Omaha daily bee., 1910-02-10
NEW YORK STOCKS AND BONDS
Market Opens Two to Three Points
Above Tuesdays Close.
SUPPORT IS IN EVIDENCE
Criticism of Mia Interests by Bankers
Because of Decentralization
of Business Has Its
Effect.

NEW YORK, Feb. 9.-When prices Of
stocks started upwards this morning
from two to three points for the ma
jority OF the active speculative issues
1t was read as a reversal Of policy ON
the part Of The great controlling final
powers rather than as rejecting n
sudden change in the condition of al
fairs. 1t served notice at the same time
that the operations OF the bear party In
tie specuiation would not be allowed to
go ~unopposed
Practical suspension of efforts to sup
port the market has been it's marked
character throughout the severest por-
ton of the recent depression. The ef-
feet of this withdrawal OF support has
been a potent factor In creating a spirit
Of uneasiness regarding the market sit
uation. II has caused the impression
that inside interests in the great COR
| porations and the financial institutions
were acutely apprehensiVe Of their own
future on account Of the rigor Of the
laws, both those In force and those III
real sentiments Of the ruling financial
powers on this subject, there has grown
up a spirit of criticism Of the policy Of
leaving the securities market open to
factors of depression without attempts
to contest them. The suspicion that this
that distribution had been effected Of
large accumulations Of stocks held by
the important financial powers, leaving
IL TO their advantage to have prices re-
cede and thus afford opportunity for re-
purchasts at an advantage, has added
force to the criticism. There were re-
taken the form of open and sharp re-
PROOF from a section of the banking
world representing the great CONNER
cial and mercantile interests Of the coun-
try in distinction from the financial re-
street banks; This, reproof was said to
adopted by some Of the financial au-
thorities as injurious to the commercial
situation as having a repressive effect
Whatever the inspiration, the stock
market, gave clear evidence from the out
set today that the downward drift of
prices was to be no longer unopposed.
The late drive at the market yesterday
had to be made at the rebound The
obvious. More cheerful views were *
pressed of business, industrial and po-
liticsl prospects. The easing course OF
foreign money markets was taken &C
count of and its stimulation caused some
demand for American securities. This
demand was reported to be more in evil
dence for bonds than for stocks, al
though there were considerable pur-
chases of stocks in New York for London
and European account The foreign ex.
change market revealed the presence OF
a supply Of exchange on this account. al
though the merchandise movement still
makes exchange against this market.
The December earnings Of the New
York Central lines gave material for 9
summing up Of the years results and
conditions and prices. The combinet
operations Of all the lines in the system
showed gross earnings for the twelve
months Of $23S,s45,5OS, an expansion d
Increase in net earnings, allowing fol-
the growth Of operating expenses
amounts to Sl7.45S, 41O. which is NOR,
than SO per cent greater than for thu
calendar year 1908. The fact that New
York Central shares sold this week lower
than In February of last year was, mad,
matter for some on relativ,
conditions then and now in the light o
the years operating results. New Yorl
Centrars esponse revived the buying anC
completed the rout Of the shorts. wht
bought very heavily in the closing deal
inRs, extending the principal gains from
three to five points. fE i'rfo
Bonds were firm. Total sales, pa,
value. $4,047, 900. Is United States IS. reg
istered. and Is. registered advanced
per ~eentCon call. ~ tt.-' 81, ---n1 aT5~N'
Number of sales and leading quotation
on Etnclra MRrn as. fnllnNNS. .--.t .