Omaha daily bee., 1909-01-06
NEW YORK STOCKS AND BONDS
Further Drop in Consolidated Gas
Weakens Entire List.
MONEY MARKET IS EASIER
Further Prosecution of Corporation
and Action of senate ON steel
Corporation Alarms Pro-
fesslonals.

NEW YORK, Jan. The professional
view OF the weakness which developed in
largely due to the sympathetic effect of
the collapse in Consolidated Gas, which
proceeded today only less violently than
ness in Consolidated Gas today, however,
was while the general list was making a
sturdy stand against the reaction and
was showing a degree of positive strength
in some quarters. The action of the mar
ket warranted the Implication hat the
support was in the interest of facilitating
a process Of liquidation and the pursuit of
this purpose had the later effect Of weak
ening the whole list. The unexpected ad-
verse decision in the Consolidated Gas
SUIT yesterday undoubtedly took the inter
ests committed on the long side unawares
and interfered with the plan OF conduct
OF their market campaign.
The consensus OF opinion has been strong
that the period of renewed ease in the
money market after the turn of the, year
activity and conduce to still higher prices
Tor. stocks. The money market is rapidly
and sensibly growing easier and other ex-
lacking, but so many speculative hold
ings of stocks apparently have been wait
ing for this opportunity to realize the
profits that the selling outweighs the de-
mand. The Consolidated Gas decision I'M
doubtedly has had a bad effect on the
speculative confidence engendered by the
assumption that governmental activities
were to move in future in favor of the cor
porations. The refusal of the supreme
NV hHNHA ANANAA = db~
peal to reopen the Standard Oil fine de-
clsion was industriously cited to offset the
effect OF the gas case, but its effect was
marred by the announcement of the at
torney generals office that the case would
De retired. The disappointment I'm the gas
SUIT has given rise to some timidity re-
garding the outcome of other suits in
which a favorable outcome has been as
suined with. effect in tho stock market.
rms Is notably the case regarding the suit
70 contest the Hepburn laws commodity
clause. This was seen in the suggestion
To-Day that congress might be ooked to to
annul this clause II 1t were upheld by the
supreme court. The uneRsiness over the
subject of government aggression upon
corporations was shown by the manner
IN which various incidents bearing on the
subject were dwelt upon. The adoption by
me United States senate Of a resolution
ealing Tor of an alleged opln-
ION by the attorney general sanctioning the
purchase or the Tennessee Coal a. Iron
company by the United States Steel corpor-
atlon was thus dwelt upon. So was a re-
port that q secret Investigation of meat
packing houses had been resumed. So was
the taking of oral testimony in the GOV.
rnment suit to dissolve the Harrima
raIroaq merger. The new phase taken nv
the Balkan question had a disturbing ef.
iect on Foreign markets and was reflected
to some extent here.
Bonds We're irregular. Total sales mar
value, S,Sl6,O00. United States bonds We're
unchanged on call. "eie
The Following were the closing ouota tions
on STOCKS and bonds;