Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1910-05-03
NEW YORK STOCKS AND BONDS
Depression of Speculative Sentiment
Felt in Wall Street Markets.
PRICES GENERALLY LOWERED
selling Forced by wIped-Out Mar
gins and UBcoverInR of Orders
supreme Court Decisions
Play Part.

NEW YORK May 1.-The undertone of
speculative sentiment today remained de-
pressed and discouraged, Notwithstanding
an apparent Tightening OF the active pres
sure or liquidation and signs presented on
ihe part of the shorts pursuing down
course. The bears were inclined to cover
Lhell snorts at intervals to establish a
1resn vantage point from which To attack
prices. hence the recurrent checks TO the
u'Ciine and Intermittent rallies.
AS prices were forced lower, selling was
forced by the wiped-out margins and I'M
covering of stop loss orders. Expressions
on the part of bankers Of the inoppOrtune
money market position for entering on any
speculative campaign in stocks discouraged
operations on That side OF the market
Cotton payments in fulfinment or the
thrCe-day nodces pointed out to purchasers
FRIDAY We're maze on a large scale and
me regular May interest and dividend pay
nents were somewhat larger than usual
IL is expected that the completion of these
settlements will be followed by the return
OF FUNDS thus relc ased u the money ma rket
Inc sank OF Englanu reserve was further
Lepiehisheu by more arrivals of American
god, but the holiday on the LONDON stock
exchange lett no premium for speculative
appralsement or that development. the
fore .gn exchange rate here declined further
widening the margin away from the profit
II was on the industrial and commercial
sac mat the speculation had to encounter
IT'S most depressing influences. These were
most acute IN the metal group of indus
trlals especially the Coppers. Analga mated
copper broke through the lowest prices
touched during the whole OF the year 1909
Unsatisfactory demand and accommodating
STOCKS gave force to the rumors Of an in
tended sharp cut in prices of copper IN
some such spasmodic fashion as iron and
steer prices were reRdiusted more than
year ago. April exports OF copper were
shown to have fallen off heavily without
erecting any reduction i'm the reported
NlSlbIe supply In London. The related dull
ness IN the iron market, which apparently
spread to different departments of the steei
trade widened the differences drawn from
this condition.
The speculative temper was inclined to
make something Of a number of supreme
court decisions In minor cases as marking
contentious. such comfort as was offered
by crop advices seemed to he accepted with
reluctance. The early decline of wheat on
reports OF rains In the southwest with the
subsequent recovery and renewal of fears
OF damage fairly measured the influence of
the subject in the stock market
1t was commented upon that PenuSyl-
Nanla suffered no more than the average
decline although the directors refrained
from advancing the dividend rate Returns
or March net earnings showed the eastern
trunk lines rather better off in the propor-
ton OF gross increases conserved for the
net than in the case OF lines in some other
parts OF the country. Inspired intima-
lions were given out of coming increases
IN rates on the part of eastern railroads
IN consonance with the increases announced
by western trunk lines.
Bonds were easy. Total sales par value
23lS,00 United States bonds were un-
changed on call.
Number Of sales and principal quota ions
0G