Omaha daily bee., 1910-05-12
new YORK. STOCKS AND BONDS
Speculative Confidence stiffened by
Absorption Of Stocks.
CROP CONDITIONS ARE IMPORTANT
After Effects of Government Report
TEND 60 AIIsy serious Anxiety
Depression Passes Because
of Kings Death.

NEW YORK. May 1.-THE persistence
with which stocks were absorbed at the
various price levels today had an influence
IN stffenlng speculative confidence and
formed the tone OF the market. such con-
spicuous market leaders as the Hartman
Pacifics, Northern Pacific, Chesapeake &
Ohio and at times United States steel,
were held back by realizing sales Of this
kind. These sales were renewed quite ac-
lively at the last and unsettled the closing
tone considerably. The quieter tone Of the
wheat market today took the edge off the
erect OF yesterdays sudden slump.
There was a realization that speculative
maneuvers in that market shared with crop
conditions in the causes for the action OF
the price. The after-effects of the govern
ment crop report have been, however, to
allay the most serious of the anxiety which
was felt over the amount OF damage done
TO the grain crops by the severe weather
OF the latter part of April Current reports
also point TO constant improvement in con-
dttlons, especially in the spring wheat belt.
Besides the growing Influence Of the ag-
ricultural general prospect. the securities
market is having the benefit of other gem
eral considerations. The passing Of the de-
preston caused by the succession to the
British throne brought with Il a sense of
substantial relief which, 1t was felt, en-
titled the stock market to an upward reac-
ton This IL en- influence that passes by
sympathy between the International mar
kets. IL was strengthened today by the ca q
ing or the money markets. The private dis
count rate in Berlin was marked down a
]
! Likelihood OF reduction In the official dis.
count OF the Bank OF England tomorrow
IN New York demand sterling touched
AS6S5. the lowest price OF the year. with
some subsequent recovery BY small ad-
diuonal details, the main contention as Ia
the Importance of the foreign sales of new
securities Is coming to be verified. This
forms a continuing influence In favor OF
the whole financial situation.
A good deal of attention was paid to the
copper metal market, and there were many
rumors current Of DEVELOPMENTS in thai
trade. Official information of copper trans.
actions beyond the publication OF the sta
tlstics OF the Copper Producers associa.
ton Is not to be had. The price of the
metal advanced again here. but fell back
IN London. Last months large accumula.
ton was attributed mostly to the leading
interest and its control was said TO have
increased sufficiently as a consequence &c
enable II to exact the better prices from
some or the recent buyers. A somewhat
better tone also was said TO be growing
! up In the iron market The record lake
shipments OF ore for April came into this
discussion of the trade position.
| Brooklyn Transit was the subject of diyi
| dend rumors. Wabash was affected by IN,
revival OF old rumors of new control Ad
Justment OF the trunk line dispute over i'm
| port freight rates and proposed increa sci
| IN suburban passenger rates out OF New
! York were factors in the days market.
Bonds were steady. Total sales ma
value, S3,14,O00. United States Is decline ~
I q OF per cent on call
Number OF sales and principal quotation,
on STOCKS were as follows: