Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-09-05
FORTY PER CENT
FOR CALL MONEY
Better Prices for Americans in
London Did Not Prevent a
Mixed Opening.
BUYING WAS RESTRICTED.
While There We're Some Gains Early
Monetary Conditions Had De-
pressing Effect.

New York. sept 5-Money on call on
the stock exchange today loaned al the
outset al II per cent and quickly advanced
10 q per cent Yesterdays hurry 10 81 per
cent. the known condition Of the
banks as disclosed IN Saturdays bank
statement togther with the course Of
the currency movement since gives tho
explanation Of the action Of the money
market with the surplus Of reserve above
legal requirements a. shown by the bank
statement down to S2s6s.D0 and with
drawals since the period Of the statement
on subtreasury operations Of N4i5.0p) and
"a continued outgO OF cash to the interior
by express the exhaustion OF the lOaning
powers Of the banks is made clear.
Calling Of loans Ia the stock market put
q stop 20 early moderate rises and Turn
ed prices downward
At 215 p. N. call money was quoted at
W per cent.
Uniform advances in Americans in
London did not prevent thoroughly mix
cd tone IN the active speculative dealings
IN stocks al the opening here today, The
Hartman Pacihcs. ST. Paul Pennsyl-
vania, and other recent speculative favor
ties. showed some fractional gains, but
"a
Northwestern and American Ice rose
about point and d. & r, G., sugar
large fractions. Northern Pacific, B & o,
Chesapeake 4 Ohio and National Bis
cult declined = 10 a
Under the stimulus OF a good demand
for Reading and Atchison, the market
shook on its uncertain movement and be-
gan to rise Stocks that had been depress-
ed rose and the list sold a good fraction
above yesterdays closing AtChis1n rose
a point Reading IL, and Great Northern
preferred IA. Near II o'clock when optr-
ations commenced IN call loans, AZ IL per
cent bid. prices weakened and there was
a sharp decline to wen below the ffst
prices. Great Northern preferred, North
ern Pacific smelling aud Consolidated
Gas yielded PORTS under last nlght ~
a o. and Lead ~. 81 Paul, Union Pa
cihc. Brooklyn Transit and Hide and
Leather preferred n 60 Is. ana North.
western j. & H.. l. & n Amalgamatei
copper Republic steel and United
States Rubber /
Canadian pacihc's decline ran 10 p. 81
Paul . Northwestern. New YORK cen.
trail Colorado Fuel and North American
~ 10 IA, Pennsylvania and I. 5. steel
preferred l. Selling pressure then relaxed
and there was some recovery. smelling
rallied "a and Union Pacific. New York
Central and BROOKLYN Transit ]. Tho
market became dull and uncertain al the
rally.
Bonds were easy al noon.
A good rally set I'm after 10 o'clock on
rumors ~ gold engagements Smelling,
which had been notably weak earlier was
lifted 20 l5ii4. a gain Of "a Achison re-
bounded 10 l0s and 81. Louis Southwest
ern preferred also improved a point. 9th
er stocks opened n yesterdays closing
figures or above Realizing caused irregu-
iarty Smelling reccded IT..
Selected stocks we're taken up for an
advance but the general list did not re-
spCnd greatly Buying throughout was
contracted by the stringent money condi-
tons Great Northern preferred gained
o. and Union Pacific, New York Central
Amalgamated Copper IL to l'.