Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-10-24
NEW YORK STOCESASDBONDS
Ind cations that international Restraint is
Being Exercised Over speculation.
MARKET SLIGHTLY IRREGULAR IN TONE
Measures OF Treasury for Relief
Of Money Market Net satis-
factory 20 Professional
Traders.

NEW YORK. oct n.-The stock market
today fell back In the condition which
existed last week before Il was upset oy
the unexpected advance in the Bank OF
England rate. The manner In which opera
lions were conducted gave ground for the
assumption. which was generally held, that
speculation. II was assumed tibet the
banking and financial world generally
would be glad to see restricted speculative
activity but with values maintained or
protected from any violent reaction. There
was some resumption OF pressure In the
early market. This was regarded as a
natural consequence OF yesterdays sudden
rebound and the extent to which II had
run. The effective recovery was accepted
as demonstration OF the passing OF the
first results Of last weeks money develop
actual meaning OF those developments
from the point OF view Of American al
fairs. Having effected this demonstration
the too rapid advance was checked and
( the market let down into the waiting and
/ resting condition into which Il had fallen
last week. The measure OF relief for money
/ requirements proposed by the secretary OF
/ the treasury was not expected. Additional
| bank notes and currency, while calculated
/ 10 help hll the demand for the interior
/ circulation, offers no basis for extension OF
| banking credits such as would be provided
/ by the additional banking reserves by re-
leasing gold or legal tenders from the
| treasury.
The london money market was under
stood to be the real point OF strain ana
/ the prospect OF relief for that point from
| other sources than New York was believed
/ to be more likely In the absence OF too
| sudden a relaxation OF conditions here. The
definite denial of yesterdays rumors OF a
large loan by the Bank OF France TO the
1 Bank OF England was for this reason taken
more account of than the difference OF the
treasury relief from yesterdays supposl-
tions regarding IT, The movement of ster-
| ling exchange in all markets showed the
| effort OF London's imperative call for the
return OF credits, but the bullion movement
/ Of the Bank OF England again showed 2
net outgoing to further shipments 10 Egypt
Open market discounts In London, however
were slightly shaken. The early strength
OF sterling exchange again today gave
place to some reaction when cotton bills
appeared in the market.
Call loans opened at 81 per cent ana re-
ceded from that level. II Is clear, however
that financial sentiment is well agreed az
20 the wisdom Of moderate, II any ex
tension In speculation while requirement.
confront the money market as heavy al
those to be met In the coming months Wher
the early selling, which was partly on &C
count of stocks bought yesterday to sup
port the market, was over, recovery Sc
In which became practically complete II
tho final hour, although there was slight
~ irregular tone In the final dealings.
Bonds were heavy. Total sa.es, pa
value, S.7iSO00. United States bonds wer'
unchanged on call.
Quotations on the Nov York Stock eX
change today were as follows