Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-09-16
NEW YORK STOCKS AND BONDS
Advance in Money Rate Checks Attempt
Of Professionals to Lift Prices
MARKET IS DULL AND SLUGGISH ALL DAY
Fight for Control OF the wabash
system Causes Alarm Among Spec
uIntors-Enect of @, H
a ID. sale.

NEW YORK Sept lB-Ths money mar
Eet situation asserted itself on stocks to-
6 d ana cheeke SEQ the efforts by a.
the money situation was due more to the
prospect OF a poor bank statement than
TO any actual operations In the loan mar
ket although the per cent rate for money
on call registered the maximum for the
season thus far and served as an admoni-
ton Of the actual scarcity Of funds. Some
Of the news developments were OF a char
acter that would have been regarded as i'm
Swallowed almost entirely By the money
question.
The Demonstration for wrestling control
OF the Wabash system from It's present
hands caused sharp advance in the Sc
curities Of that company. But hostile
Sss are 0o q resbsd s,o Ana
operators and the effect Of the news on the
general list became rather depressing than
otherwise. There was a dread that the
contest might ven a struggle between vast
interests behind the nominal contestants
which might cause disastrous consequences
Contrary differences were drawn from the
announcement OF the passing Of control
1 OF the Cincinnati, Hamilton q Dayton
beeHed e the eec HS %6Tid Be- fb
| Of various claims. There was a dispo-
| sition to drawn an analogy with the Louis
vile q Nashville purchase regarding which
! Mr.. Morgan made a statement on the wit
/ ness stand that he was influenced by the
p psgdTSe 70 keep IL out 81 hangs which he
strength Of Chesapeake a Ohio. although
/ rumors also were in circulation OF an IN
tention to increase the dividend on that
/ stock
/ Estimates Of the weeks currency move
/ ment differed widely, but only by the
amount of their excess over the loss to
/ the banks by the subtreasury absorption
| OF funds This had reached So 10000 up TO
| THURSDAY. with one more day to figure in
the result as II will show in the bank
statement. The variations in the estimate
/ have to dc with the additional losses by
/ the banks through the movement by ex-
| press with the interior. In any event the
| decline in cash runs far above the total
surplus as II appeared in last weeks bank
/ statement. Another heavy loan contraction
/ must be shown by the banks, therefore in
/ order TO prevent the wiping out Of the
| surplus. There has been no evidence Of a
! withdrawal OF credits from the stock mar
| ket during the week and II is deemed
/ probable, in fact that some Increase in
market. Confidence is felt, nevertheless,
that the process OF shifting Of loans from
banks to trust companies has been con-
tinued in sufficient volume to effect the
! necessary showing of loan reduction by
! the banks and the conservation of their
| reserves within the legal limit Nothing
| developed from yesterdays rumors of fur
Their large gold engagements for import.
| A reduction in the price Of copper was an
/ incident OF the day. The volume OF sales
underwent considerable shrinkage for the
day and the dullness was progressive up
to the close. The days changes are mostly
unimportant
Bonds were irregular Total sales. par
value, $4,000. United States bonds were
! all unchanged on call.
The following were the quotations on the
ho