Omaha daily bee., 1909-03-09
NEW YORK STOCKS AND BONDS
Market Generally Stagnant Because Of
Impending Tariff Revision.
NEWS Is OF LITTLE EFFECT
Roads Trsver,iRE Missouri Advance
sughtIy Because Decision InvaIi-
dating RaiIway Rate Laws
Bonds Are IrreEaIsr.

NEW YORK. March S-The stock mar
ket today justified the prophets OF a period
the clearing up OF some Of the obscurities
in the situation. One or two Incidents OF
the day we're tried as motive forces for
moving prices. but they proved OF little
the different degrees OF responsibility for
the halt In the speculative stock market.
but the principal matter. n is generally
thought. is the framing Of the new tariff
bib and the release to new plans in bust
ness which that framing lie expected 70
effect. The experience in the iron and
steel trade following the cut in prices BY
the principal interests lie considered a dem
onstration that business must wait on the
The sealing down OF prices OF stock
products fails to revive the demand in any
effective fashion owing TO the remaining
uncertainty Of the new duties. Reports
from washington bearing on the probable
rates TO be fixed in different schedules are
followed with attention. but with vague
comprehension by the operators In stocks.
owing to the complications of the differ
ent views in the dominant party in the
house. the probability OF important mod
ificadions of the house bin in the senate
influence which may be used from the
White House toward the completion OF the
task. Great confidence is heard expressed
In nnancia circles in the prospective fu-
ture of business. The bond market Is be-
ginning to present a similar situation. the
rate OF activity there showing a notable
NN-N NN -
heavy loan expansion OF the banks az this
time. in spite OF the desultory demands Of
business is accounted for by the large hold
ings OF new bond issues by banks all over
the country. What the effect may be on
the bond market when any effective de-
mand for money shall spring up is a sub
jet OF some solicitude. A considerable
liquidation Of bank holdings OF such bonds
would be an implied Consequence. Some
Influence In the stagnation must be al
lowed to the activities Of the Hughes com
mission appointed to investigate exchange
methods. Tn attention reported to be
given at recent sfttings Of this commits
sion to questions Of stock market manip-
ulations and wash sales has an effect OF
ment on the part OF pools and market or
ganizations. The recurrence of the su-
preme courts decision today was reflected
In the attention. given to Reading by the
stock during the morning gave place 10
recovery when IL became known that no
decision on the commodities clause was TO
be handed down today. The decision
against the Missouri 2-cent rate law by
the United States circuit court was a favor
able influence or stocks OF railroads trav-
ersing that state. for the MANAGEMENT OF
which the overthrow Of this law is un-
doubleday a matter OF Importance. The
shares of the Gould stocks in this benefit
was increased by published reports Of a
traffic arrangement between the Wabash
and the Union Pacific. The government
on March was remarkable for the close
approximation OF the figures TO those for
the same date last year. The effect, Joined
10 news OF Favorable weather conditions
market. Gold exports in South America
and TO London are looked for this week.
but money rates here were unaffected.
Bonds were irregular. Total sales. par
value. 100000. United States bonds were
unchanged on call.
Number Of sales and leading quotations