The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-11
MONEY STILL QUOTED HIGH.
FENEUED REPORTS As TO GOVERN
hIhT BTYISG BONDS

One Rnmor Had II That n New Yor,,
House Iind offered to Sell $40 ZOO. 900
OmriNi' nt Washington Deny This
Possibility of Imports of Gold Discussed.
Money continued stringent in Wall Street
yesterday the ruling rate on the New York
Stock Exchange for call loans being IL per
cent. with renewals ranging from - 10 II pei
cent The highest rate was II per cent. and In
the afternoon when the principal demand had
been satisfied. tho rat" fell to 3 per cent
Rumors were circulated during the day that
the money market situation was to be relieved
by tho purchase by Secretary Of tho Treasury
Gage. Of n large amount o, Government bonds.
tho result OF which would DO tho release by tho
United States Treasury OF an equivalent
amount OF cash 1t was reported that a prom
insnt local bond house had made an offer 10
soil SloOoo.Ooo OF Government bonds. and
that this offer was being considered by the
Secretary. BY the acceptance OF such an oryer
It was pointed out. II would be unnecessary for
tho Seeretary to 70 into the open mark ct to
buy bonds, thus running M the market price.
. inc general expectation in Wall street vsa
thRt the weekly statement nf averages OF tho
associated banks, % bo issued to-day. would
which have already fallen under the legal re-.
Iuirement OF - per cent. OF the deposits
Treasury for internal revenue and customs,
athough the direct express movement OF
lighter v9lrmSi The banks shipped direct by
lost to the snb Tr"a.%ry sSocSoo6" ne m Slfa
the aggregate loss IN cash 81 Wi3,i45
Meakn"'s T. the sterling exchange market
practical decentralization. led to talk OF the
p"rt, I'LL q gold imports, D.msPd 6iI. sold
asked. Sterling exchange authorities said thai
ms was sun about cents on the pound above
bs made nstan' n pr Tn9 G"d imro,ts msh,
the exchange market, they said, reflected
Increased offerings OF bills against cotton ex-
ling loans. made because of the high money
rates prevailing here. and in addition largo
the day before in the local market for London
account, The decline in cotton prices is rx-
rscted to much enlarge tho movement OF cotton
In the cnse Of the sterling loans that have
been mHIe the operatton practically amounts
purchases Of our stocks for ior"&n account. il
amountsd 10 ;SJ.on6 t" 5000 shares ;u yesterday
Will" exchange rates may decline further
representatives. ~ ster,nG exchange houses
Imports, In ri-w Of the Iiosr war and the
condition OF tho foreign markets. where money
adverse to r.nIuiShing any void and her
b.nkcrs would adopt the various measurss
ei,.ct,ye IN ~. sterling market to prevent
WASHINGToN, Nov iO.--Secretary Gage was
asked tonight about the starement that a
New York bond house had offered ten million
dollars worth OF bonds to the Government in
order p ease the money market. The Secretary
said that he had received no such Omar
II has been SAID repeatedly ut the Treas
ury Department within tho last few
days that no purchase OF bonds was contain
plated, although II was not said positively that
such action would not he taken should the
situation become more serious. Tho belief
among Treasury officials now is that the worst
stage in the money stringency has about
passed, or at least that the situation will NOT
become such IA To render reiet from Wash
inRton necessary,