Omaha daily bee., 1909-01-15
NEW YORK STOCKS AND BONDS
Price Movement Is Uncertain and
Volume Of Business Small.
MORE HARTMAN RUMORs AFLoAT
Report that Union Pacific MaEnat,
IL to Become Chairman of
New York entraI Executive
Board IL Not Confirmed.

NEW YORK, Jan. 1.-THE uncertain price
movement in todsy's stock market was
much the same as for several days past,
but the marked subsistence OF activity was
q distinguishing feature. The number OF
disciplinary measures adopted by the board
OF governors lately. to which was added an
expulsion today, operates to curtail some
kind of activity in the market, but it is
doubted whether operations of the kind
aimed at make up a large proportion Of
the dealings from day to day. The moral
effect of these measures, however, is to
discourage manipulative and fictitious
transactions, which are with a view solely
10 the effect on prices. The current dull
ness in the speculation finds it's truer ex-
PLANTATION in the doubts felt over the in
dustrial and business outlook and in the
pushed prices.
The proportion OF demonstrated truth in
the numerous rumors which ave helped
to lift prices remains up to the present
small, and conjecture over the reliability
OF much Of this report grows anxious with
the spectacle Of prices hating or receding.
Renewed advances in special stocks on
fresh rumors OF this sort do not serve en-
tirely 10 wipe out misgivings. Such move
ments were in evidence today and proved
on effect IN sustaining prices, but not in
IL was still confidently said. was to be
bought in the interest of Canadian Pacific,
but no authoritative announcement was
was affected by the currency given to a
story that E. II. Hartman had obtained
an optlon on the holdings or w. *. Nander-
bllt and was to assume the Craftsmanship
OF the board of directors. This report re-
cetved no countenance from the interests
Immediately concerned. The advance in the
Bank of England discount rate to 3 per
cent, which was the principal event of the
financial day, was OF small immediate eff
feet in New York. The action has been
generally expected and had no Lafavorable
effect on foreign stock markets. Private
discount rates rose in London and Paris.
The strong return made by the Bank OF
England coincident with this advance in
the official discount rate was a notice Of
pursuit of a policy of Strengthening posi-
ton for future contingencies rather thar
to meet the present demands. The heavy
repayments to the bank, amounting to oveI
&0,00,OOO. were supplemented by a decrease
OF Sl ,445O0 in the holdings of government
securities in the effect towards the reduc-
ton of supplies in the open market. Tn
purpose of the bank to attract gold is thus
definitely proclaimed and a competition
announced with the Bank OF France fol-
the weekly arrivals of Transvaal gold
which the latter institution has been takine
from London markets for the past months
Heaviness of the metal industrials proved
a drag on the market. The note of dis.
appointment I'm the views of steel tradt
authorities over the rate of revival OF new
demand carried United States Steel TO the
lowest point touched since its rise to q
record price late last year. Amalgamatec
Copper also was unfavorably affected BY
the declining tendency of the price of cop.
per and the reports OF accommodating stocks
of copper and the high rate OF production
OF that meal. The market closed with on,
of the intermittent upward swings Of price,
in progress.
Bonds were irregular. Total sales, pa
value, A,644,O0O. United States bonds were
unchanged on call.
The following were the closing quotation.
Aa afnaka A~A 1919