Omaha daily bee., 1909-08-20
NEW YORE STOCKSAND BONDS
Market Declines Still Farther on
Heavy Offerings.
HARR1MANs LEAD THE DROP
Reported III Health of Head Of sys-
ten Made occasion Tor Bear
Raid-Lower Prices In
London n Factor.

NEW YORK. Aug. lg-Prices in the stock
market declined further today ON seliing
by bears. Unusual activity AND excitement
prevailed a. the openlhs Oul 49, va W.
orderly. As on the previous day, report
rumor and conjecture dealt largely WIN Ile
physical condition Of MI. Hartman ana
the possible effect OF his reported I'LL health
upon the much discussed plans Of the Har-
riman roads. The crop news Of the day
was neither good nor bad. Continuance OF
the severe drought in the corn pell was
offset by the ideal weather prevailing IN
the spring wheat territory. London gave
this market little announcement as inter-
national stocks were all lower there, anu
later that center disposed OF some wow
shares here, principally Union PaclilC'
Southern Pacific and United states steel
Union Pacific, Southern Pacific, Canadian
Pacific, New York Central. Illinois central
and Chicago & Northwestern all fell a
point or more at the opening, with very
substantial fractional losses in numerous
other issues. AtChisOn was one OF the rev
active stocks to resist the selling pressure
Before the expiration Of the first hour, in
which almost 50O.OO shares changed hanGs'
Union Pacific was off ) points aud headlnB
2. BY midday there was some recovery pu.
business fell Off TO a marked degree ana
the undertone continued feverish ana con-
fusing. The final hour brought further re.
coverN, with especial gains in the local
fractions. Missouri Pacific and central
Leather. The rise in the latter stock was
concurrent with an announcement That a
plan had been evolved TO overcome the OPP
position TO its merger with the United
States Leather company.
Reading, Rock Island, New York Central,
Pennsylvania and Steel regained all the
better part Of their early losses, but the
Hartman group made little headWay IN
that direction. Stocks poured out In enor-
nous volume and the decline proceeded WIN
little interruption. Absolutely no news was
heard to account for the movement, when
was the most sensational of It's kin m
several weeks, but the consensus OF board
room gossip was that the raid had its or
igin In a very aggressive bear taction,
which chose this particular occasion as the
psychological moment, At the lowest point
OF the day Union Pacific, Reading and New
York Central recorded maximum losses OF
over 8 points each, and but very little re-
coVery was shown. The balance OF the llst
was affected to a greater or less degree
and the close was not without its moments
OF semi-demoralization. over 100000 shares
were traded in during the last hour. and
of that amount over two-thirds came oul
in the final twenty minutes. The days totaI
was again well above 100000 shares.
In the money market call loans opened al
21a per cent and held close TO that tlgure
Money was in reduced demand without
change of rates. The weekly report of the
Bank of England showed a gain In totaI
reserve of about s., 500, 900, its discount rate
being undisturbed. The exhibit OF the Bank
Of France showed large gains in treasury
deposits, with a small increase of gold "
hand and a decrease in advances. So large
is the supply of money in France at this
time and small the demand that Paris
bankers are offering freely Of their sur
plus supplies in Berlin and buying Ameri
can bills.
The bond market was easy. Total sales
par value, $1,000, 900. United States bond:
were unchanged. g
The following were the closing quota.