Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1909-05-31
Narrowness of Public Interest is
Evidenced in Many Ways.
WORK FOR ADVANCE
Big Rises Promised When Tariff Bill
Becomes Law.
INTEREST IN ARMOUR BONDS
Proba bility that Packers Are ia
Wake AEEressive Incursion Into
Leather Field Attracts
~ Attention.

NEW YORK, MAY S0.-There was con-
siderable uncertainty in the stock market
last week with tendency TO return to
a fixed level In the price average. The
same tendency Is perceptible in a longer
retrospect, the average price Of the most
representative stocks having changed but
little from that Of the early part of Nay.
The speculative attitude is one OF waiting
and this disposition was intensified by the
three-day holiday interval in prospect al
the end of the week.
The narrowness OF the public interest in
the market was evidenced in numerous
ways Once or twice during the week
there was liquidation going on of what
looked like large individual accounts In
a few stocks. The rapid yielding of the
prices OF the securities thus affected indi-
Gated the indifference of the demand which
had to be eontended with. On the other
hand, in the intervals OF those liquidating
epsores, a very light demand was ef-
fective IN lifting prices rapidly, thus In
dicating the small floating supply OF stocks
I'm the market. Efforts to analyze the
causes lying behind these manifestations
gavelarge Importance TO the extent OF the
operations by market pools and elaborative
speculative organizations, which have fig
ured in the advance in prices for many
months past.
AwakeninR Public Interest.
The objective point of these organised
operations has been the awakened public
demand for securities and the progress of
the restoration Of trade and industry to
the activity obtained before the panic of
1907, or even beyond that Men of recog-
nized Judgment and authority in the finan-
cial world have voiced the conviction
~
trade ana industrial activity and accom-
panying prosperity was to rise TO new high
levels. II has been common for such opin-
ions to point out the completion of the
struggle over the revision Of the tariff as
ftxtriR the period OF the sprinstng into anil
nation of all sorts OF enterprises held back
for that event. The estimate accepted for
some time past In Wall street for the
probable enactment of the new tariff law
were for the first of June or thereabouts
The approach of that date with the de-
bate on the tariff measure dragging out to
an underlined future, leaves the specula-
ton I'm a suspended state.
Meantime there is a continuous flota-
ton Of new securities going on, stmu-
lated by the abundance of banking forces
left unemployed by the moderate require
ments, as yet of the mercantile demands
Railroad ana INDUSTRIAL COIpOlaNOhS poSi
figure In this new financing. Some OF II
gives rise to conjecture of plans TO launch
into new fields of combination and con-
solidation of industrial enterprises. The
public offering of stocks OF the United
Drygoods companies was made the text
for discussion of such likelihood
Armour Bond Issue.
The Armour q Co. bond issue aroused
the surmise OF leather interests Of pos
sible aggressive incursion into that field
The candy manufacturers were observan
OF reports that the principal glucose In
terest would embark on that industry II
comprehensive way, The conspicuous
/ strength OF the steel group owed as much
to rumors OF merging OF the Independent
companies with the object of harmonizinl
relations with the United States Stee
corporation as to the returns OF trade
hetterment These returns were striking
- nevertheless. Increased demand for re
fined copper and reduced pressure of OF
fsrings by the leading interests furnished
additional testimony OF the thriving con
dition of the metal industries.
Speculative sentiment has not been fire.
from anxiety over the crops and the de
sire to await the government report o
condition as OF June of the grain crop
constitutes a leading repressive influenc
on the market.