Omaha daily bee., 1905-11-18
NEW YORK STOCKS AND BONDS
Market Opens Active and higher on
InprOVsd Conditions in Russia
CALL MONEY TRANQUIL At SIX PER CENT
Speculation COncerninG Bank state
ment Attracts Attention, but
without Eject Upon
Values.

NEW YORK. Nov. 17.--stock market SEN
timent had become composed this morning
bounded at the opening. In many places
the first gains were widely extended during
the course OF the day, but the speculative
taste showed the same tendency towards
specialization as for some time past.
The money market was tranquil by COM
parison with the feverish tone Of the earlier
part OF the week and the prevailing rate ala
day was per cent. The action of the for
eign exchange market indicated that yes
terdays violent advance was due as much
TO the fright over Russian affairs as to the
relaxation Of our money market. The fur
Their decline In money rates today did not
push the exchange notably higher the
prices huctuating irregularly during the
day. Russian bonds recovered and formal
statement from the agency from one Of the
great French banks In st. Petersburg had
a reassuring effect there and cleared up
the panicky conditions I'm Russian financial
affairs. The comparative ease Of the money
market served as a reinforcement against
any apprehension that might be caused by
the preliminary estimates OF the week 8
currency. This indicated a further decline
In the cash holdings Of the banks, the es-
Inmates varying from less than 100000 to
upward of f3000,O00. OF this amount the
subtreasury has absorbed $4,000. There Is
no doubt that the banks have shipped cur
! reney on balance also TO the interior on
the regular exchange operations. With last
would seem TO indicate the necessity of a
much more violent contraction Of loans to
restore the legal reserve than there has
1eeh any luulcatlOn or IN the STOCK market
But II is believed that special movements
| of cash have taken place which serve
largely to Offset the apparent loss OF reg
ular exchange operations. Large amounts
| are known TO have been received from
4 Canada and II is current belief that ship
ments have been received from interior
points for deposit In New fork to be used
In placing loans in the stock market The
| loan account of the banks is expected, as
| a matter OF course, to show a large reduc.
ton. The failure Of tomorrows bank state
= ment TO show q restoration OF the reserve
! to the legal limit would undoubtedly cause
surprise TO speculative sentiment
The announcement of the issue OF New
/ York Central treasury stock to stockhold
ers at par was stimulating effect upor
standard railroad stocks, The announce
ment has been expected hut informatioy
varied as to whether the subscription priv
ilege would be at par or at 1875, the latte
being the rate at which the preceding issil
was allotted. Standard railroad stocks ha,
a more general share in today'e advanc
than Tor any day OF the week. Union Pa
ei1c.s 2-potnt rise was a notable effect OF
sentiment the recent immobility of tina
stock serving to discourage prominent Ell
ement In the speculative forces. The con
tnued violent advance in Reading and n
Smelling. however, kept the market dis
sides these two stocks there were a larg
number of others not usually prominen
i that made striking advances. The rise 4
prices of metals kept all metal Industrial
prominent Notwithstanding some nomina
proht-taking in the final hour the elosin
was active and strong and generally at tn
best prices of the day.
, Bonds were firm. Total sales. par valu,
$3,175,0o0 United States bonds were Ali mr.
changed on call
The quotations on the New York stoc
exchange ranged as follows:
GAN