Omaha daily bee., 1909-03-17
NEW YORK STOCKS AND BONDS
Tone Of Market Improves, but Deal
ings Confined TO Few Issues.
TARIFF OUTLOOK is BETTER
Coarse of Events NJ washinEton
SCENE TO Promise Prompt Ac-
tiOn--CIose t. strong
and Active.

NEW YORK. March lb.-The Improved
Tone OF the stock market today did not
mean that there was any substantial
widening in the dimensions OF the market.
such activity as there was came in oc-
%casionsl spurts and Il was largely confined
to a few stocks. A favorable view was
taken OF the course OF events at Washing
ton as giving promise OF removal OF
obstacles in the way OF progress with the
tariff revision.
The financial element regards expedition
In the work Of fixing the new tariff
schedules as desirable above everything
else. The buying OF stocks on this account
was partly from the uncovered bear
element. which has looked for a bad effect
from the first publication OF the terms Of
me tariff bill. but which was timid about
waiting on the actual publication to act.
United States Steel was quite conspicuous
in the light Of buying stocks, that issue
having been a favorite medium for specu-
latlon based on suggestions OF the effect
OF the new tariff bill. The report from
Pittsburg of the resumption of dividends on
Ciucible steel preferred after an interval
or suspensions dating back over a year
had some sentimental effect on the steel
industrfals. Reports OF additional COM
panies In the trade cutting wages were not
a detriment to the stock. A~malgamated
Copper shared quite fully in the strength
OF United States Steel and was not hurt
apparently by another reduction in copper
prices here and in London, Price reduc-
tons both in copper and steel must bring
the level ultimately to a point where COLI
sumers will abandon their abstention and
DeBln 10 DuN. Lately tnere Is growing up
a disposition to look upon successive price
cuts as steps toward this end.
The February foreign trade statement
was a remarkable one. both by reason Of
the heavy shrinkage in value OF exports
and of the increase In imports. reaching
S4l. ~. 600 in the former case and $50, $50, 900
In the latter. compared with the year be-
fore. over $4,000 900 OF the decline in
agricultural exports was due to the
check of the high prices prevailing to the
foreign demand. OF the growth of imports
there can be no doubts of its significance
as showing the revival of purchasing
power in the country. The effect on the
merchandise balance in bringing the ex-
cess value of exports down 10 S7.4O0, 391,
compared with over $50, 000,0o0 for February
OF last year, clearly explains the outward
current of the gold movement. This is
expected by international bankers to reach
large proportion. The stiffening OF the
money rate Is not lost sight of In this con-
nection and is an influence in the
much firmer tone which has developed In
the bond market. Reports that a further
issue of Atchison bonds was imminent had
some weakening effect on existing affairs
In that regard. Reports of more mining
OF anthracite in preparation for a possible
strike seemed to appeal favorably TO
buyers of Reading. Union Pacific held its
usual leadership In the movement OF rail-
road stocks. The market at the close was
the strongest and most active of the day.
Bonds were irregular. Total sales, par
value, 2,530,O00 United States bonds were
unchanged on call.
Number OF sales and leading quotations
] IN aHAalE NJ