Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-09-30
NEW YORK STOCK MARKET
Normal Recovery in Prices Con-
tinues During Days Trading.
WAR CAUSES SOME REACTION
Position OF This Country AZ time Of
CRISIS In Europe Considered Un-
usually Favorable by Inter-
national Bankers.

NEW YORK. Sept. 2s.-The normal re-
oovery in prices on the stock exchange
which characterized yesterdays opera
tons was continued through the early
part Of today's trading. The extensive
short interest was the pivot around
which the market revolved the covering
movement by that element constituting
the most Important factor Declaration
OF war by Italy against Turkey later
brought about a reaction.
To all appearances the street chose to
ignore the adverse conditions which con-
fronted the market at the opening. In
London quotations of American stocks
were depressed in some cases as much
as two points. Berlin reported the sus-
pension Of a comparatively unimportsnt
financial institution Domestic conditions
which prompted the recent heavy liqui-
datlon were not improved. In the race
OF these influences the market rose Wig
orously soon after the opening United
States Steel touched its high point OF
the week at g. IL was apparent that
this seemingly artificial movement was
que 70 the TACT that the snort interest
had been overeXtended during the heavy
selling early N the week. surface con-
ditions indicated that the enormous In
terest which reared itself on the decline
beginning IN midsummer had been largely
put to rout, although from all accounts
II remains unusually large.
ltalys declaration OF war heightened
the unfavorable effect of the foreign in
fluence. In the latter part of the day
the market saeged and gains Of TO
points were lost The close found some
losses on the days operations. although
net changes in most cases were only
nominal
The position of this country at this
time OF crisis in European politics was
described by international bankers as un-
usually favorable. For the first time in
many years Il was said. the beginning
Of war In Europe found money rates
here easy, so that New York is in a posi-
ton to enlarge its credits abroad. There
was further borrowing here today by
between Turkey and Italy would result
In continued transfers Of funds to Europe.
Recently Italy has been drawing down
It's balances in London and also has been
taking some money from this country.
day. Trading In American Tobacco Sc
curities was continued on a large scale.
The per cent bonds weakened early in
the day, owing to a report that the plan
vided for retirement of this issue at 20
instead Of at par The preferred stock
rose nearly three points. on the curb
the common stock bounded ID points.
OF number OF railroads whose August
reports were submitted today, Canadian
Pacific was the only large system 20
show material increase in net earnings.
Curiously enough, Canadian Pacific was
the weakest stock among the railroad
issues. Reading, Erie and Rock Island
reported smaller clearings
There was further activity in the bond
market. Some of the speculative issues
were pushed up at a lively rate early
in the day, but reacted sharply with a
final upturn before the close. The total
sales bonds, par value. So, 10000 United
States bonds were unchanged on cali.
Number OF sales and leading quotations
on stocks were as follows: