Omaha daily bee., 1910-06-28
NEW YORK STOCKS AND BONDS
Mood Of Depression Followed by
Shrinksge in Prices.
MORGAN BACK TO WALL STREET
Financier's Presence Cited as One
of Reasons for Dizziness as
Due 60 Disappointed
Speculation.

NEwyYoRK, June 27.-The stock market
underwent a mood of depression again to-
day and prices were subjected TO severe
shrinkage on smallness OF actual trans,
actions out Of all proportion to the amount
OF the declines.
The crop news was not bad and 1t was
necessary to turn to other factors for ex-
PLANTATION of the weakness. There was a
suspicion, amongst other proffered explsna-
tiOns of concerted attack by an organ
lied bear party under powerful auspices =
rumor, often used by bears, that J. Pier
pont Morgan had been stricken suddenly
with death, which was followed shorty py
give himself to business activities, aroused
this suspicion. The disproof of tho rumor
did not however revive the m M TsL s,-so,
was cited In another way, as an eXplana-
ton OF the markets weakness, as due 70
olsappointed SPECTATORS VINO hsu ,b ws ,5so
that it would foment an active period OF
rising prices of stocks. The grounds on
which this supposition had been formed
amounts of foreign capital in the purchase
of American securities, that he had secured
an agreement with foreign copper producers
curtailment of output ana that he had
assured the listing OF United States Steel
on the Paris Bourse From these reports
and from the diligence of his banking
house In getting assents of freight shippers
to the advance in rates asked for by the
TaurOadB IL nau Deen inferred Dy party
in the speculation that the Morgan party
was looking to higher prices for stocks.
| Out of this situation an advantage Is
supposed to have been sought by a pea
The action of the market today had great
influence in coloring the conteotures OF the
hes standapd esrty Being asssnea
naturally to the role of leaders of the
onslaught on prices Another explanation
OF the weakness of the market was tha
n holdings
of important stocks was in progress anC
that banking interests, having knowledge
of the fact were disincined to attempt &
support OF prices while this was in prog
ress.
outside the realm Of pure conjecture
pressure of stocks FOR sal" sale and the laci
| of demand. Railroad traffic officers re
ported well sustained volume OF bust
ness and hopeful sentiment on accoun
of confidence that rate increases would b.
allowed. The call money market showed
no disturbance from the approach OF tn
July settlements. Private discount rate
were easy in London and Berlin and tn,
official discount rate of the National Banl
of Belgium came down 10 3i5 per cent
II Foreign exchange rates in New York, how
ever, turned upwards rather sharply, Tn
i extension Of time allowed for payment o
the corporation tax to July 10 relieved tn
u money market OF one requirement for thi
4 week. although the subtreasury operation
in New York show signs OF the turning
u over of some large sums of money TO tn
/ government.
The severity of the days decline CAV
rise to the inevitable uneasiness, but spe
citic rumors even Of financial difticultie
were not heard. The stocks of railroad
in the group controlled by the interest mos
active In recent deals and readjustments O
relations were watched with some specia
attention. Last prices were the lowest O
the day, Union Pacific and Reading show
ing losses of over points; Chesapeake
Ohio S1s and the active list generally fror
to 8 points.
Bonds were weak. Total sales, par value
81, $4,000. United States bonds were IN
changed on call.
Number OF sales and leading quotation