Omaha daily bee., 1908-09-09
NEW YORK STOCKS AND BONDS
Aggressive Strength of Harrimans is
Sustaining Factor in Market.
UNITED STATES STEEL HIGHER
Dealings Confined Largely 60 Harri-
mans, Although Hills, Erie and
Baltimore & Ohio Rise
Slightly.

NEW YORK. Sept. S-Undisturbed Ease
in the money market and aggressive
strength In the Hartman stocks were the
sustaining influence in todays STOCK mar
ket. The influence was moderate IN us eI-
feet, an overwhelming proportion OF tne
themselves or In stocks in some way arr
LATED with that name. Cnited states
steel was the only addition OF first class
Importance to that list. Dealings elsewhere
were dull and the price movement mar
row.
pronounced sympathetic effect, even IN the
groups In which similarity of conditlons
would place them. In the transsconune IN
tai group there was an early advance IN
the Hill stocks. but even this was ascribed
10 the assurances offered by MI, Hartman
reported with the interviews with MN nat
mutually helpful intentions now ruled be-
tween the two controlling railroad powers
thus represented. Atchison & st, PAU,
usually in close sympathy with the group,
were comparatively neglected; In the
trunk line group the same PECULIARLY was
manifest. The rise In Erie and Bsitl-
more Il Ohio was frankly attributed TO the
Hartman dominance in those properties,
and other stocks in the trunk line group
we're sluggish and DUH. The coalers, ,Whlch
are affiliated with these two stocks in an
other connection, were equally Indifferent,
the activity in Reading being al some eA-
pense to its price. PennsyIvanls ahq rev
Central was strong without the usual re.
spouse in other trunk lines Atlantic Coast
Line was, in fact, sharply depressed,
Louisville & Nashville moved narrowly and
there were only a few isolated transact
tions In Norfolk & Western ana southern
railway. The immediate new development
affecting the Harrimans was the confident
and cheerful tone voiced by the nead OF
the system in public outgiyings on his way
home from his vacation. lntimatlons that
Southern Pacific had some financing, In
prospect seemed to be OF as good effect
on that stock as was the assertion that
Union Pacifc's needs had been supplied
in its effect on that. Material develop
ments affecting values Of securities were
lacking after the lapse Of three days since
the preceding dealings on the STOCK eN-
change.
The decline in the surplus reserve of the
banks, shown by the Saturday bank state
ment, was not considered important, in
view of the large proportion OF reserves
still held. New York exchange at Chicago
today was reported at 40 cents premium
per $1,000, which is sufficient to influence
shipments of currency to this center. The
hardening of foreign money markets was
without apparent Influence on our money
market. London buying of stocks was said
to play a part in the strength OF some of
the low priced railroad stocks. The
strength in the exchange market, however,
Is attributed by exchange experts TO re-
mittanCes for American securities sold by
foreigners on account of firmer money
rates abroad. The government report on
conditions of the grain crops was not liked.
Thu condition figure for corn was not &C
cepted as threatening any disastrous out
come of that crop, but a revision of earlier
and more hopeful views was impressed as
a necessity. The spring wheat figures
helped the chilling effect on speculative
confidence. American Locomotive suf-
fered from fears of a coming reduction in
dividend and American Smelling from dis
trust, aroused by a resumption of adver-
tised tips to buy the stock.
Bonds were irregular. Total sales, par
value, 81, Al. 1000. United States bonds were
unchanged on call,
Number OF sales and leading quotations