Omaha daily bee., 1905-10-20
new YORK STOCKSANDBONDS
Market Remains in Professional Hands and
Values Fluotuats Slightly,
PRICES LOWER EARLY IN THE DAY
Relaxation of Money Encourages
Trading and a General Though
slight Advance Fol-
lows.

NEW YORK, Oct 19-The stock market
remains in professional hands and the diff
Guilty of getting prices far from a given
level continues BY extending the declines
In force yesterday through the early part II
the day, vantage point was obtained for
the later recovery, and the days extreme
movement in consequence was rather wider
than has been the rule lately. The attrac-
ton to traders was thereby increased and
the market gained some animation. IL did
not appear that there was any reflection in
the market of outside developments. The
latter Improvement Of the day was con-
nected probably as much as anything with
the relaxation of the tension in the money
market. This was true of conditions abroad
as well as in this country, but the active
high degree of enterprise was undiminished
Inc immediate slight relaxation in the
money situation was not convincing there
fore OF any early return OF marked ease.
The retention of the Bank OF England
rate seemed to have been discounted in
speculative markets. The weekly return Of
that Institution showed that the recunera :
ton had been achieved by the purchase of
bullion at an advance in the bidding mar
ket and by borrowing funds from the open
market as reflected in the decrease OF gov
eminent securities. The expansion of over
100000 in the loan account however, in
dlcated new demand on the government
institution for credits incident to the rise
In the open market discount rate to above
the bank rate. The price of gold was let
down traction In the London market and
sterling 81 Ilg exchange at par IN Berlin moved
Berlin was also easier but hardened at
Paris to nat per cent. There was less
urgent demand here for foreign exchange
ana the rate ran of In the early dealings
but showed later strength The sub-trea.s-
ury operations are yielding return 10 the
banks on account OF the mld-monthly swell
ing OF the pension payments. There seems
TO be a lull also in the heavy customs re-
ceipts which have been going into the sub
treasury New York exchange also rose
again today to is cents premium which is
the highest OF the season, indicating a
cessation OF pressure from that pOint on
new YORK for currency. The recent drain
on the banks cash reserves thus seems to
be relieved for the time being There was
some selling Of stocks yesterday and early
today on professed apprehension of the
greet OF the presidents remarks at
The publication of the text Of the address
was followed by some demand from the
the sentimental effect OF the ALLEGHENY
bank failure was also relieved on further
consideration. The movement toward re-
coYery was most pronounced in a group OF
Industrial specialties. Reports Of traffic
blockades in the railroads both in the grain
regions and in the iron and steel industrial
centers and the resulting urgent demand
Tor additional railroad equipment helped
the railroad equipment stocks and the in
dependent iron and steel industrials gem
erally: The reorganization of the Republic
steel board of directors was regarded as a
promise OF aggressive policy by that cor
poretion The United States steel stocks
were rather laggard in the movement The
market campaign in Brooklyn Transit was
pushed actively. Amalgamat cd copper was
rather quiet but was inclined to heaviness
on the failure to advance the dividend rate
as there had been some buying of the stock
IN expectation OF an Increase. The presence
In the city of the secretary OF the treasury
gave rise to the usual discussion of the
Likelihood or government measures for the
cement or the money market. Stocks closed
distinctly firm but on a moderate volume OF
business. -
Bonds were irregular. Total sales. par
| all unchanged on call, ~
Following were the sales and range OF
prices on the Stock exchange today:
Sol t,-1. y gu