Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-09-16
FINANCE AND TRADE
Easier Money Made Stocks
Stronger.
GOLD Is COMING IN
MOST OF THE BUYING BY
POOLS.
Union Pacific Was a Feature of the
Dealing-Standard Oil
Buyer.
'ecial Dispatch to The Evening Star.

special Dispatch to The Evening Star.
NEW YORK. September 16-Money
rates failed to reach recent record limits
this morning and stock market prices
hardened In consequence. 1t was eyiden.
even In the early dealing, when some SELL
ing was in progress. that a few of the
larger financial institutions We're making
an effort to allay any apprehension on ac-
count of the monetary situation. Funds
were offered from Ii to 10 per cent, and
later in the day the legal rate prevailed
for small amounts.
Gold Is coming in from Europe and Aus
tralia, and while the amounts are not
large, by comparison with the treasury's
drain, the sentimental effect is marked.
The arrival of $6CO,000 at San Francisco
was announced, and the subtreasury is ex-
peeled to make prompt payment here under
Geographic instructions. Australia Is send
Ing Sl,25o,000 to arrive early in October
and London engagement aggregating
$2,000,00O were reported but only partially
confirmed.
The banks continue to lose money to the
interior, and there is little prospect of per-
manent relief to the money market for
some weeks. Meanwhile there Is accumu-
latlng evidence that the larger operators
anu TIE plS raHroad merging SyndicateS
made preparations for prevailing conditions
by accepting time loans some months ago
Inc ease with which such issues as Wa
pash, Union racine, the anthracite coal
Shares ana other favorites are marked up
hoIn time TO time clearly demonstrates re-
sources on the part of the pools which are
not shared with the gdneral public. The
volume OF new business lis small and com
mission houses act for syndicates and nor
the public New loans are too exnensix-e
and the public holds aloof There are many
plans in progress of DEVELOPMENT which
DO not require public Import at this time
Later on new securities will be offered
but the accumulation of the old ones is the
chief effort of the millionaire faction now
in control of the market Union Pacific IL
being accumulated by important Interests
ROCK Island is credited with heavy holdings
VI Alchison, ana pennsylvania appears to
NC oh the verge OF invading the territory
west of the Mississippi
Syndlcates are engaged. in these under
tahingS now, and no public is required UNI
I'll the syndicates seek to market the new
securities which must result from the sew
erai enterprises now on foot. Present tests
OF the financial strength of the country
Will appear to have been trifiing when the
hnal process is begun.
standard OIL interests. through the City
Bank were active in preserving the strong
tone OF today's market. The bank an
nounced gold imports and its directors
were reported as free buyers of certain
STOCKS. The Gould issues, particularly the
wabash shares. were strong under an in
side demand
The coal shares were irregular under con-
melting strike rumors, but were sustained
by inside interests. The Industrial list held
We'll, and some rather good buying Of
Amaigamated Copper was reported All
things considered the market held wonder
fully well and showed little selling pres
sure. The recovery In prices, however ap-
pears TO have been rally merely designed
TO overcome concern and to direct atten-
ton from the money market.