Omaha daily bee., 1910-03-05
NEW YORK STOCKS AND BONDS
Market Gives Evidence Of Benevolent
Support from Banking Interests.
TO AID IN SALE OF BONDS
suppOsition IL that Institutions Float
ing Large Issues Are ProtectinE
stocks 20 Increase value
u Bonds.

NEW YORK, March A-The stock mar
ket today gave evidence Of BENEVOLENT credit
supposedly coming from the important
banking interests which are entering upon
a course Of heavy bond floatations. The
number OF these Issues during the week
has been large. but the amounts involved
are small by comparison with those named
as In prospect by n number OF the leading
railroad systems OF the country. Enlist
ment OF new capital on a large scale has
been recognized as a requisite for the
carrying on Of the great projects OF i'm
~provement and extension, which have been
announced by the various railroad COM
panies.
The most distinct flaw in all the great
stock market advance of last year was
the failure Of the bond market to share
In the BENEFITS. Demand for bonds was
apathetic throughout and new Issues were
distributed slowly and at small advan-
tages. No later than last week the wind
ing up OF a syndicate which had been
suited In a residue OF a considerable
amount Of the bonds left unsold and a
point drop in the market price. Much
interest, therefore attaches to the outcome
Of the current offerings. The prices at
which they are Offered in itself witnesses
70 remaining difficulties in the way OF
securing new capital. The prices are low
cedinB epochs Of large financing, even
without allowance for the discount on the
offering price Of the martgages. The only
announcement on result made while the
stock market was still in session was en-
couraging as 10 the foreign reception OF
The Offering Of bonds of a subsidiary Of
the Rock Island system. In the case OF
several local offerings OF importance, this
absence Of announcement Of the closing
OF the subscriptions with the promptness
usual in periods OF redundant Investment
demand for bonds carried its own suR-
gestion. There was Buggestiveness, also In
the sagging trend Of New York city bonds
additional issue and the exprtssed doubts
Of bankers, whether a 4 per cent issue
could be floated. The latest issue in New
a premium, but that bond sold down today
ut the stock exchange to 9kc. The COM
Paratvely low price at which the new
roads is not calculated to hold up the
prices Of the older issues and the nov
ment Of prices Of bonds today was ir-
regular as a consequence.
The stock market was spotty in appear
ance and intensely dull most Of the time.
The reactionary tendency which set in
Yesterday afternoon was resisted, but the
market as a whole did not show revived
strength. The coppers were helped by the
better feeling over the market for the
metal. Prices Of copper were advanced in
was said to have been enlivened by the
improved statistical position. The specu-
lative element In the market was In
clined to make much Of the brisk adj
vance in all the securities OF the Ameri-
can Tobacco company, as marking a feeling
OF confidence on the part of the insiders
IN the corporation principally concerned
In the governments prosecution under the
antitrust law.
The Indicated cash gain by the banks
was a helpful factor, in view Of the large
financing, which is being undertaken. The
news Of the labor controversies in Phila-
delphia and in the Baltimore g. Ohio's
service was not favorable but was moi
OF great influence.
Bonds were irregular. Total sales pal
value, @ebSOO. United States bonds were
unchanged on call.
Number Of sales and principal quotations