays
stock market made pronounced progress in
the direction Of higher prices. Again. the
leaders were the Hartman issues, southern
Pacific advancing to a new high level and
Union Pacific selling at it's highest figures
the case right along no tangible news At.
stocks, but the board room was full OF
gossip about an increase in the Southern
Pacific dividend and talk of better earnings
was found in the belief that no more UNI
toward incidents are likely to result from
the early weeks excitement. An excellent
which the new Atchison 81, OOO,O 600 bond issue
was marketed, and by the generally better
demand for high class bonds. In specula-
tive circles a more cheerful view of market
conditions seemed TO be taken. To the
careful student It is evident that the large
the more important corporations has
greatly reduced the floating supply of Sc
6 1sss 81 m Inen' b bSS' d ine Gon msnS w SpfaP1
individuals and institutions into the pur-
chase Of bonds and assured dividend
Trading during the first hour was almost
as large as for the entire previous day,
and such adverse factors as the flood dam
ages In the south and numerous unfavor-
able railroad returns seemed to call for
scant attention. For the month of July
llIly-llNt EdliTOdub reported a ueCIHhSe VI
1857 per cent in gross earnings, For the
second week of this month returns from
thirty-siX roads show a decrease in gross
earnings OF n.3 per cent, and for the
third week twelve leading lines fell off
1905 per cent. Among the Individual state
ments were Northern Pacific, with a de-
felt of $4,000 for Juna, and Lake Shore q
Michigan Southern, whose quarter ended
June 80, showed a decrease of over $500 OK
In surplus. The poorest exhibit was that of
Southern Railway, which reported a de-
crease in gross earnings from July l OF
81 ,4ss,O@ 1.-The third week Of this month
roads are making Yer Very slow progress to-
ward recovery Is evidenced In the July
statement Of Chicago & Northwestern,
which reported a decrease of about $4,000
The Hartman issues became buoyant
In the late session of The market.
and the entire list participated in the rise.
Reading made a net gain of ~, and South
ern Pacific and Union Pacific scored net
gains OF 81 and - points. respectively;
over 80 per cent of the days business,
which closed at top prices, despite heavy
realizing for profits. Lackawanna on
small transactions gained 1871 points.
In the London market, Americans were
strong, and some demand for Erie issues
was reported from the continent. The de-
mand for money here continues at a stand
still, with freer' offerings. Foreign ex-
change advanced smartly on active bidding
early gain. Another $500 gold coin ship
Tnent to Canada was made today, making
the weeks total to date 81, 250,0Oo. There
were few notable features in the weekly re-
turns of the leading European financial in
situations. The Bank. OF England total re-
serves increased barely 1900, 900; making its
cent, a gain Of 100 per cent on the previ-
Gus week, The Bank of France increased
it's gold holdings by about s5so,0O0.
Total sales. par value. IS, 5000. No change
in government bonds on call.
Nunbsr OF sale. an1 leading quotations