Omaha daily bee., 1909-09-30
NEW YORK STOCKS AND BONDS
Rush to Buy at Opening Sends Prices
Up Sharply.
STEEL AND ATCH1sON IN LEAD
Rise Of Former Above Ninety In
London Induces Realizing sales
Volume OF Business
Large.

NEW YORK, sept. 29.-The stock specu-
latiou started at a gallop today. but the
strain Of the pace became obvious at a very
early period Of the days trading. The
rush to buy and bid up prices made an
excited opening, which spread prices OF the
speculative favorites on simultaneous
transactions which reached as much as
1000 shares In United states Steel and
1000 shares in Atchisou. There were wide
options also in other stocks at the top
prices then made represented the highest
record In some instances. This was true
Of United States Steel and AtChison and
Chesapeake e Ohio topped at previous
prices In the Course OF the day. The high
option Of Slsc In United states Steel had
been exceeded earlier in the day in the
London market, where the stock sold at
the New York equivalent OF 9O9sc. The
realizing sales which that price induced in
London were continued In New York on a
scale downward, and after the first half
hour this influential stock sold for the
most part below last nights price.
The first hours business saw an enor-
nous pressure OF realizing sales In all
quarters Of the list, and a pause to take
breath was a necessary preliminary to a
fresh start. There were many conspicuous
points of strength in the later market, but
it never regained its uniform upward ten
denCy again. While a few stocks were
aggressivily advanced, the rest OF the list
held back and in some quarters there were
signs Of positive depression. Erie and the
Wabash securities were two prominent eN-
amples. The bond of sympathy between
those two stocks Is supposed to, be the
hopes Tor the increased p|fOuuClNllN
Of the properties that were founded
on the interest manifested in them
by the late r.. II. Hartman. The present
weakness OF the securities Is traceable to a
fear that Mr.. Harriman's plans for their
benefit may not be carried out. United
States Steel. Pennsylvania, Southern Pa
cifiC and others were Influenced by this
factor today and each exercised an In
fluence on other stocks in which circum-
stances are analogous. The assumptions
Of dividens on the Westinghouse Electric
preferred stock today, after being sus-
pended since 1907, was the only Tangible
development in the direction Of increased
disbursement of profits. .
The call money market remained tranquil
in spite Of the forces of depletion OF cash
at work and the time money market was
notably easier I'm tone. The banks reports
that large currency shipments continue to
the south and southwest and the subtreas-
ury's subtraction Of cash from the banks
for the week rose today to A7l4,OO. Dis
count rates in foreign money markets were
firm again today. The pressure or the
selling to realize increased as the day
proceeded and made the support or prices
increasingly difficult. The closing tone
was much unsettled. The number or shares
sold was the largest since the excited mar
kets in April in connection with the re
ported listing Of United States Steel on the
Paris Bourse.
Bonds were irregular. Total sales, par
value, 81, 3S7, 900.
United States bonds were unchanged on
call.
on stocks today were as follows: