Omaha daily bee., 1909-01-23
new YORK STOCKS and BONDS
Narrow Dimensions Of Market Again
Its Principal Feature.
UNITED STATES STEEL RISES
Railroad Issues Advance in SYM
observation-disclosures of Rus
sian Loan in Paris Tends to
Ease Money situation.

NEW YORK. Jan. 22.-The narrow d.
mehsions OF the stock market made It's
principal feature still today. She movement
In United states Steel attracted a good deal
o. attention, owing to the hopes that the
Usual strong sympathetic effect of this
STOCK on the action Of the general list
ket.
Yesterdays 2-point rise in United States
Steel did, in fact, have the effect Of bring
ing In some orders for the stock today.
the result being a spread in the price of
2 at the opening on an extreme advance OF
n: This carried 1t within a shade of So.
where 1t hesitated. owing to the very large
selllng orders awaiting II at that point.
Al % the first sale was of 10000 shares and
large sales followed. The preferred stock
also advanced to lis, which is a record
price, the previous record at 1l4Sk having
been made in November last. The sinking
tund bonds OF the corporation are ruling
also at about their highest price. There
was no definite news to account for this
movement. Assertions that some large
orders for steel rails were coming in from
the railroads were denied by officials of
INC corporation. The report that an agree
ment had been reached in congress TO limit
the amount Of the proposed reduction ON
steel was OF such a character as to be In
capable OF verification or of disproof. For
tnls reason, probably, the movement failed
70 awaken the customary response in the
general list. Some of the railroad eduip-
ment stocks which are largely consumers
OF steel products showed some sympathy.
Quite a varied list of Industrial special-
ties rose briskly on newly AXE actiy-
Ivy, Tor the most part unexplained by any
news. In the case of American Sugar the
rise was attributed to the application of
the company to have its shares admitted
on the regular list, a request which implies
the Intention to publish detailed informa-
ton OF earnings and financial conditions.
me requirements of the uncovered short
interests were supposed to figure in some
OF these sudden advances. The rise I'm
Natonal Lead was coincident with another
reduction in the price of copper and a
ueSiIne IN silver In the London market.
news that the Russian loan issue had
peen many times over-subscribed in paris
ana was ruling at a premium of . nor
ceht was followed by an easing of discount
~ ABROAD and a reduction in the price
oI eold IN London, which promised a re-
taxation Of the Paris demand on London
. goa; Inc fall in the London allotment
OF the Russian loan to a slight discount
nnu.cd'e1 some realizing there. The fore.
casIs OF the weeks currency movement
modltied the New York interest in the gold
mIovennent. Inc influx of currency is on
SO large a scale as to leave the nroblerr
= ne banks one OF finding employment
ioL tnelr resources rather than of conserv-
ing reserves. Although the banks have
mace some large aymen to the slIh,
treasury during the week on the return -,
H. shannieht deposits in compliance witt
ne cal! or the secretary of the treasury
me suotreasury operations as a whole bav,
contributed S3,S42, 900 to the banks Tho o.
cess or receipts over shipments of currenH,
ny ~ eApIess mas been so heavy that the cast
am promises to reach $40, 900, 900 or 1pwsrd
interior banks are said to be offerins
money In New York at concessions 70 thss
progress of business activity and prices o
n ,TSHs were inclined to yield after tn,
Pqolicauon of the cash estimates.
Bonds were steady. Total sales 49,.
value, $5,664,0o0. United States De- deo,p pa
ID per cent on call. ue'H"e'
on S9 s,ooe Of sales and principal quotation,