Omaha daily bee., 1905-11-11
NEW YORE STOCkSAND BONDS
Rate for Gall Money Again Advances ts
Fifteen Per Cent
MARKET ABLE TO RESIST THE PRESSURE
Spectators Pay the Price for Funds
and Hold Their stocks Hoping
FURRY VIII soon be
over.

NEW York, Nov. lO.-The rate for call
loans went 10 10 yer cent again today and
banks for the week on the currency move
ment ran from $s,vVv,JOo to nearly $l5vOv,vO.
Nevertheless, stocks showed effective re-
sistance 10 pressure and later in the Gay
ue, eiOped aggressive strensth.
The conductors of the Speculative opera
tiOns for an advance seemed to have come
to a concerted determination TO ignore the
strinsency IN the money market as an in
1uence on sentiment and 10 pay the pre-
Waning rate from day TO day loans and
sion of the money situation, which went
on all day, much was heard Of a claim
or a complaint that the apparent strinseney
in the money market was the result Of
manipulation and was designed against i'm
portant speculative pools in special stocks
The comparative tranquility of other de-
partments of the money market was
pointed to as corroborative Of this view.
II was a view that did not receive much
countenance in banking circles or outside
of speculative circles about the Stock Ex-
change. A decline of sS,O00,00o to 900
within week in the cash holdings OF the
banks, with the surplus reserve at the
beginning Of that period down to S2,ss427s,
while speculative borrowing continued into
| this week in attempted extension of opera
tions for the advance at some points seems
suff1cient explanation for the necessity on
| the part Of the banks to curtail loans. IL
! is by no means unusual for interest rates
| for commercial houses to be held down to
\ per cent rate in the midst of violent
| hurries in the call market on the Stock Ex-
| cnarge. IL Is TINS comparative tranquility OF
com nsrcial Interest in rates hat is offered 10
| explain the reluctance Of the secretary OF
the treasury to take any measures for
the relief of the money market as far as
| the speculative needs are concerned
| The weeks operations of the banks with
| the sub-treasury alone, show loss OF
| $5,127 .000 the variation in the estimates OF
| the total cash loss having to do with the
i amount OF the movement by express I'd
| the interior which all the banks agree
| however has been heavy.
TIE high rate for money is an effective
| barrier aRainst foreign pressure for funds
! upon the New York, and foreign EXCHANGE
made a further wide decline today. This
| was in spite of a hardening Of discounts
| In Paris and Berlin. Offerings Of bankers
bills in the exchange market against loans
placed in the money market was the prin-
cipal factor in the weakness OF EXCHANGE
The attractive level of money rates was
said to have induced large offerings from
outside centers for account Of corporationi
and capitalists at different points in tbs
| country. THE calling Of loans on the part
| Of local banks. however. bent up the rate
| most of the time above II per cent For
| eign markets. were discouraged again bN
the Russian troubles, as shown nv tn,
| fall In Russian bonds There was III
| further transfer Of CURRENCY IN the interior
| throush the suh-t-ea surv todav. ard thi
had some good effect on sentiment. 1t wat
pointed out In iris connection that tn,
government institution thus far IN Nove-n
her. has already transferred 81 l5n mn 10 tn,
interior, conrared with n total FOR tn
whole of last Nnvnnnher OF - T20 mo. TIL
activity Of the Stock n,artat Diminished
Rood deal in the late dealings, but Their,
were only SNAIL concessions from the hes
prices. and the closing was fairly steady.
| Bonds were irregular. Total sales pa
value, sS.22O0oo. United States Is advances
a per cent on call.
| Quotations on the New York Stock ex
| change ranged as follows: