Omaha daily bee., 1908-11-07
NEW YORK STOCKS AND BONDS
Speculative Movement Enters q New
and Broader Phase.
GENERAL ADVANCE IN VALUES
Outside Demand Grows aud Profess
SIGNALS Employ Usual Devices to
Lift Prices-VoIume of
Dealings narge.

NEW YORK. Nov. 6-The speculative
movement In stocks entered on a new and
broader phase today In the entry into the
widely scattered sources. The alert leaders
of the speculation were prompt to perceive
this development and to take advantage of
It by manipulative devices to help on the
advances in prices. Tn advance was, in
itself, an attraction to the somewhat eX-
cited operations of the new participants,
who were apparently of the class that
would have Withdrawn or waited IL prices
had moved downward instead OF upwards.
The prospects of danger contained in this
kline OF movement are perfectly well rec
ognized by the practiced professional OPP
orators in stocks and this class today was
attentive for signs of reaction in the mar
ket and prompt to digest profits frequently
in the course of the rise.
The buying orders today through COM
mission houses we're on a much enlarged
scale and they seemed to come from widely
separated sources, although for the most
part from the speculative oenters. Boston
was much impressed with the promise OF
the copper industry and. together WIN
large blocks of stock in that group sent ex-
ing of copper and the rapid advance IN tne
price of that metal which was In sympathy;
Philadelphia and Pittsburg, as usual, pald
close attention to developments In the iron
and steel trade and the heavy orders LOT
United States steel, for the shares 81 me
minor stocks, and for their equipment COM
panies and electrical equipment com
panies correspondingly interested, were az
tributed to those sources to an important
houses represented a clientage even more
scattered throughout the west ana sou'h-
west.
Operations for foreign account were
mixed, but influences from that side were o.
cheerful effect on the speculation. lne
speculation was dominated still by the con-
siderations springing from the passing Oh
the elections. Several incidents served as
a supplement to this. A notable influence
was attributed to the remarks OF Judge
Taft to the Commercial club OF Cincinnati
in the assurances OF non-interference from
the federal government with all business
and corporate enterprise that observe the
law, although this assurance was coupled
with in ssive admonition of an ENFORCE
m mt OF this I WIS against dishonest m5tnods:
wall st.,v. FASTENED to arrogate to itself
a promise OF Exemption in these words.
The incoming rush of orders for STOCKS was
regarded confidently as a herald of com
ing developments in the industries Oh the
country.
Yesterdays extra dividend declaration on
Northern Pacific had it's consequences In re-
vived rumors of other intended distribu-
tlons, which were without any confirmation.
Today's squirt to 1,534.0O shares shows the
largest such sharp expansion that has oc-
Cured on rising quotations since the days
of the abortive speculation on the Increase
in the Hartman dividends. The markets
furious activity was maintained to the last
and prices were still forging upwards, al
though with some effect from realizing
sales at certain points. The days move
Amalgamated Copper, New York Central,
Louisville & Nashville and Atlantic Coast
Line, 3 for United States Steel and Union
Pacific, So for Great Northern ore %certifi-
Gates and 10 in Lackawanna.
Bonds were strong and active. Total sales,
par value, S,612,0O0 United States bonds
were unchanged on call.
Number of sales and leading quotations