Omaha daily bee., 1908-07-17
new YORK STOCKS AND BONDS
Selling to Taks Profit Causes
Irregular Price Movement.
GENERAL TONE Is UNSETTLED
Moderate shrinkaEe I'm Its Dimensions
and shifting Of Speculative
Alteration TO New Points
Are Features.

NEW YORK, July l6-The movement to
TAKE profits in STOCKS which developed yes
seIusy was extended Tor q time in todays
STOCK market: This process OF digestion of
profits caused an irregular price movement
and unsettled the tone to a degree. The
character OF the market was not essentially
changed in spite OF the moderate shrink
age IN its dimensions and the shifting of
speculative attention to new points in the
list. The industrial stocks and specialties,
some Of them of a low grade, received the
greatest share of the days new buying
orders, while Issues which have figured
hitherto in the strength Of the market
were subjected TO profit-taking. No strictly
new factors were introduced into the stu
The presentation by. the bureau Of statis-
tics OF the country's foreign trade for June
and for the fiscal year offered a striking
exhibit, although its main features have
been foreseen from the preceding trend OF
events. 1t became manifest early after the
sulting shrinkase in the export trade was
being outstripped by the curtailment OF
Imports, so that the excess value of ex-
than in the corresponding period Of the
year before. For the completed year the
s sssr Isl, R ios. Witch IN is OS SEQ t osY, go R Rqsste eeaf ths6
In the preceding year and establishes a
record for that item. The s%hrinkage in
points clearly to the prime cause Of this
showing and throws light on the compare
tive moderation Of the reflux Of gold in
the movement which has followed the $780,
100000 imports of hat metal last fall. Less
than half OF that amount has been re-
shipped. The June figures show with equal
these tendencies. The $50, 4O5,OO decrease
In value of imports compared with last
in exports. Not since October, 1907, has
the falling off in exports exceeded that in
Imports. The loss in export valuation dur
Ing the month Is traceable to manufac-
lures, the decrease in agricultural products
having been less than 10000 900 for the
month. The months exports were. in fact,
the SMALLEST since SeDtemheT. 1917. before
the financial panic started the rush of our
commodities to foreign markets, while the
month Of the present calendar year. 1t
may be accepted that these later changes
conditions in the international trade such
as has been going on in the domestic trade
situation. Additional testimony to this re
adjustment Is received daily in the finan-
cial district, that in the form OF published
interviews from prominent capitalists and
expressed In general terms receiving the
today, coming from the executive head of
the Amalgamated Copper company, i'm
piled 2 rather striking King exc exception I5h1og,, IN 1,o the
he expressed of conditions elsewhere. The
fact was seen in the early reactionary tone
Government disbursements have so far
offset the Withdrawals of government de-
posits from the banks that the net absorp-
amounts to only 81 296,oO0. The call money
market was unruffled by the payment to-
DAY OF 10 per cent or the SUBSCRIPTIONS 10
the Union Pacific bonds, calling for some
S2S, 100000. The time loan market. however,
was strong in tone. Receipts of currency
from the interior are on a small scale
and the decline OF the premium on New
York exchange at Chicago marks the shift
in the tide Of the currency market. The
days changes in stocks proved small for
the most part, with gains and losses mixed.
Bonds were steady. Total sales, par
value, s4.o5O,OOo. United States bonds were
unchanged on call.
Number Of sales ano leading Quotations