Omaha daily bee., 1905-11-09
new YORK STOCKSAND BONDS
Reading Continues ItS Advance, with All
Other Shares Weak.
SHARP ADVANCE IN CALL MONEY
Decline Gains Cumulative Force a'
Day Advances aud Closing is
Lowest of the
DAY.

NEW YORK, Nov S.-Reading continued
Its surprising advance in the market today
while practically everything else went
went a considerable expansion, but this
was leargely attributable to the enormous
dealings In Reading, which had the market
to itself for long periods.
The relation between the rise in Reading
and the weakness in the rest of the market
was puzzling. An upward squirt in Read
ing usually preceded the free selling move
ments Of the day elsewhere. Whether the
excited advance In Reading awakened un-
easiness on the part of holders OF other Sc
curities for fear of a disaster to the shorts
in that stock or whether Reading was
pushed up in an effort to sustain prices
while realizing was conducted elsewhere,
were different conjectures open TO the
choice of observers. The desire and APP
parent necessity to liquidate stocks other
than Reading were sufficiently obvious.
This pressure was commonly attributed to
the exigencies Of the money situation, and
the contemplation OF the results of yester-
days election undoubtedly was an unset
Ting influence on speculative sentiment In
some cases. Taking the results as a whole
| there was no disposition to discern any
| thing conducive to corporation advantage
| or privilege in the spirit of the electorate
The course Of events during the day EN-
phasized the influence OF the money out
| look and gave a dominant effect in the
later trading. The banks are clearly sus-
| tanning further heavy cash losses out of the
| neager surplus reserve shown by Satur-
/ days bank statement The outgo from the
| banks since that statement on subtreasury
I
| day there were transferred through the
! subtreasury N,O5o,0OO to New Orleans and
100000 to st. Louis. This would be more
| than sufficient to wipe out the surplus as it
| stood on Saturday. There are heavy move
ments OF currency besides by direct express
| movement to the interior. Tne rise In the
| call money rate to the maximum OF the
year at 9h per cent and the movement to
reduce credit obligations by liquidation OF
| stocks therefore were not surprising.
| Neither was the check to the pressure for
| withdrawal of gold for export from New
| York to be wondered at In view OF the urg-
ent need for funds developed here. The
foreign exchange market, however. showed
no yielding tendency although II did not ad.
vance. The money situation in London and
in Paris seemed rather easier. the London
market evidently benehttnE from the re-
fux of funds from the British interior
points. The effect of the Berlin situation
however and of the advance in the Ger
man Imperial banks discount rate on Mon
day left open the possibility of an advance
tomorrow in tho Bank of England rate
Sterling exchange at Berlin underwent q
further sharp decline today. Besides Read
ing there were some other points OF
strength, mostly amongst industrial special
ties, the iron and other steel stocks hgur.
ments were attributed more to professional
operations than to any large general de-
mand. The decline gained cumulative force
in the latter part of the day, and the clos
prices Of the dav The special weakness
of Missouri Pacific was attributed to thj
moor comparison Of earnings with last year
The leadership OF st. Paul in the decline
. was of decided effect on speculative senti
, ment
Bonds were easv. Total sales. par value
81 go Co., United States bonds were all un
changed on call.
] prices on the Stock exchange today:
Sales. High. Low. Close