Omaha daily bee., 1899-09-13
MOVEMENTS OF STOCKS AND BONDS.
Liquidation in Evidence Consequent
on the Money stringency.

htuutuHttoh III bNtuthte ,ohNtNut"h
on the Money stringency.
NEW YORK, Sept. 11.-Forced liquidation
was in evidence all day on the Stock ex-
c<ange as the consequence of the efforts
of the banks to reduce their deposit La
bilities by a reduction of loans. Saturdays
bank statement revealed the fact that the
surplus reserves were approaching exhaus-
ton and with the imminent prospect of in
roads being made upon the legal reserve
had prepared the speculative public for
some such development. The continued de-
mand from interior sources for money and
payment for taxes in the subtreasury today
confirmed the expectation. The market
went down under successive floods OF Of
fers. At various times during the day the
hausted itself. The rally in prices at such
times was feeble and the trading became
very dull, the demand being at a minimum;
The standard stocks suffered in. an equal
degree with the more speculative INDUS
trials This feature was doubtless Ibo,is , due IN IN
the part of money lenders to accept the in
dustrials as collateral for loans. 1t was,
therefore, the standard stocks, which. We're
thrown upon the market by the calling OF
loans. A..
Aside from a few Of the iron and steel
manipulation for a rise, the largest losses
of the day are N such stocks as the grang-
ers and trunk lines; There were a few
firm. notably Louisville, Southern Pacific,
Union Pacific and Northern PacihG. The
Vailing Se Depression sse 'p to put out extensive
short lines. Brooklyn Rapid Transit was
a notable sufferer and was raided down to
and within half of par, The stock closed
only a fraction above the lowest. Metro
feoted and lost ~ on the day: Tennessee
Coal and Colorado Fuel rose in the early
dealings, but fen 2 points below saturdays
slightly affected, American Steel and wire,
Republic Steel, both common and preferred;
PPiuhiIRm1na te P National s S0a.'n Manhat tE1As and
Peoples Gas were especially weak. The
net losses on most Of the active railroad
stocks range between ] and 2 points. The
quotations for odd lots ranged above a full
lot quotation in most cases, indicating the
Cline.
The market totally ignored the tendency
to recovery on foreign stock markets M arR s al
though London bought some. 10000 shares
made at 5s per cent soon after the open
even s per cent, dropping to 8 per cent
after the days needs had been practicany
the money market were the subject of dis
cussion in all circles. The leaving on de-
post payments for taxes is considered the
leader was generally believed to- be with
tas en.ef h,k af q priae Of suG sov e mssa"Fe bon mhs
which must be deposited with the treasury
9 sSnd the le sap ok a ss ssfeu WitSh t tSem s0Yi Is a poat
serted that the banks will be able to Dor
row government bonds to use for this pur-
pose.
in spite Of the tightness of money and
buying for London account. but exchange
on Paris did fall a fraction.
Bonds weakene In sympathy with stocks
but the selling pressure was not severe
Total sales, par value, $2,299,0G0. United
, States bonds were unchanged in bid quota.
i. lions.
The Commercial Advertisers London
financial cablegram says: The ..marke.
here disregarded the Dreyfus verdict anG
much better. Mines led general recovery
Paris also buying on the absence of riots
Americans were quiet throughout. The!
opened good, but reacted on New Yorl
sales, closing heavy. New York Dough
Mexican Centrals, particularly the first in
comes. 1t is supposed that these are MGR 10
gan purchases. Spanish As, 60; untos, 4612
4; Gnacondas, ii sis. The bank bought f4S.0
: gold in bars. Money was m n1Tee pi er n of
fered, bul no London paper.
The following are the closing quotation
t for the leading stocks on the New Yorl
. exchange today: