Omaha daily bee., 1908-07-18
new YORK STOCKS AND BONDS
Wall Street Market Sinks Another
Degree in Dizziness.
SOME PROFIT TAKING SALES
slight Recession In Prices, However,
Has Eject of Cutting on Oner-
inEs-CIOse IL Irregular
aud Higher,

NEW YORK, July 1.-THE stock mar
ket sank another degree into dizziness to-
gay with somewhat ominous effect on
speculative sentiment at times. The usually
active list was much neglected and showed
evidence of selling to take profits. which
suggested an effective obstacle to further
advances In the price level. on any con-
Siderable recession OF prices, however, there
was a distinct subsistence of selling, the
supply of stocks dropping to nominal proc
portions and tire decline coming to a pause
IN spite of the light demand. This is the
feature of the market that has been most
marked during the whole Of the week and
constitutes It's underlying strength as well
as Keeps alive the conviction that influ-
entlal holders of securities maintain con-
tidence In the betterment of the values.
Meantime there were brought forward
into prominence today a number Of new
FEATURES OF strength, which served as a
sustaining influence on the whole list, al
though not as influential to that end as
some OF the more prominent stocks, which
were strong earlier in the week. One cause
or the contraction in the activity of the
speculation was the probable failure OF the
plan for a comprehensive advance in
freight rates by the reports Of the differ
ences OF opinion amongst representatives Of
different railroad systems at the confer
enoe IN this city 10 consider the subject. 1t
Is evident that the success OF any attempted
ADVANCE must depend on It's adoption by
all or the railroads concerned.
stimate of the weeks cur
rshcy movement give decisive evidence OF
the turning tide of the movement with the
interior. There has been a heavy increase
IN the shipments to the interior by the
banks, while this week receipts have been
c~orrespondinsly cut down. There seems to
pave been a net gain on balance in favor
OK this center still, but not so large but
that II will be Counterbal6nced by the sub
treasury's absorption from the banks, leav-
ing the cash item little changed from last
week. The falling off in current redemp-
ton of bank notes at the subtreasury is
another index of the decline in receipts
from the interior. New York exchange at
Chicago declined to l0c premium today,
compared with SOC premium per $1,000 a
official weather map showing plentiful rain
fall in the northwestern country, where
the great anxiety has existed for lack of
moisture. Note was taken of ar advance
in prices Of print cloths by a leading west
ern mercantile interest as a symptom OF a
reviving denan Not much attention was
paid, however, to these developments bear
Ing on the general situation. Rumors OF
special developments affecting individual
stocks or groups were more effective. The
railroads. 1t was sought to create an inn
preston that holdings acquired In these
properties during the recent extreme de
preston has brought new interests int. In
ing assurance of financial backing. The
rumors, however, nave been heard before
but without confirmation. Some of the
bonds as well as the stocks in the grour
lent rise in New York Gas stocks was I'm.
explained. The strength of the railwag
equipment stocks was based on reports oil
new orders from the railroads and also q
growth in repair work for these companies
Bonds were firm, some of the convert.
BILE issues advanced smartly in cimpanS
with their stocks. Total sales. par value
$4,S4s,0o0. United States bonds were un'
changed on call.
Number of sales ano leading quotation
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