Omaha daily bee., 1905-09-13
NEW YORK STOCKS And BONDS
Engagement Of Gold for Import Causes
Decisive Advance in Values
VOLUME OF DEALINGS AGAIN EXPANDS
Promise of Bumper Corn Crop Causes
Advance in Corn Carrier RsiIways
Closing Is steady, with
Prices at Best.

NEW YORK, Sept. 12--The response OF
STOCKS TO- tue engagement OF gold Tor inn
port was testimony to the Importance at
ldChed 10 the question of reuef from a
POsslple stringency OF money. The advance
was ueClslNe ana comprehensive. following
pnoinpuy upon the announcement of the
ehsas sement. 1t was the common belief that
touay engagement of N,2tO,VV0 was pre-
urinary TO an extended inward movement
winch made this possible that the develop
ment was effective rather than from the
amopnt involved.
The fear was gaining ground in stock
market circles that insuperab obstacIss
would be opposed TO the reiinuuishment
on gold hello as banking reserves in the
great foreign money centers The obvious
intention of the Russian government To
noat large loan. the possibility OF addi-
SL SiSSnaL porroWlngs by Japan and the an
nouncement Of a large number OF smaller
financial undertakings which had evidentiv
Deeh delayed until the coming peace
pOIhted 70 the possibility that these claims
5S 1Ur credits would have priority over others
The course OF our own money markets
Tor the last few weeks has made n per-
Iecty evident that without some addi-
tlonal resources the extraordinary demand
Tor funds would exhaust the bankInF re-
serves 10 an extent that would cause great
tension In the money market and cause
uIsasler 70 oVer-eXtended speculation. II
Is now demonstrated that the outwa rd
course or our commodities has established
a ~ suHiCleht volume OF credits abroad so
tlat tne domestic money markets have a
resort for relief in case OF urgent neoes-
sity. The effect upon speculative sentiment
Vas pronounced. The gold seems to have
Deen secured upon its arrival from South
AlrlCa IN London, after rather active com
PtIIioh, ana the present supply availa BILE
Tor import seems limited The outgo of
currency from New York in other dlrec-
lions also continues very large The sub
treasury has absorbed already since the
iast bank statement. $3,5l5, 600 Shipments
Dy cypress are still going to the interior
ahu SJOO,OO was deposited at the sub
treasury today for telegraphic transfer to
san francisco. Time money rates continue
70 auyance in New York. and borrowers
ana taking out time loans. Discount rates
h ih LONDON rose again today but at Berlin
there was a slight recession in snite of
rate. 'P0i jain
The volume Of dealings today exnanded
someWhat, but was attributed very largely
70 professional sources. Commission
houses complained OF the lifeless outside
demand in stocks. The weather burea M q
weekly crop bulletin confirmed the preyaiI
ing confidence over the grain crop and
especially the corn crop. and the corn car
IIeIS were relatively stronger than the
rest OF the list. The special movement
! IN Sloss-Sheffield Steel was due TO the
declaration of stock dividend Prices
! t9uched the highest in the final hour, when
the market broadened considerablv and
Union Pacific, st Paul. Penpsviva nia 1isu
Erie and the United States Steel stocks
were In large demand The closing was
| staady at about the hest Of the dav
Bonds were firm. Total sales par va Inc
SI,sioCo. United States bonds were ali
The following was the range Of prices on
the New York Stock exchange:
Cfs.Na