The evening world., 1905-12-07
KALLSZREET
THURSDAY, Dec.

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Students OF the monetary situation
say that there Is likely to be more or
less ~stringency, with high loaning rates,
until after the first Of next year, unless
relief Is given by the Secretary OF the
Treasury. For the time being the drift
Of currency Is away from New York.
Large sums have been shipped to San
Francisco, as well as TO various points
IN the South and West. Since last Fri
day the New York banks have lost to
the sub-Treasury $3l5S,OOO in cash, and
for the first six days Of this month the
collections OF Internal revenue were
about 5000, 900 In excess of the Treasury
disbursements.
There was a restricted demand for
call money to-day, Within the first
hour, on the floor OF the Stock Ex-
change, $4,000 was loaned at 10 per
cent. and about 100000 at IS per cent.
About noon the rate for call loans shot
UP 10 81 per cent The money situation
became the absorbing topic on Change,
and while the stock market remained
comparatively firm, the big operators
moved with more than ordinary caution.
A few OF the most active stocks, nota-
bly, Union Pacific and Amalgamated
Copper, advanced fraotionally when the
none rate was at is highest point.
Even tho most gloomy torebodings OF
financial s~tringency failed 10 dispel the
bullish sentiment that dominates the
market Several influential brokers
telesraphed to Secretary Shaw asking
him 70 relieve the situation by deposit
Ing |S,0o,@O or $50. 10000 OF additional
government funds in the New York
banks, sundry attempts were made by
big stock operators TO get bank prest-
dents to Join In a request for additional
government deposits, but 20 far a.
could be ascertalned the bankers de-
clined TO make any such request. II IL
well known that tho downtown bank
presidents are practically unanimous In
their opposition to the present bull
movement.
The trading to-day was Of a peculiar
character and ii Included extensive n.
quldauon OF pool stocks. A large quall-
tlty OF American Locomotive stock wa
disposed OF at prices claimed to be
about 70 per cent. above the POOLS pur.
CHASING price, This pool appears TO
have been more successful than some
Of the other bull pools. IL Is a matter
Of common remark In the Stock Elk
change that at least two pools have 30
over manipulated their stocks that they
now can find 30 outside buyers.
More definite facts regarding the new
pool IN Tennessee Coal and Iron were
disclosed to-day. There are ten men in
me syndicate, the leading spirits being
Grant B.. Schley, John W, Gates, c. s..
Guthrie and Oakleigh Thorne, II Is az
frmed that this syndicate has bought,
up to date, more than 10000 shares OF
Tennessee Coal and Iron common stock.
just what Is to be done with this stock
Is not explained, but Mr.. Thorne Is au-
thOrity for the statement that there Is
no Triton between mis- associates and
himself and other interests In the prop
erty,
An unusual degree OF interest Is man
&. Stod 10 the affalrs OF the Cincinnati,
Hamilton and Dayton Railroad system,
IN consequence Of ruInoTs that In the
reorganization now way the Pere
Marquette and the Monon are 10 be
separated from the c., II. and d. proper.
such a separation will entail a read
jlstment 81 the securities OF all OF the
roads. The holders OF a majority OF
re 4 per cent. Cincinnati Hamilton and
Dayton gold bonds have organized a
Committee 10 protect their interests.
"A agreement 10 being prepared under
which these particular bonds Will be de-
I0sItcd With The Central Trust Company,
Dubject to the authority OF the commit
tr,. II is no, expected that these bond
hoi6ers will take a position antagonists
u Receiver Harmon. A umo 10 ahoat
,rst after the reorganization Of the c.,
Ii and d. Is completed the property will
urain be offered to The Erie Railroad
without the Pere Marquette and the
MOnOn lines. Some OF the prsferrsd
and common stOckholdeN OF the Pere
Marquette RailrOad formed a protective
committee to-day. with Nathaniel ThAy-
or, u Boston, as chairman