Omaha daily bee., 1908-10-22
NEW YORK BONDS
Aggressive Operations to Lift Values
Are Continued Successfully.
DUE TO POLITICAL CONDITIONS
Professional Traders BeRiu Buying
stocks TO Meet Demand EX-
peeted Immediately After
the Election.

NEW YORK. oct. I.--The agsresssve
operations to litt prices OF stocks Whlch
tinued theoretically today, with no strk-
ing news development as a basis for the
movement. The number OF shares trans
ferred had risen by noon to a total as
large as the aggregate for the whole day
yesterday. The number Of different issues
traded IN was a long one ard included
many Issues Of the active for long periods.
The great congestion Of activity In a few
favorite speculative stocks continued, how
ever, a distinguishing feature of the deal
lngs. This was especially true OF the Two
Hartman Pacifics, and St. Paul came INTO
close sympathy with them. Reading held ITS
usual prominent place ard the i'm stocks,
the copper industrials and United states
Steel being added. the Overwhelming pre-
ponderanCe of all the transactions for the
day would be accounted for.
Some Of the rumors in circulation 10 ac-
count for the days advances had to do
with individual properties, but the main
stay Of the speculation was the rather
mysterious illusions to important develop
ments In the political field, which we're
regarded as releasing the speculation from
some of the bonds Of uncertainty which
have held II: The expression is quite uni
versal in Wall street Of the feeling that
promptly with the passing OF the elections
there is to be an outburst Of public demand
for securities for investment and for
speculation. 1t is the expectation of this
demand which prompts the professional
demand for stocks at the present time.
That reliance will be placed on this eX-
pocted demand to absorb a considerable
volume or profit-taking sales Is safe to
eager expectancy felt in the financial dis
trict is Indicated by the general intention
amongst brokerage houses to have their
offices open on the right of the election
and into the following morning. Publica-
ton of the election returns will be pro-
Elded, but the primary intentions is to at
ford facilities for early action in the mar
BET by cabling orders to the London mar
ket # necessary before business has begun
in New York. 1t was this eager spirit re-
/ harding tho effects 10 fO11nU the p1ppfipr
mat was especially appealed to in the
speculation today. The most important
largely, and, in fact, concentrated opera.
tons were the rule both on the buVina
and the selling side. Some OF these were
attributed to Important banking and inside
interests in the various properties, the in.
ference being drawn. however, from No
more substantial evidence than the person.
allty or brokers executing the orders.
Yesterdays reports persisted concerning
Southern Pacific and Northern Pacific, Of
the Intended retirement OF the preferred
stock in the case of the former, and of &
projected extra dividend disbursement n
the case of the latter. The st. Paul move
inent was accompanied by talk of the larg.
profits to accrue from the early operation
OF It's Pacific coast extension. IT wa,
common remark on the floor of the Stool
mat Is, are held by interests that can with
mold them from sale except on profitable
terms, and that consequently prices can b.
easily advanced when favorable condition
arise. They were, in fact, easily advance,
Today ard quite firmly held without effec
from the prefit-taking sales invited by tn
rise, except for Northern Pacific.
The day passed without any engagement
OF gold for export, the continued large de
msnd Tor exchange apparently to pay of
New York revenue warrants in iondor
oelns supplied. Call money rates droppe
back to j per cent during the day, in spit
OF the more active speculation, but tim
money rates continued to hold at the highe
levels recently established.
BONDS were firm. Total sales, par value
S,4p,OO. United States bonds were un
changed on call.
Following were the sales and range c