Omaha daily bee., 1909-05-20
NEW YORK STOCKS AND BONDS
Sudden Death of H. H. Rogers Has
Little Effect on the Market.
POWER OF RESISTANCE IS STRONG
Anxiety that specuIators' Position f.
Unstable and Vulnerable f.
Proven without Founda-
tton.

NEW YORK. May 1.-THE stock market
has rarely met the death of a capitalist OF
foremost prominence with so little disturb
ance as was caused by the sudden death
Of II. II. Rogers today. II was concluded.
from this, that there was little ground for
the anxiety professed for several days past
mat the speculative position had become
unstable and vulnerable. From passive re-
slstance to depression. the tone passed to
positive strength The demonstration Of
resisting rover could not well have had
otner consequence, since the fear of over
speculation and a top-heavy onditiOn of
values which might lead to r violent re-
,s n N case OF accident had been. the
soie uhfaVorable factor which could be
pointed out in the situation.
fTlees have suffered more serious set
Sscks often on rumors Of Mr.. Rogers
9eath or serious illness than happened to
1ay Following his death. Mr. Rogers
mas represted 10 the Wall street sup
POSITION, as much as any one man,
defined standard OH group which is the
most potent Of ell the dimly apprehended
forces which work concealed from view and
supposedly armed with the most complete
knowledge. OF conditions and control over
their regulation. The sudden removal Of
such a force may have disastrous conse-
qaences to a speculative position. as in
the ease Of the sudden death of ex-Cov-
ernor Flower In the crisis of an excessive
specnlation IN which he had been the con-
trolling figure, Even where there is known
20 pc no heavy speculative commitments
In the stock market. decided depression is
sometimes caused by the death OF a man
or the vast property interests and admits
trative activity of Mr.. Rogers.
The extreme effect today was measured
by a decline of 1s in the price OF shares
on Anaigameted Copper. OF which company
Gas and ! in st. Paul, In which he was n
9irector., The reason for this imperturb-
Dllty quickly be came to he understood in
me general withdrawal of Mr.. Rogers from
STOCK exchange operations of late years
IIs Snsrossment with his net project of
the virginia railway diverted all his at
tenIlon. furthermore IL was believed that
ne state. OF his health since an attack in
1877, had induced his retirement from
many FORMER activities and the placing
the event Of today
The impression of the strong underlying
condition, Of the stock market position was
not the less strong on account Of these
explanations OF the resistance shown Fac
tors OF announcement in the outlook which
have been in allegiance for several DAYS
came into play again. United States Steel.
OF which Mr.. Rogers was a director. was
conspicuously strong. rising through rs
previous record price OF 5S% to 59%. Chnsa-
pcaka & Ohio at 50 also touched a price
never reached by that stock. The
movement in steel was attributed IN the
restoration of wages by the independent
steel companies and the differences drawn
from that action as to the returning profits
or the Industry, even at the lower prices
at which the recent heavy orders have been
booked. News from the copper trade con-
tinued very encouraging and a buoyant rise
In copper was in progress in the London
market, when the decline In ~Amalgamated
Copper on account of the death Of the
president Of the company checked the ad-
vance.
Crop news was considered favorable in
spite of the rise in the price of wheat.
Tn further outgo OF gold to France had
no influence. Currency continues TO arrive
In such volume from the interior as to
serve as an effective offset. The con-
troler's Abstract of national hank reports
for April 2S shows an expansion OF up
wards OF sl22, 900. coo In loans since the date
OF the last reports on February 8. while
the comparison with May. IA last wear
shows a growth in banking credits Of Si3t /,
100000. This showing for a period when
the use of credits for mercantile purposes
was sluggish reveals. the extent to- which
securities have been absorbedSby the banks,
such holdings being included in the loan
| account.
Bonds were irregular. Total sales, par
value, A,772.0O. United States bonds were
unchanged on call.
Number OF sales and leading quotations
- AAAAlNA