The Washington times., 1902-09-17
HIGH MONEY RATES
DOMINATE MARKET
Ruling Figure for Call
Loans Now Averages
10 Per Cent.
FOREIGN GOLD COMING IN

ReactionaTy Tendency in the Afternoon
Reflected in Stock Dealings-Many
Shares Recover Partially From De-
clines of the Opening Hours.
NEW YORK. Sept. 16.--Interest il
Wall Stree. was dominated again toda!
BY the monetary conditions and outlook
and this fact directly contributed to 9
further considerable contraction in the
dealings, for which the principals oil
commission houses were largely re-
sponsible. Notwithstanding the lighter
volume OF trading. the stock market
showed hardening tendency which was
not only due to the reported gold I'M
port arrangements, but to the more gen.
cral belief that further and more CON-
prehensive monetary relief vii, be
Forthcoming in the now improbable
event of acute financial disturbance.
The current reports that Secretary Shaw
is disposed to deposit Government money
in the national banks on security other
than Government bonds do not find ac-
ceptance. 1t is intimated, however, that
the Secretary has by no means reached
She end of his resources.
Gold on the Way.
In addition to the s2,500.000 in gold
that will be diverted by the National
City Bank to New York, that institution
was generally credited with a direct
purchase of about $780, 900 in gold in the
open market in London for direct i'm
to this bank will arrive within a week.
There is also sl,250,oO0 in gold on the
way from South Africa to a prominent
New York banking house. Payment will
be made tomorrow, probably over the
subtreasury counter, for the lot of
500. 900 in gold or thereabouts received
for account of still another banking
firm.
The limited dealings in railway stocks
were fairly we'll distributed and although
in the early trading declines were sus-
tanned by some of the more prominent
railway issues, the market. after a spell
OF listlessness, developed brisk rally
ing movement SO that final prices in the
majority of the list showed net gains.
Due to High Money.
The early losses averaged point and
were due to the high opening rates for
call money. The extreme figure was Ii
per cent and the ruling rate 10 per cent,
the last loan being made at per cent.
The reactionary tendency in money in
the afternoon impaired steadiness to the
market for foreign exchange. Missouri
Pacific led in volume of dealings and,
at recovery of point from the low
est price, finished nearly / per cent
above Mondays close. Union Pacific
came next in activity and made an
equally good rally from the early de-,
preston, but the net gain was slight
Small net improvements were also es-
tablished by Atchison common, Balti-
more and Ohio, Southern Pacific. and
Illinois Central, while Pennsylvania,
Wabash preferred, and Manhattan Rail-
way enjoyed gains on the day, extend
ing to 15s per cent in the first men
toned.
st. Paul Receivers.
st. Paul recovered almost all of an
early decline of nearly per cent The
Wisconsin Central issues were fairly
active and scored the greatest improve
ment in the railway list. The common
left OF * and the preferred 2% per
cent higher. In the miscellaneous stocks
Int Talo ~
higher than yesterday. The Detroit
Southern issues were only moderately
active, but participated in the rallying
tendency. and closed at fractional net
improvements.
On light transactions substantial net
gains were made by Chicago Terminal
common, Fort Worth and Denver City
stamped, Iowa Central preferred, and
Wheeling and Lake Erie common
United States Express, on nominal DEAL
ings. left off per cent higher
In the industrial list fractional i'm
provements were recorded in Amalga-
mated Copper and Colorado Fuel and
Iron. and gains of point or more were
established In Cast Iron Pipe and Foun-
dry preferred and Peoples Gas.
Curb and Bond Markets.
The railway bond market was only
moderately active
The curb market was inactive, but the
tone was mainly firm.
The stock market quieted consider
ably toward the close, but left off gen.
orally firm in tone.
New York Stock Exchange, Sept. I6.
The following table shows the high
est, lowest, and last prices OF all stock
sold on the New York Stock Exchange
today in amounts of 500 shares or more,
and the net changes from yesterdays
closing prices: