Omaha daily bee., 1909-01-16
new YORK STOCKS and BONDS
Market COnsiNts Largely Of DesultOry
Trading by Professionals.
RISES DUE TO SPECIAL CAUSES
in Number of Issues Have
Sympathetic EHect on General
List-MetaI Industrials
Heavy.

NEW YORK, IAN. 15-Desultory trading
by professional operators made up a great
part of the stock market today which did
not differ much In that respect from pre-
vlous days this week. The professional
traders talked much OF the size OF the
short interest In the market and a belief
In its unwieldy proportions had as much
to do with the caution OF the bear element
and the firm tendency as did any happen
ing of favorable purport to values.
The rise in price Of a number OF indi-
and their strength had some sympathetic
effect in sustaining other stocks. Very cir
cumstantial reports were current of the
Intention TO incorporate the Wisconsin Cen
rise in the seaboard bituminous coal car
riers was the effect Of the great improve
ment Of earnings disclosed by the Balti-
more & Ohio for the last half OF the last
calendar year disclosed by yesterdays
semi-annual report. Brooklyn Transit once
again responded TO a rumor that an initial
dividend was to be declared ON the stock.
The movement Of the general list was Ian
guild and Indifferent in spite of the wide
movements In these special stocks. The
demand was sufficiently aggressive to
promise an effective upward movement, and
the dependence on the uncovered short In
terest In the estimates of an advance In
the price OF print cloths was welcomed as
a possible index of some commercial i'm
provement, but this was rather more than
offset by another recession in the price
of copper at the New York Metal exchange.
STOCKS or copper are SAID 10 pc aCCumu-
lating. The metal industrials, in conse-
quence, were rather heavy, including United
States Steel, and did not share in the occa-
sional upward movement Of prices.
A feature OF the days money market was
the reported lending of a round amount for
thirty days at IL per cent, a rate consid-
erably below the prevailing call loan rate,
and arguing the expectation, therefore. OF
lower money rates. The stimate OF the
weeks currency movement show that cash
Is continuing to flow to the New York
banks In large amounts. The S., 763, 900 aC-
erection from the subtreasury operations
has been equally apparent by the receipts
on balance on the interior movement by ex-
press and the weeks gold exports have not
required more than half this gross gain,
New York ~Nchange at Chicago continues
to advance and bank note currency con-
tinues to flow back to the sources of issue,
The financial world as a whole awaits with
much interest the effects to follow the
issue of the Russian loan in Paris next
week. The Paris demand for gold continues
up to the present, sterling exchange falling
and the discount rate advancing there to-
day In spite of the action of Bank of Eng,
land in advancing the official discount rate
yesterday. There is an undercurrent Of un.
easiness In the financial world lest the
Russian loan issue shall not put an END
to this policy of accumulation on the part
of the French bank, in which event It will
be concluded that some Interior motive eX-
lists which may preclude a political u~pheava
in this market today exceeded the pur ha 'e'
and London was able to command the
shipment of $25O,O0 in gold from New
York to South America.
Bonds were firm. Total sales. par value,
81, 242, 90 United states rs, registered, de-
clined u per cent on call.
This following were the closing quotation;
on stocks and bonds.