Omaha daily bee., 1909-03-16
NEW YORK. STOCKS AND BONDS
Business Falls Another Degree in the
Scale of Idleness.
TRADERS AWAIT DEVELOPMENTS
Apprehension over Conditions In the
Balkans L. dde 90 Uncertainty
over Outcome of Revision
OF Tariff.

NEW YORK. March 15.-Busiuess in
stocks today fell another degree in the
congress had little effect in releasing the
market from its bonds. The delay I'm report
ing the tariff and in sending in the presi-
dents special message was the assigned
motive for the halt. Confidence is not great
that those events will end the season OF
dizziness in stocks. The changes In the
course of debate In the frame OF the tariff
as reported, the breaking of party lines In
the house, the differences between the two
houses of congress over its ultimate form
and the period Of delay in arriving at a
conclusion Of the subject offer too many
and too uncertain possibilities to encour-
age any immediate action based on opin-
ions OF the outcome. Such interest as
was taken in affairs was not expressed by
any active steps in the stock market. The
troubled European situation was respon-
sible for some of the heavy tone at the
outset. Selling orders were Executed for
foreign account in various internationally
listed stocks. with the result of carrying
them under the closing level Of Saturday
here. The great financial centers on the
continent show a spirit Of apprehension over
the outcome of the situation Ia the Balkans
that may not end until definite settlements
are embodied in international agreements.
This is taken into account as one of the
influences likely to keep affairs unset
tied. and which are operating to deaden the
speculation in stocks. Spectators in Read
ing had another disappointment in the alb
sence of a decision by the supreme court
in the commodities clause test case. The
strengthening effect of this postponement
on the stock is taken TO indicate that the
professional speculative element is count
ing still on a decision adverse to the rail-
roads. Prices of copper we're marked down
again. and quotations both Of bid and
asked prices falling a full quarter of a
cent per pound at the local metal exchange.
Reports from the trade were of increasing
unfavorable conditions in the pressure of
accommodations on the market and the un-
relieved caution of consumers in their hand
to mouth buying. Some special strength
in Consolidated Gas was accompanied by
reports Of a plan maturing to segregate
properties Of the company other than gas
producers and the disbursement of profits
from them separately to stockholders. Such
an arrangement might be presumed to be
intended to show the relatively low earn
ing power of gas sales with a view to a
new legal contest of the S0-cent gas law.
The free engagement of gold for shipment
to Argentina and the likelihood of its
being supplemented by further outgo to
London left the money market unruffled.
Demand for mercantile loans remains at
a low stage and the current stock market
shows no prospect of any such active de-
mand for funds as would alter the situa-
ton in the money market. Buying of bonds
has fallen off and left that department
dull in agreement with the stock market.
The days price movement 80 nearly bal
anced in their contrary courses that net
changes are trivial.
Bonds were irregular. Total sales, par
value, 81, 1900. United States bonds were
unchanged on call.
Number of sales and leading quotations
l m aAAnEa IA