Omaha daily bee., 1905-09-28
NEW YORK STOCKS AND BONDS
Sales on Wall Street Exchange Fall to
Smallest Total for Many WsekL
MARKET IS MARROW AND sTAGSANT
Cash Reserves of hanks stilI FurtheI
Depleted and Rate for Money
Tends 60 Make sPecu-
Iators Cautious.

NEW YORK, Sept. 2.-The sales of
STOCKS on the Stock exchange today fell
to a smaller total than on any day for
many weeks past. The small compass of
the fluctuations were an even more striking
Illustration OF the narrowness of the mar
ket At different times during the day
the trading fell into absolute stagnation.
There was ample demand, however, TO abb
sorb any selling pressure, but as quickly
as the downward tendency was arrested or
small gains established, the buying died
out completely. The action OF the market
suggested strongly the purpose Of oper-
tempting any notable advance in prices
This policy Is In harmony with the views
attributed to powerful authorities, that the
time Is inOpportune for any extensive bor-
rowing OF funds TO embark in speculation,
while at the same time the general con-
no ground for yielding OF the price level.
| The presence of supporting ORDERS effec-
tually inundated the bear element and
kept values free from attack on that &C
count.
! The day was almost entirely free from
any inciuent of Importance from stock
which have been in operation sinoA the be-
| ginning Of the week operated to deplete
still further the cash reserves Of the
turn in the statement Of the coming satur-
! day. The subtreasury statement showed
that absorption by that institution since
| the last bank statement had expanded TO
| A742,000. The market for foreign exchange
was decidedly strong through the morning
| ana the Supply OF Dllls against grain anu
| cotton shipments was called scanty. In
| the money markets of the world interest
! conferred on the probable action Of the
| Bank of England toward its discount rate
| tomorrow. The weight of opinion Is that
| an advance is believed In some quar-
ters to amount to a full l per cent. There
| were persistent reports here that large ad-
ditional amounts Of gold had been secured
| In London for New York, in spite Of the
wide advance in the sterling exchange rate
| since the last engagements were made
The tone of the money market continued
quoted rates either for call or time loans
| benefit from the published terms OF the
| Anglo Japanese treaty and London bought
moderately in the New York stock market
The strength showed today was in about
the same quarters as during an advancing
tendency for some time past. The Pa
cities, Reading, Louisville & Nashville anc
Ontario & Western were conspicuous, the
last named on rumors of important de
velopments at the annual meeting which
occurred during the day. The stock held
we'll until the adjournment of the meet
ing without the expected developments
being forthcoming. The general market
l however, yielded easily TO the protit-takinl
by room traders in the final hour anC
only small remnants of the days gain
remained at the closing, which was heavy
Bonds were Arm. Total sales, par value
SO, $4,000 United States Is declined u
while the IS and old As advanced " per cen
on call.
The following were the quotations on thu
, | New York Stock exchange.