Omaha daily bee., 1906-08-24
NEW YORK. STOCKS AND BONDS
Market Opens Irregular on Hardening Of
Rate for Call Loans
HILL AND HARTMAN ISSUES HIGHER
Traders Take Cue IRON London,
where Demand for These shares
is Active - bank situation
Develop. weakness.

NEW YORK, Aug. 9s.-wlth call loans
opening at per cent, further hardening
Oh the rates Tor time accommodations ana
no material change for tne better in the
weak bank position, Il was entirely natural
That today ) stock market should develop
an Irregular tone.
Trading at the outset was very heavy,
especially In the Hill and Hartman issues
and at generally higher prices, the market
appal ehtly taking its cue from London,
Where a keen demand for American securl-
Ties was reported. 1t would be interesting,
however TO know just how much of this
demand was for New York account. Zoe
most interesting feature of the day de-
yeloped with an alleged plan of the secre-
tary OF the treasury 10 refund, at an early
gay the four per cent bonds Of 1907. This
issue amounts to almost Sllf, 90 900 and
runners mad 1t that the government, as
reief measure, might anticipate the re-
trement OF these bonds with the proceeds
OF the new per cent issue. The pos
sibilities of this plan opened the way to
mucn discussion. Trustworthy Informal
foundation for the notion that the secre-
tary contemplates renewing his gold an
ucipation" order OF last spring. Pressure
on the local banks were slightly reduced
by the secretarys action in depositing
$s,OOOOOO an interior banks. Foreign ex-
change developed increased weakness but
the situation, with regard to gold imports
IL still without change. Advices from
London indicate that Russia is negotia
ting for the next consl gnment of the meta
from South Africa and may outbid Ameri-
can bankers.
The return of the most conspicuous figure
in the Great Northern and Northern Pacific
properties was the signal for renewed
upward movement in these issues, which
shared honors at the opening with Union
Pacific and United States Steel. The Hill
stocks fell back later, however upon au-
thoritative statements that no immediate
announcement 10 likely concerning Great
Northern or It's ore lands. The early rise
high record for Nthis movement savors
strongly OF manipulation, though trade
conditions, according to competent authori-
ties, are better for the current month than
at any time In the history Of the industry.
Manipulation was also marked feature
OF the movement In the Copper shares, the
strength and activity of Anal gamated and
Anaconda being accompanied by reports OF
larger dividends. Incidently, these issues
were helped by an increased dividend in
the shares of a minor company and the
hmness of the metal in London. A cursory
glance over the list shows that the days
business was limited in large part to half
score of the more active stocks. They
included United States Steel, Union Pacific,
Reading, Amalgamated and Anaconda Cop
In the afternoon was hardly In keeping
with the pace set during the morning ses-
sion. business falling to relatively small
proportions, though prices were holding
well. In the final hour call money was
freely offered at 3h per cent. but this was
ing. much OF which was presumably in
duced by fears Of an unfavorabie bank
return at the weeks cpd. Aside from the
was reactionary and lower, Great Northern
losing practically ali Its gain and the
granger group as a whole selling lower.
The closing was active but Irregular. some
ground was recovered by the banks in
their operations with the sub-treasury, but
their loss is still In excess Of A,500.o0o. The
only railway return of Importance was that
of Chicago q Northwestern, showing an
increase In gloss for July of $5S2,000
Bonds were easy Total sales par value,
81, $500 United States bonds were ali
unchanged on call.
Following was the range Of prices on the
New York Stock exchange: