The Washington times., 1901-09-11
TIE MONEY MARKET EASIER
A Distinctly Strong Undertoue on
the Stock Exchange.
Supporting Orders Not Ncedcd-Buy-
ers Attracted by the Low Prices
ST. Paul the Feature of tiic Rail
way List - Occasional Reactions.

NEW YORK. Sept. ia further better
ment in prices in todays stock market
might be said to be based exclusively
upon the Improvement in President Nc
kinleys physical condition. although it
would be useless to deny that the pre-
cautionary measures in the money mar
ket which We're precipitated by the at
tempt upon the Presidents life were also
a powerful factor in the advances shown.
The money market today was distinctly
easier in all departments. Borrowers on
call. it may be said. have for the time be-
ing virtual call on money at per cent,
hence it is unlikely that any higher rates
will be Immediately quoted Tor this rea-
son private individuals and institutions
not affiliated with the clearing house
committee were quick to place their funds
at the disposal of the market, with the
result OF breaking rates materially.
1t was doubtless in view of this proba
bility that the clearing house committee
and their associates notified the financial
world of their willingness to extend all
the requisite accommodation on the terms
noted. Their display of confidence was
all that was necessary to induce offer
ings by other lenders of money, so it may
be assumed that the crisis in this respect
has been passed.
In response to the representations of
the local bankers, the Secretary of the
Treasury today advertised for bids for
s20fp0000 of Government bonds, bat the
acceptance of his proposal is obviously
matter which will be determined by stock
market and money market conditions.
The market opened favorably, influenced
by the continued good news in respect to
the condition of the President, and while
occasional reactions marked the advanc-
ing tendency of prices, the market
throughout retained a distinctly strong
undertone. London sent in slightly ir-
regular changes in prices and the orders
for foreign account in this market were
about equally distributed between pur-
chases and sales.
Supporting orders Of the character noted
in yesterdays dealings did not appear to
be necessary today and. indeed, were not
houses continued to report the execution
of buying orders on behalf of customers
attracted by the comparatively low level
of the market and the short interests con-
tinued to reduce its commitments
As regards particular movements in the
market, IL can only be noted that st. Paul
was again the feature of the railway list
and that the dealings in the stock were
again influenced exclusively by 5he no.
tons entertained regarding the rate of
dividend to be declared next Thursday.
1t is doubtful whether the directors of
st. Paul have decided definitely as TO
what dividend will be declared; but by
one of those shifts of opinion not uncom-
mon In Wall Street. the idea commonly
prevailed today that in addition to the
regular per cent rate an extra dividend
of l per cent would be declared.
Other movements in the market did not
require particular comment inasinuch as
they were determined chiefly by the gen.
erGl circumstances already cited.