Omaha daily bee., 1899-09-24

the loans were called outright only to be
replaced, after the collateral had been
The violent fluctuations in Brooklyn
Transit had an inevitable effect on other
securities more or less allied to 1t by COM
portions Of the dealings in Brooklyn
Transit. have perhaps never been equalled
in the history of any other stock in the
number of shares of this stock sold on
the exchange foot up n total of almost
issue OF the company, The fact is be-
ginning to emerge that a contest is on
between some OF The he most powerful d
control of some or all of the public
utilities and franchises of Greater New
fierce for many months in the gas bust.
ness of the city and belief in wall street
is that the same. elements are engaged in
railway corporations. The eagerness of
the bear element among professional
short account and the demand to cover
became rather urgent.
There was some relief from the earlier
anxiety over the money outlook as the
week progressed, based on various causes.
The large contraction of loans was suf-
ficient to Insure a material decrease in de-
post liabilities by the banks and the outgo
of money showed a falling off both to the
interior and to the subtreasury, The pur-
chase Of 10000 IN gold in the London mar,
would not be vouched for by anyone In
Wall street, had an influence on Stock eX-
change sentiment, as it was doubtless In
tended 1t should.
The downward course of foreign exchange
excites expectation of an early import
rather deprecate the expectation, There is
still existing a short interest in sterling
exchange, which I'm, makes g good demand fol-
Ing forward more freely. Last September
the surplus reserves of the New York banks
f 1ean o sonsra s'ESp,c% and @" l=i seRItSsmtiSTr on IN f the
Stock exchange set In with a stiffening OF
the call loan rate to 6 per cent. BY the
end of the month call loans had dropped
back to below 2 per cent and surplus re,
serves had risen to about 49, 00,0 900. Blu
last September the treasury added to Its
deposits with depository banks the sum OF
nearly SIS, 600, 900 in connection with the pay
ment of subscriptions to the new govern,
ment bond issues; The large excess no OF
adding to the money in circulation while
the New York banks are now losing weekly
the receipts of gold from Europe at New
port, were s11.78S,2 PAP, This month there
likely before the end Of the month. Last
September the treasury not only offered TIC
anticipate october first interest on the 4
per cents Of 1907, as it has done this year,
but also offered to anticipate the redemp,
ton of over sl4,No,0Oo Of Pacific currency
IS; Neither eroo offer saa, was bt taken keTds adva an hond o.
National banks were increasing their cir.
culation last September on a larger scale
than this. These differences in the circum-
stances last year must be taken into ac-
count in connection with the quick re-
cuperation of New York banks last Sep,
TENDER. The loan contraction last yeal
between September 10 and October II
reached nearly 100000.
The bond market has moved generally
in sympathy with stocks, but has not beer
as active nor changes as wide. United
States IS advanced 4, but old As, regis:
tered, declined u, and the IS X in the bio
price.
The Commercial Advertisers Londor
financial cablegram says: The. tone of the
market here today was slightly firmer or
the cabinets strong attitude. It is hoped
that the arrangements to forward an army
corps of $4,000 men will force the Boer:
steady, but neglected. Berlin bought North
ern Paoiics. Spanish As were GA: Tintos
46S; Anacondas. II lie. Bills were very
firm, bankers refusing them under 3%. Tn,
! bank did a fair business at 21s; s200,0N
gold was taken for the Cape.
The following are the closing quotation:
for the leading stocks on the New Yorl
exchange today: