Omaha daily bee., 1909-02-16
NEW YORK STOCkSAy BONDS.
Values Advance to Higher Level
Reached in London Market
ERIE BOND ISSUE SANCTIONED
This sreR sd Harrtman's Soufhcra
PIans nave seed Efseet - spsss-
htfos-Dun ~Iat~rral Fol-
lowed by Active CIe.e.

NEW YORK. Fsh. 16-Prinss Of stocks
uncerU ent a rapid readfustmeut today 10
ne higher Level Of TIE London market
closed on Friday and Saturday. the foreign
dealers were engaged in marking n prices
81 American securities 20 conform to the
securities.
The clearing Of the political horizon
abroad the demonstrated control q the
tnteruAt1onal exchanges In favor q Lon
don and the recuperation Of reserves % ne
Bank q England which BE- going on In con
Sequence and The prospect OF pressure from
larEe accommodations Al the banking re-
serve centsrs for employment served 70
stT the Speculative spirit IN the
London market The subsistence Of appre-
henson abroad has put d stop 10 the send
tnG home Of American securities IN Hqu1da-
uun some demand for stocks for foreign
account has developed London buying quite
freely here today until the rapid rise m
Cur prices had wiped OUT the margin Of
profit OF aThitrage operations between the
two markets The Landen market Itself
suffered some reaction before the dRv
ended owing 70 the swift rate Of the re-
cert imprgFernenI Beyond this shift IN
The daily dealings IN stocks between the
market much IL hoped from q probable
revival Of investment demand abroad a. a
factor in fUr1hsring the placing Of aIlot-
nnsuts q bond issues Of American corpora
ions such issues courinue 20 be mace
on . large scale ana stfli Others are dis
me dscision q The New York state Pub-
&c Service commission authorizing the
Erie bond issue proved cutie a potent in
nuence on the speculation. Pears have been
expressed that the Erie financial plan Was
70 meet an obstacle IL The opposition Of
THIS CRITICAL body. There Is no work con
sioSred q greater Importance al present
than tins financial measures by which vzri-
fouS railroad corporations are being put On
their feet and saved from what threAAened
but q short time since TO be forces Of ais
organization The Erie was . notable case
IN point but Has chiefly important as an
sIEmDls Of otbsr similar work gong on.
dhe effect Of This decision
therefore was considerable. The Increase
in the dividend rate on Peoples Gas proved
another Influential factor In the specula-
ton Following the fnAuEuraton Of divi-
dends on Brooklyn Transit last week the
action sREEeEted the regenRratfun Of an Or
EAntzstaon in the speculative market which
mas been OF sensational effect IN the past.
Another conspicuous center Of strength WAS
ID the southern railroad group. the Causes
being not Clearly visible The discussion
Of possible dividend increases was heard
n the cases OF some Of the stocks affected
The trlp Of z h Hartman through the
sculh Anc The character Of the published
remarks attributed 10 him Initiating his
plans fer large ouIlEFs for Improvement
In thai railroad field and his faith in the
reg1un were useq WiLh effect in fur1herlns
the advance TIE important influence sK-
erteo by TIE speculative improvement
abroad was shown BY The subsistence Of
activity after the hour fer London trading
had passed. BY thar tine the volume q
dealings had sunk back 10 the Level Of
laEt weeks dullness. The advance in val
ues was turned back also 10 some extent.
The heaTfBcss q the copper industrials con-
d0ceo 10 this result The figures Of stocks
complied by the newly formed Copper Pro-
oHoefs Gssocfsttoc are sze3ectec 70 critf-
elsm- Another reduction IN quotations for
The metal to-day In LoDdon and in New
York weighed on the group InEistent
reports Of cutting Of prices OF steel prod
1ctE and Of stagnRuf demand became a
tactor y the later stock market. Prices
we're marked IN aRaln in The final EaEFan-u
IN expectation Of another upward impetus
Tor prices from LaDdon. tomorrow.
Bonds were strong. Total sales. par value.
shssAsa. United States bonds were IN
changed on cal.
Numhsr Of sales sne principal quotatiena
On stocks were a. follows