The times. [volume] (Richmond, Va.) 1890-1903, 1902-08-16
S0L|C|TUDE OVER
MONEY STR|NG[NCY
FURRY Runs Call Money Rate Up
to Six Per Cent.
THE SYNDICATE OPERATIONS
THE SYNDICATE OPERATIONS
subscriptions to the United States Ship
building Company and the United
States Steers Dividends.
Spring Wheat Region.
(By Associated Press. J

NEW. YORK, Aug. l5.-The soIicitude
telt over the possible stringency of money
stock market of a furry in the cali money
rate to per cent The fact that Stocl
EXchange loans made on Friday carry
over until the following Monday make.
the customary demand on FRIDAY some.
what more urgent than on other DAYS The
special cause offered to explain to-day !
sharp advance was the maturity Of sub.
scripuons Tor the new Oregon Snort Line
Soilaterai bonds, secured by deposit OF
Northern Securities stock The paymen,
caiied Tor about fifteen million dollars
ano necessitated consic cradle shifting OF
loans to meet the payment. The rate
cropped back to near per cent near the
FED.
There have been number of syndi-
cate operations during the week. which
may upset calculations as TO the bank
were the payment of Subscriptions to the
United States Shipbuilding Company. the
payment Of dividend by the United States
steel underwriting syndicate, and the DIV
idend On United States Steel preferred,
payable to-day. So far as the indicated
cash changes promise, tomorrow bank
Tor time money advanced to-day to uni
form S per cent. for all periods. In re-
Spouse TO the higher money market there
were additional large offerings In the eN-
change market of loan bills as Well as
OF grain bills for September and October,
and also November delivery. The ex-
An incidental influence upon the weak
ness Of stocks was the report of rains in
the spring wheat harvesting region, which
affected the grain markets as well. AS
was to be expected, the selling pressure
was most acute upon those stocks which
have advanced most conspicuously Of late.
Missouri Pacific fell a full points below
last night and the other Gould stocks
and the Changers and Paciics generally
were affected in sympathy Southern
Pacific resisted the decline, but yielded
Its opening gain, recovering again to about
Louis Southwestern preferred also moved
up points over last night just at the
close. Pennsylvania, Louisville and Rock
Island had periods of strength. The
newest favorftes in the rumors of deals
were the Toledo, ST. Louis and Western
stocks. which were bought In demon
Strative way by the western speculative
party. closing at the top. The market
generally closed firm.
The bond market was generally easier
Total sales. par value, s23S5, 900. United
States refunding 2's advanced L per cent
on the last call.
The total sales of stocks for the day
were 900 shares including Atchison
15.700: Baltimore and Ohio ex-dividend
1900; Canada Pacific. 6.GHO: Chicago Great
Western, $500: Erie. 400: Hooking Valley.
1000; Louisville and Nashville 10000; Mis-
souri, Pacific $500: Missouri. Kansas and
Texas preferred, 27oo: New York Central.
200: Norfolk and Western. 1890: Penn
sy1vania, $500; Reading. 6.100; ST. Lois
and Southwestern preferred 13 900; St
Paul. 1,2oo; Southern Pacific. Ill $50: South
ern Railway. 1870; Texas and Pacific. 36-
Union Pacific. 11.0oO: Wabash. 52. 600: Anal
garated Copper. $500: United States Steel,
10000: United States Steel preferred, 600:
Western Union, 1850.