Omaha daily bee., 1906-12-11
NEW YORKSIOCKS AND BONDS
Firm Under Current Due to Confident HOPS
Of Action By treasury.
MONEY sTRNsENcY FEATURE OF DAY
Market is Irregular and Dun ~
Turns-Hm Group Lower on
Rumor Of InvestiEa-
ton.

NEW YORK. Dee 10.-Ths stock market
was stan In the throes q the money string
sncy today ana there was an occasl9ns.
sag IN the price level but support as
fuTthcorinF on these recessions AID re-
coveries ens1ed. The effect Of the money
s-rlugency, therefore, was scarcely AZ
pa~ert eEcept in the extreme dullnsss q
the trading, which Approached ElagnAuoh
at tines
uent OF ite confident hopes that the re
sumption Of trading TO-DAY would ma IN
force the plan q treasury relief tor ne
money market On Fricay and oaldTaAg
the belief was universal that such q meas
ure was ripe for announcement Ahs hrr1-
ness Of the market was the more reT11Ik-
able as such a failure Of speculative fore
casts b. almost sure 70 brlng certain
amount Of selling By room traders, VINO %
veloprlerts Tor a turn in the market. There
was no evidence Of severe pressure 10y
the reduction q loans outstanding IN STOCK
accounts. although borrowers we're obilgee
10 psy nigh rates again. This hey seemed
wiling Q do. and tLere was nothing 70 snow
forcsl Liquidation cue 10 w1thoraWal o.
credits, yet thirty-giEht q the nfty-four
banks IN the clearing house are below the
- Per cent reserve requirement. accurdiug
10 the detailed showing q the bank state
menL The cehuit q =, ftltH DeioN NE
legal requirement would call for a scaling
down Of loans IA Ordinary clrcunsla-lcas-
Last year the dehcit reported on Decerrt,er
3 was followed ~ q loan contraction The
following week q S11.00o0Q0- Cash also
flowed % New York and helped 10 restore
a SURPLUS II the I0llONlLH ht-h- NJ 4lA- y
vas there no sign Of loan coutracuon ba1
the forces Of depletion on the cash reserT es
Continued n operation The loss 70 the SUB
. treasury since the bank statement ts ~
81 90 and the government Institution was
q creditor al the clearing house today In
the sum OF t4EW. Also $4,000 was de-
uusit ed for transfer TO san Francisco
There was a further CLIP In fore 81 E Z ham.
rates and London advlces reported a small
sum q gold bullion secured In that marx e
for New York account Cash from Canada
is also arriving in New York 70 some eE-
tent, attracted by the high money rates
No important factor Of relief Of the money
situation developed, however, until the
the Treasury department and assertions
were repeated on alleged Information Of
the certainty Of early action 10 release
I government funds 70 the market pur-
chase Of government g. Of 1907 was pointed
4 70 IN the maj ority Of these rumors. Some
/ Of the large requirements for the month
/ in the money market fan within the pres
eut week including the Standard OIL divi-
A dend OF nearly G0p10.Og0 payable on the
18th. On the 18th are payable subscrtp-
/ tons 70 5000, 0Oe Of New York Contra
stock
A further break in the price Of NipissinE
4 u the outside market vas feature Of th'
day The announced intention Of the Inter.
state Commerce commission 10 look int
the present relations Of the constituent
Z companies Of the dissolved Northern SecuT.
} ties company was the assigned weakness Il
4 the Hi group. The market grew A.
strength when the call money rate ran OF
In the Afternoon. and rumorE became ven
positive PEain that assistance for ID,
money market ~ he United States treAsurl
Was Immediately imminent
Bonds were Irregular Total sales pa
value, s. .a0o United States Is advances
I = and the Old Is \ per cent on call.
The following was the range OF prizes o.
the New York stock exchange:
Nnf - T.