Omaha daily bee., 1905-12-02
NEW YORK STOCKS AND BONDS
Progressive Decline Which Began Early in
the Week Continues
RATES FOR CALL LOANS HIGHER
Russian situation Affects Markets
Abroad and Depression il
Reelected in wall
street.

NEW YORK, Dec. 1.-There continued to
be individual cases of strength in the stock
market To-Day amongst the usually inactive
speciaities, Dut the effect in counteracting
the general depression was less marked
than tor the Garner days OF the week. Inc
effect OF these movements has shown pro-
gressive oecIne throughout the week.
The depression wnicn became dominant
in the market today mad Its most imIne-
uiate cause in the course of the money mar
ket. Not only was there a repetition of
the furry OF Wednesday in the can money
rate, but the interest rates on time loans
were marked up Sharply, and Tor sixty
day loans commission was exacted IN
addition to the 6-per-cent rate, wnicn
amounted to a premium above that rate,
The statement of the regular express
movement of currency furnished by the
banks, which covers only nve days TINS
week. indicates a balance in favor of this
center. But the heavy transfers to IN
terror points through the sub-treasury and
the losses to that institution on routine
operations are large enough to more than
onset the gain on the regular express
movement. Besides the loss thus Indicated.
which seems to be something over S2,OJOOJO,
the movement of gold to Mexico must be
taken into consideration. There has been
traced to this movement $l,7OO,0OO and 1t
is deemed possible that there has been
more sent which has not come to the
knowledge of the public. This movement
is attracting widespread discussion owing
price of silver bullion above the mintage
price of silver in Mexico. The buying of
Mexican coinage with gold IS thus "A pront-
able operation The effect upon the money
market here is watched with keen atten-
ton. How far the money market of the
day was affected in addition by the tenn
porary requirements of the December set
Elements was matter of some difference
of opinion.
The Russian situation was of more in
huence today than at any time during
| the disturbances in that country, even dur
ing the period of military reverses in the
Japanese war The effect here in the
MN nf for ON
was not very important, but sinister re-
| ports were In circulation in the financial
| district as to commercial and tinancia!
| conditions In Russia. Paris was reported
/ to be selling Russian notes in London tC
| secure gold and the sterling exchange rate
at Paris fell sharply in way to indicate
\ renewed pressure from that quarter upor
| the London money market. Sterling eX
| change here also fell sharply under tht
| offerings of finance bills prompted by hard
| ness of the local money market. Discount
| and money rates, however, eased In Lon
| don. The market must meet some un
filled requirements for the redemption OF
| bills. While the completion of the opera
ton will tend to ease money conditions
! in London the end of the year require
| ments will have to be prepared for a
| once. The same period offers special re
quirements to this market. New York eX
change at Chicago fell to 10 cents discoun
| today compared with par on Wednesday
| Something was made in the speculative
discussion of the approach of the assem-
bling of congress and the threatened rail
road rate legislation. The news of the re
linquishment by the Erie of the Cincinnati
| Hamilton & Dayton and its reversion L
j. p Morgan was regarded as explaining
the recent failure of the Fries to shar
| in the rise in the market owing to tn
| dissatisfaction now known to have beel
caused by that project. The lowest price
| of the day were touched in the last hal
| hour of the market with the closing ton
| easier. ..'
Bonds were easy. Total sales, par value
$2,925, 600 Unit I'd States bonds were al
unchanged
The following was the range OF prices o.
the New York Stock exchange: