Omaha daily bee., 1908-05-13
NEW YORK STOCKS AND BONDS
Market is Sharply ReastiOnary at One
Period Of Session.
BEAR PARTY LOSES CONTROL
when Prices start Upward Buying TO
Cover short Contracts Ala ReeOv-
ery-Market Again Reacts
ana Close r. weak.

NEW YORK. May 1.-THE stock market
was rather Sharply reacoonary at one
period today and the wstchful professional
element thought u was Witnessing the
often expected elimination OF the upward
movement. The effective control of the
market which has been in evidence for
many days past Was once more reassertel
and when this was perceived the bear
party once more retrested by buying 10
as they have done so Often recently. The
market relaxed again later in the day.
Some pressure was exercised on the
market from foreign sources, sales Tor
foreign account by arbitraEe houses being
% large scale early In the day. IL vas
after London had ceased trading for the
day that the raliying tendency became
effective. Realizing sales for London ac-
count had TO do rather with the maxim 8
W 9f accounts fSr a regular foTtniShIIy !i.!
than with any news affecting the proper
ties sold or American affairs in general
however 10 rumors that he Ro,hschiids
would refrain from participation In the
Forthcoming Union Pacific bond flotation,
although they Joined with Kuhn. loeb &
Co. in underwriting the recent Pennsyi-
yania bond issue. The Union Pacific bond
issue is the most important event from a
rumof Of a hitch in the transaction re-
eeived little attention here, as the belief
is held that the flotation Is practically
arranged already. Conditions moved
it is now considered probable that a con-
Q
though discounts declined in London and
Berlin today. The sterling exchange rate
al Paris, however declined and with q
further advance in sterling exchange here,
there is said 70 be considerable margin
Of profit on shipments Of gold 10 Paris
from here for London account
The money market was quite unruffled
BY this development and lenders find
themselves still in the position OF push
ing their offerings in face Of a slight de-
mand Treasury figures show that the
I banks have repaid not only the tustallment
Of government deposits called for May q
but also part Of that called for May %,
thus indicating the sense OF reple lion OF
money. The t20.3Z5,il7 decline in value OF
April agricultural exports compared with
April last year makes another influences
stocks formed the method of supporting
the market against the forces of dePres-
sion The copper industrials were made
strong in face Of the reduction in Quincy
ter. successive reductions from the S450
rate paid for the first two quarters last
year. A rise in Southern railway had some
/ effect on lOwpriced nondiTidend paying
stocks in spite Of Erie's report of de-
quarter of the year of t1.s25745. The
damaging report Of the receiver Of the
Third Avenue hurt all the fractions
The weather bureaus weekly bulletin re-
ported unseasonably cold and untaVor-
able weather for the last week. but south
western grangerE were q distinct point Of
strength. Possible reduction In prices OF
steel products was again bruited. Prices
yielded again after recovery and the mar
Bonds were Irregular Total sales. par
value $3.50 900. United States bonds
were irregular. Total sales, par value
ts.sbo coo. United States bonds were un-
changed on call
Following were the sales and range Of
prices on the Stock exchange today: