Omaha daily bee., 1905-10-18
NEW YORK STOCKSAND BONDS
Call Money Market is Lower At Opening
and Spectators Begin Buying.
LATER THE RATE FOR LOANS ADVANCES
shares Bought Earlier in the
Day Are Unloaded and Most
of the Advance L.
Lost

NEW YORK, Oct. 17.--An increased sup
ply, Of loanable funds which appeared in the
call loan money market this morning
started the professional operators to buying
stocks. The rate for call loans recovered
later in the day and stocks bought earlier
were sold out. The result was a consider
able Increase in the activity in the market
over that OF yesterday and on several pre-
The days market forced the opinion that
large waiting speculation is restrained from
entering the market only by the exigencies
OF the money situation. The large supply
of funds early in the day at per cent was
offered by bankers closely connected with
the hotation OF the Japanese loan. This led
subscTiptlons paid on Monday were being
replaced in the money market When this
supply had been absorbed rates rose again
to near the prevailing rate OF yesterday.
Berlin exchange rose vigorously and the
supposition that preparations for remittance
Of japanese funds were factor in the ex.
change market caused feeling of distrust
of the easing effect caused by the placing
of these funds in call loans which presum-
ably would be only temporary. Reports
were current also of maturities falling due
on very large sterling loans which had to
be covered in the exchange market.
the market, that this extra demand is
effective in running up the rate toward the
gold export point, Gold was marked up
further In the London market and the open
market discount rate there rose fairly
above the bank rate. Sterling exchange re-
covered a fraction at Paris, but continued
downward at Berlin. the discount rate at
the latter point however. yielding a shade.
Heavy retrenchment was shown by the
| Imperial Bank Of Germany's weekly state
ment. Rates for time money In New York
were strong and the bid for six day loans
I was advanced to "a per cent with the ask
| ing rate at 81 per cent. There were no
! further transfers OF currency to the south
! through the subtreasury. while from San
Francisco there were additional large re-
! ceipts through that institution. There was
! some speculative discussion Of the proba-
bility Of the interior demand Tor currency 1T 1
| receive much countenance in banking
| circles. During the upward movement OF
prices the coalers continued conspicuous
| and the high-priced members of the group
made new high record prices. Beyond the
! general prosperity In that industry there
| was no news TO explain the movement
| oTSIations. The meeting being held In this
! city of organizations In the steel trade 70
| consider advances in the prices of different
! lines of finished products gave tiTm tone
to the steel industrials. The Republic Stee
! stocks were helped in addition by GOSSIP
regarding the probable dividend action al
tomorrOw's meeting. The announcement Of
the entry of United States Steel and Gen
| eral Electric interests into the American
| Locomotive directorate was taken TO eX
plain the previous advance In that STOCK
4 The coming meeting of the AmalFNmateC
Copper directors for action on the dtVidenC
| gave occasion for a speculative movement
| in that stock. A downward plunge In en-
cago Subway on the curb was an inciden
of the day. The days net movement wa
inconcusive and the closing tone was easy
and at small losses as rule.
Bonds were Irregular. Total sales pa
As registered declined y and the, new a
Following were the sales and range Q
prices on the Stock exchange today: c,..
gNA1H Il ferhI naNH