Omaha daily bee., 1909-02-10
NEW YORK STOCKSAND BONDS
Market Lapses Into Apathetic Con-
dition After Trial to Lift Values.
VOLUME OF DEALINGS SMALL
DiscOuraRed Brokers See Nothing
But Profound Dizziness In linz
mediate Future-Bond Mar
ket IL Firm.

NEW YORK, Feb. 9.-The stock market
lapsed into apathetic conditions today az
ter a demonstration OF the futtltty OF at
tempts to extend the upward movement OF
yesterday. The demand from the shorts
left uncovered after the selling OF the enc
of last week was early exhausted anu
there was no further demand in signt.
Outside of the narrow professiopal circIe
Of operators, both the long ana the SLOT
side of the account seemed to be without
attraction.
Discouraged brokers see no chance of
anything but profound dizziness IN the I'M
mediate future of the market. Some OF the
factors which inspire this attitude OF the
speculation may pass away soon, but otheLs
threaten an indefinite continuance, al
though no certainty of their persisting eff
feet on speculative sentiment. There was
a good deal Of interest in the action OF the
California legislature on the bill TO seq
regate japanese children in the public
schools, regarding which no news was re
ceived from Sacramento during the stock
market session. A fact which detractS
from the influence which the sensational
passages concerning japanese relations
might otherwise have is the sustained
bonds, the upward movement Of which
was resumed today in foreign markets on
account of the favorable outlook for Jap
aneses finances, Appreciation in market
prices of these securities is not considered
compatible with any serious threat to the
maintenance of the friendly foreign rela-
tons of the Japanese government.
The action of the money market pre-
cluded any anxiety over the outlook in
Undt reid, Such as was suggested ny Ine
complexion of last Saturdays bank state
ment. The banks have completed the re-
payment of the January call for govern
ment deposits and the additional call for
$50, for February seems to cause no
uneasiness, as the running deficit In the
government revenues makes a prompt re-
turn OF funds to the channels of the cir
culation. The process of building up the re-
serves of the bank of England is showing
Its effect In relaxing the money situation
abroad. The London Statist advances the
| opinion that a trade revival IN the United
States will readily divert gold from Lon
don to New York, and gives that prospect
land authorities to build up their reserves.
Meantime stock market speculation Is
making no demands on New York money
supplies and commercial requirements are
very light. The favorable condition thus
presented for new bond issues continues
to be taken advantage of. There was dis
cussion of further new issues by the Mis-
souri, Pacific and Chicago. Burlington &
Quincy, while limitations that early ma
TURTLES of Rock Island notes might be
met with cash in the treasury of the com
pany had an influence on Rock Island
stocks. The quick tactics pursued by the
professional element was exemplified in
the prompt profit taking in Sloss-Sheffield
steel after the announcement of the in
crease in the. dividend rate. Some of yes
tionary also. Peoples Gas furnishing the
notable example. Reports of large orders
coming in. in spite of the halt in. general
trade, was the cause of the squirt in the
electrical industrials. One of the factors
counted as repressive was the progress of
the probing of the stock exchange meth
DDS by the White committee appointed by
Governor Hughes. Some of the reform pro-
Jects attributed to this commission or to
the governor are not received with as
%surance by the entire fraternity OF stock
operators. The days business repre-
sented the smallest total for several
months past.
Bonds were firm. Total sales, par value
100000. United States IS declined u, and
the IS registered Il Per cent ON call.
Number of sales anr principal quotations