Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-12-05
NEW YORK STOCKS AND BONDS
Market Shows Further Unssttlemsnt, Due
to Disturbing Conditions in Russia,
HIGH RATE FOR MONEY ALSO A FEATURE
Banks Lose over Million
Dollars to the Sub
Treasury-CIOsinE
IL weak.

NEW YORK, Dec 4.-The stock market
showed much further unsettlement today
under the condition of widening Russian
disturbances and our own tight money mar
ket, As the day progressed these in
nuences seemed to lose their force for
time and stocks recovered their losses. The
upward movement of the later dealings
was desultory and spotty in the last de-
gree. The high grade railroad stocks and
the better known industrials played small
part In the movement and speculative &C
tvity was diverted again in a marked de
gree to stocks of a minor grade, especially
non-dividend paying industrials
Money continued In rather scanty supply
and loaned above s per cent from the outset.
Some OF the forces of depletion of bank
reserves also were still In operation. But
since the speculation has weathered 20
per cent rate this detriment seemed to lean
on the conviction that Fridays Is per cent
rate might safely be ignored, especially as
the strtngency was somewhat relaxed to-
day The banks are losing again to the
sub-treasury, the amount gone into that In
stitution since the bank statement was
made up already rising to over a million
dollars, while the credit balance at the
clearing house this morning indicated "a
continuance Of the drain. New York ex-
change at Chicago also rose to cents
premium against the 10 cent discount ruling
on Saturday. The money market probably
dividend and interest disbursements Of the
sums accumulated for the December l
settlement. Sterling exchange rates de-
replenished by bankers finance bills, the
proceeds of which went into our money
market. Discounts declined in London in
spite OF the sharp turn in the continental
exchanges against London. The movement
OF sterling exchange at Paris was particu-
larly marked. That financial center has to
bear the brunt of the disorderly conditions
of Russian finance. The slump in Russian
government bonds was reflected in free
LIQUIDATION OF other securities in which
Paris is largely interested. in order TO pro-
tect their holdings of Russians. The un-
deviating confidence with which French
holders of Russian securities held through
the strain of the Japanese war has given
way to condition OF mind bordering on
st. Petersburg must find some reflection In
other markets Of the world through the
Paris outlet.
Railroad officials gave out the reports
which have come to be customary, of pre-
vailing car shortages and freight conges-
| when inclement weather sets in and when
! the great corn crop begins to move. These
assertions OF volume OF traffic which II
| is hopeless to accommodate were some
what Impaired in their effect by the notice
| of a cut In export corn rates by st. Paul to
contest for that traffic with the gulf lines
Some attention was given to the increasing
| Issues of new stock and bonds of various
| corporations. American Telephone and
| Telegraph sold Off points on the re-
ported Intention to seek authority for new
| $100OO0,O00 convertible bond issue. Space
| forbids enumeration of the many special
| ties seldom active which made fairly sensa-
! tional gains. Their slight influence was
1 shown in the renewal of the weakness ir
| the late general demand.
Bonds were firm Total sales, par value
| 81 $4,000. United States new Is registered
declined y per cent on call.
Quotations on the New York Stock ex.
change ranged as follows:
/ Cal Itwl I Inao