Omaha daily bee., 1909-01-20
NEW YORK STOCKS AND BONDS
Market is Dull and Neglected
Throughout the Session.
SLIGHT RISE IN VALUES
Floating supply of stocks IL Small
and Light Buying Orders Has
Marked Tendency TO
Lift Prices.

NEW YORK. Jan. 1a.-The stock market
today fell into a neglect 30 profound as to
resemble stagnaton. Tho professional
traders on the floor Of the stock exchange
apparently had the market to themselves
ana their efforts to move prices met with
50 little success that they practically
abandoned them and left the market in its
dull and uninteresting state the latter part
Of the session.
The technical position Of the market was
called good in that the floating supply of
stocks seemed to be small and com
paratively light, buying orders brought
marked results in the price movement:
encouragement to the pursuit of any
extensive operations. There were excep-
tons In separate stocks, mostly Of the class
OF smaller railroad systems. Conjecture
continued busy with the possible disposition
OF these systems in the process Of con-
solidations indicated by the cases Of the
Central. The Kansas City Southern was
pointed to as a projected link in the Harrt-
Chesapeake & Ohio was indicated as en-
gagged In consolidating its own system by
purchase OF a controlled link and was
favorably affected. The superstition, that
+. II. Hartman is to assume closer rela-
tons to the New York Central continues
strong in speculative quarters and that
element looks for developments In that
direction at tomorrow's meeting of di-
%rectors.
Some strengthening Influence of a more
kind was due to reports OF an
intended movement among the insurance
companies to secure a modification OF the
law calling for the sale of stockholdings
in the treasures OF these companies within
a stated period. This possible liquidation
has hung over the market for two years
past with depressing effect on a number of
RAILROAD stocks. One Influence of repression
on the speculation especially in foreign
markets Is the attitude Of waiting on the
Russian loan issue in Paris on Friday. The
pressure for gold at Paris relaxed slightly
today and sterling exchange advanced
sharply there with, q corresponding re-
taxation IN the private discount rate in
gold here for shipment 70 South America,
but none of for transatlantic points. Tina,
London will draw some gold IN the next
few weeks Is a general expectation. A
steadving effect on The local money market
Is beginning to be apparent. but the high
premium ar which New York exchange
rules Mt Chicago indicates the ready
response OF the interior to an opening In
New York for placing funds. Chicago
banks are reported to be seeking bonds as
in the loan market. Successive Issues OF
cQrnorstion bonds to bankers make the
distinctive feature of the present situation
A further Weld In the price of conner meta
tho conner i1dustrials, which were inclined
to rallv. The excellent showing of net
earnings for December Of tho Baltimore &
Ohio helped the seaboard soft coal carriers
Holders If the Tnterboroush-Metropolitar
stocks found small consolation In a re
norted irtimation from the president o.
q probable assessment to take care Of tn,
companv's equity in the metropolitan
street railway. The VARYING fluctuationl
left prices, as a rule. little higher at tn,
end Of the day.
Ponds were steady. Total sales, pa
value, s5 1000. United States as, coupon
declined u per cent on call.
Number Of sales snd principal quotation
- No. VI