Omaha daily bee., 1909-03-26
NEW YORK. STOCKS AND BONDS
Hating Tendency in Rise is Due to
Narrowness of Market.
Low. PRICED ISSUES SUPPORTED
Announcement thai Miners VIII Not
strike CaUses ResIisinG sales of
ResdinE-specuIRdve Under
tone Conadent.

NEW YORK. March B.-rhe hating
tendency in the rise OF prices today was
traceable to narrowness OF the market ana
to the perception of that fact by the pro
cautious about running out the movement
TO undue lengths. With stocks for sale
in sosnty supply, the professionals find
facility and at cost OF comparatively light
purchases. h difficulty arises when at
temptA are made to effect any real sales.
the actual demand being as meager as the
supplies offering. Attempting OF selling,
therefore, reveals a hollow condition of the
market and serves as a warning to be
careful about burdens. The back
ing and filling of prices today was due to
this technical condition of the market as
much as to any news bearing on values.
TIT efforts to support the market against
the resctionary tendency conferred on the
low priced railroad stocks and o~onspicu-
Gus advances were made In the group
under common control OF an interest con-
cerned in the most spectacular of the re-
cent railroad deals. The extension of these
deals IL rumored from time to time and
the return to the financial district after a
period of reported illness of the leading
figure in the control seemed to give occa-
sion for some of these movements. There
was a supplementary movement in the Erie
issues caused by the Interpretation OF the
official opinion Of the Public Service com
mission on the application for the bond
issue OF that company, which was read as
leaving a loophole for modifying the re-
auirement for consent to the plan of 30
per cent of the bondholders. The doubt
which has been felt whether so large a pro-
portion OF assents could be secured has
caused fears that the whole plan might
miscarry. Today's developments were ac-
cepted as promising a way for the carry
Ing out Of the plan. In Reading, the news
overnight confirmed yesterdays rumors.
that the anthracite miners representative
were moving towards q plan to avoid a
cessation of work on April I, even in the
event of a failure Of an agreement on
wages by that time. Reading, therefore,
was affected by profitItsking.
There were reports In circulation that an
other lull had come in the demand for
copper, indicating a temporary character
for the Improvement for the last few days
Toe views Of the accepted organs of the
steel and iron trades gave nothing to en-
courage enthusiasm over present condi-
tions. the demand induced by the cut in
prices being pronounced unimportant thus
far. Some of the buying of stocks Of the
last few days is reported to be due to con-
fidential of plans for the ulti-
mate shaping of the tariff bill, the nature
and source of which are disclosed only by
innuendo. Reports of steps towards fran
ing an income tax and of Intended admins
tration of the antitrust law were not OF
stimulating effect on the speculation. The
Balkans underwent another relief and that
and the easing money outlook made foreign
securities markets firm. The resistance
offered to the reaction by the local stock
market kept the speculative undertone con.
fident.
Bonds were easy. Total sales. par value
S,42S.0O0. United States bonds were un,
changed on call.
Number of sales and leading quotation,
I ~ MNAALa RuAS