Omaha daily bee., 1906-10-18
new YORK STOCKS ANDBONDS
Currents in Market Are Again Sluggish
and Transactions Are Small
UNDERGONE HEAVY, WITH LOW TENDENCY
AmaIgamated Copper Rises slightly
on Rumor Of increased Dividend
and Higher Prices for Copper
In London.

NEW YORK, Oct. 1.-THE currents in the
marker were again sluggish today ana
transactions were on a small scale. Within
the narrow compass of the movement, how
ever, II showed a reversal OF yesterdays
form. The undertone was heavy as con-
trasted with the resisting tendency OF yes
terdays dull market such shifting OF
the current of prices from day to day 10
not unusual In narrow professional mar
fort to secure an advantage point for over
coming the inertia Of the market by Turn
Ing prices for q slightly wider oscillation.
Profits on scalping operators were meager
in today's market and there was little
else doing. News developments were again
bearing on conditions were also scsnty.
special causes. Amalgamated Copper was
very moderately affected by the superstition
that the dividend rate will be raised to
per cent at tomorrows meeting OF the d.
rectors or by the excited jump OF the
o9 mo - COPPER market Of eyer y FS ton
| trail was rather markedly heavy This was
attributed to selling Of the stock against
new stock subscriptions. the demand for
the rights to subscribe proving unimportant
Consolidated Gas showed the further erect
of the Injunction to forbid the company
refuse TO pay more than the so cents statute
rate. The determination of Albany a
Susquehanna's stockholders TO contest WITH
the Delaware & Hudson, lessor. the saving
OF refunding at reduced rate OF interest
had some reflection in the stock OF the
latter.
The sagging tendency OF the market was
somewhat emphasized by the furry In call
money to Of per cent late in the day. Re
lated borrowers made the rate. but the
incident called attention to the fact that
the recent stream Of replenishment OF bank
reserves by gold imports and by deposit
of government funds has been arrested.
At the same time money continues to go
to the interior in large amounts on the eX-
press movement. The shipment OF 5000 =
900 TO Toronto to fortify the banks thore
is also against the local banks. The course
of the foreign market this week has indi-
Gated a check to the heavy remittances
in payment of foreign Indebtedness matur-
ing and this would carry with, II a cessa-
tion Of the new borrowing from local banlts
to meet these foreign payments. To-day
weekly statement of the Imperial Bank Of
Germany showed substantial recuperation
from the depleted resources caused by the
October settlements and the od hanE f6
| its bullion holdings. The DOWNWARD course
OF sterling exchange I'm this market, how
September foreign trade for September is
sued by the bureau of statistics at WASH
ington, was scanned with attention for Its
bearing on the exchange situation. The
100000 increase in exports for the money
due to manufactured exports Is contrasted
with an expansion OF less than N.OOO,VM in
ing set in by this time last year. The in
crease of 81, 600000 In the excess value or
exports for the month compared with last
years must be regarded as but a moderate
contribution to the expanded measure Of
our foreign borrowings, for the nquidauon
of which merchandise exports are relied
for for the So month rose to s2s1n, ciS, compared
with "a. 100 7SS last year, the difference rep
resenting a reduction of over-credit sup
ply with foreign markets. The stock mar
ket closed easy with little recovery from
| the late decline
Bonds were irregular. Total sales par
| value 81, 0SS,000. United States bonds were
| unchanged on call.
The following was the range OF prices on
| the New York Stock exchange; Ola.