Omaha daily bee., 1908-10-01
NEW YORK STOCKS AND BONDS
Prices are Practically MotiOnless and
Volume Of Trading Small.
SUPPORT OFFERED ON DECLINES
Evidence that Powerful Interests Are
~ Work Preserving the statu
QuO-Individual Issues AZ
fected by RumOrs

NEW YORK, Sept. SO.-The stock mar
ket today gave evidence that II has passed
through All the usual ounte fluctuations
which follow the elimination of a specu-
lative movement of any duration. Prices
were practically motionless and such
entirely to the shifting efforts of q class
OF small room traders. There were no
large operations perceptible and not sign
or any outside interest in the market.
The class Of operators responsible FOR
the former speculative activity were pass-
i've or confined themselves to protective
prices. The stability of the market cor
rooorates a superstition that support Is
offered on declines. This show OF sta
billy in itself helps to. keep pressure off
the market and there" is no show of the
selling of small Investment holdings,
tudes to which prices attained While
liquidation is thus discouraged there Is
no accumulation OF stocks going on and
the diminishing volume OF the market Is
the consequence. The semi-sta ~gnation Is
quite generally attributed. in the Than
cial district, to a desire to await the pass
Ing of the elections before taking a posi-
ton in the market. This market attitude
Is partly a reflection of the commercial
world. from which come reports of post
decision. The feeble currents i'm the DAYS
price movement did not sweep the whole
list at any time, but ran in eddies. af-
fecting only a few stocks. These limited
movements were brought about often by
news or rumors affecting only the indi-
" ihuol hNOGhbs AUG OEehk III InleTnaNlOld
Paper preferred he'd an uhsettling effect
and was first attributed to damage to
the cOmpany's property In the forest fires.
Later the reduction in the dividend fur
nished a truer explanation. The reduce
ton ia, a 2 per cent basis of the dividend
from the I per cent basis maintained for
two quarters compares with the 6 per
cent basis maintained up to nine months
ago. The episode was suggestive of later
revisions of opinion made necessary by
crisis on business.
The extraordinary abundance OF the
money supply was signalized by the easy
rates for call loans on the eve of the
something like $3.50, 900, 900 in New York.
Today's rates OF ia to : per cent on call
have not been equaled in the first week
Of October since 1894. In London also
discounts eased when It was seen that
supplies were more than sufficient for
the settlements. Some hardening effect
on prices OF securities in spite of the in
tensely dull market and was q natural
consequence of this money position. A
recent order for 1000 freight cars placed
have been duplicated by the exercise of
an option secured when the first order
was placed. This report was made the
occasion for advancing the shares of that
interests. The Goulds were affected by a
revival of Hartman control rumors.
Canadian Pacific responded to assertions
that its strike had been called off. The
price of copper was higher in London. 1t
was disassociated factors which furnished
motive power for the small swing of
prices.
Bonds were firm. Total sales, par value,
S2,lS4,000. United States Is. registered,
advanced = per cent and the As, coupon,
a per cent on call.
Following were the sales and range OF