The Montgomery advertiser., 1905-10-07
WALL STREET REVIEW
DEFINITE OUTCOME OF
 MONEY sITUAI0N.
Speculative Interest Pretty Well Gone on New York Stock Exchange. The Call Loan Hate
 is Still High.

New York, Oct. 6-Speculative inter-
 est pretty well died out or the maIhe.
 today and the determination seemed 10
 come of the money situation. The rate
 for caI1 loans did not rise to hign
 level of yesterday, but the average
 rate at which call vns3srGay m9seX was some of
 the trust companies were reported 10
 be calling loans and this gave the i'm,
 pression that these institutions naa
 about reached the limit of their ability
 to relieve borrowers from the banks
 by transfer of loans, process whicn
 has gone on steadily for several weeks
 past. This being the case case; ana at,,, w,1n nnn interrupted, an actual contraction or credits would be indicated for the inn
 mediate future rather than the shift ing about of accommodations to en-
 able the banks to preserve the semD-
 lance of surplus which has gone on
 up to this time. The probability of
 MeaS n for 0eon [ssn1a TSere the chance that the readjustment of the in
 congruities presented in last weeks 5
 bank statement may throw over some ing operations into this weeks state-
 ment. This may affect the showing Of
 the loan item which the calling of
 the Tssk ss taken from the banks thus far this
 week only s1 900 as compared with nearly $7,000,00O last week. But eSt1- mates by bankers of the regular move ment of currency to and from the in- terior indicates a sufficient balance Of the movement against this center to bring again cash loss for the banks to $6,0o0,000 or $7,o00,o ,o00. Next week it Is expected that preparations will be- gin for the payment at the end of the week Of the last instal1ment on Japan csc loan subscriptions. which calls for a maximum of about $30,000,000 modf- fed n the exfanf that naYmantQ In full may have been anticipated.
 Foreign money markets were some- what disturbed also by the money po- sition. Paris selling investment securi- was a slight reaction In the discount rate at Berlin. but the rate advanced in London to within a shade of the bank rate and there was an upward reac- of sterling exchange in Paris. It could not be learned that any part of the days large arrivals of gold in London had been secured for New York. but a
 report was circulated here that yes- terday's withdrawal of $4,400,0 900 from the Bank of France was destined for | New York and not for London, as was reported yesterday. Intimations from | form for issuance of Panama Canal bonds took their place with other sub jects bearing on future requirements upon the money market News of the  | est and was of scarcely any effect. Re- ports of railway earnings for August. | including those of the Hartman Pa | cifics and St. Paul were notable for the large portion of the increase in gross | earnings which was absorbed by in- | creased operating expenses which, in | the case of St. Paul was sufficient to leave only a nominal increase in the net earnings. The rate for sterling ex- | change went lower here in response | to the stiff money market. Exports of of 992,290 bushels fromf those of last week, thus explaining the scarcity of grain bills In the exchange market. The downward movement of stocks was | generally recovered before the end of the day on a dull buying market The closing tone was irregular. Bonds were irregular. Total sales | tpar value), $2.280. 900. United States bonds were all unchanged on call.
 NEW YORK STOCK LIST.