Omaha daily bee., 1909-05-01
NEW YORK STOCKS AND BONDS
Market is Dull and Inactive Because
Of Wire Trouble in West.
PRICES ARE GENERALLY FIRM
Union Pacific, eadin and southern
Railway Higher Because of, News
AHeetinR These Compnnies-
Bonds Are Irregular.

NEW YORK. April 30-The stock market
today was a dun affair and little impress
sion was made on prices by any OF the
events which came into consideration The
excessive dizziness was partly due to the
interruption OF communication with the
western part of the country by the storm.
Few orders were received from outside
sources and news Of conditions in the storm
area were scanty. Weather conditions were
considered unpropitious for crops and the
further rise In the price of wheat was an
other index of this view. The delay in
seeding of spring wheat by reason of the
late spring was as much dwelt on as the
condition Of the winter wheat crop. The
postponement If cotton seed planting also
came into view.
The tone of the stock market, although
intensely dull, was not weakened by the
small participation. Prices were held up
to some extent by the sympathetic effect
OF the strength In special stocks. Union Pa
cific was supported and its recovery from
yesterdays decline had much to do in
allaying the apprehension regarding the
speculative position which was caused by
that decline. Reading had the benefit of
the signing Of the agreement over the wage
scale with the anthracite miners and Of the
good showing OF earnings for March re-
ported by the company. The Southern rail-
way stocks responded to the news of the
sale Of further development bonds by the
company and falling of the company's
notes maturing in 1911 for payment on No
vember l next. Western Union was affected
by rumors of a combination of telegraph
and telephone companies. II was such spe-
tlhl movements as these tlat made up
the market and the Individual causes re-
sponsible had no bearing on the general
conditions applying to securities as a body.
Some relief was felt at the quiet manner
In which the London market accepted the
British budget statement. as the proposals
are considered to bear heavily on property
interests not only by the direct burdens
socialistic principles contained in the pro-
gram. There was an undertone OF anxiety
also as to the situation in Paris, where
AnDTOAnh nf Nav AnN hnE haap nrnantgI
with some dread. owing TO the fear of
labor demonstrations and a possible gen
eral strike to signalize the power Of the
labor organizations. The placid tone OF
the markets both at London and, Paris
mad the effect OF abating anxiety on these
points, but some repressive effect on spec
the money market position i'm New York.
last day of the month and Friday
offer a double occasion for the extra de
mands of the money market. 1t was not
until late in the day, however. that any
impression was made on the call loan rate
by the preparations for the May 1 pay
ments and for carrying over stock market
accounts until Monday next. The harden
ing of the money market early in the week
has had the effect of attracting funds to
New York Com the interior as shown by
the rise in the premium on New York ex-
change in Chicago from 10 to % cents yes
terdav and 30 cents today per $1,000. The
Interior movement during the week have
exceeded the shipments to the amount. il
Is believed, Of nearly $4,000, 900. The sub
treasury operations, however, have taken
N,6S,OO from the banks during the week,
this amount including the 5000, 600 shipped
70 France and a payment of 81, 900, 600 by
the American Sugar Refining company on
account OF. its settlements with the gov
eminent of the fraud case in course OF
prosecution. The currency movement,
therefore, promises a small decline in cash
holdings of the banks. The call loan
touched 3 per cent. duplicating the high
rate of last Friday and of the first week
in January of this year.
Bonds were irregular. Total sales. mar
value, IS, 10000. United States bonds were
unchanged on call.
Number of sales and leading quotations