Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-11-21
NEW YORK STOCKS AND BONDS
Principal Feature Of Day is an Advance Of
Six Points in Illinois Central
sUMoR OF BUYING TO PERFECT CONTROL
Another Report Is that 81. Paul and
Southern Pacihc Are 20 he Merged,
with Central as Holding
Company,

NEW YORK, Nov. O.-The restraint Of
the stin rates for call loans was manifest
In the days stock market. Its action sug-
gcsted that the speculative demand would
have halted more completely had II not
been for the bracing euect OF the sudden
and violent advances which occurred at
different times during the day IN different
stocks. These special movements were UNI
explained by authoritative news, but there
were Plenty Of rumors OF more or less
plausible seeming. Tho 6-point jump in
Illinois Central was the most conspicuous
do with the supposed relation Of the prop
erty to the project OF working out In re-
gard to St. Paul. II was alleged on the
one hand that ST Paul and Southern Pa
cihc were to be brought into more init
mate relations by an interchange or STOCK
holdings and that Illinois Central was to
figure as the holding company for the
merged property. Another rumor was that
urgent buying to perfect the control OF
Illinois Central in view of the internal diff
ferences in the company was responsible
for the upward shoot in price. The move
ment In Louisville & Nashville owed some
thing to sympathy on account OF the anala-
guus conditions and territory Of the two
roads. There also we're surmises on the
possibility Of dividend increase for Louis
willie & Nashville and its subsidiary COM
panies shared In the strength Rock Island
was the subject Of stories Of an acquisition
OF control Of Colorado & Southern, which
met with official disclaimers.
ST. Paul was feverish and irregular. re-
acting constantly from its vigorous ad-
vances. One or two of the industrial spe-
clalties made similar spurts, notably Cen
era! Electric and Peoples Gas. The manner
in which these movements were conducted
proved rather convincing to sentiment and
/ their lack of influence in sustaining the
market became more marked as their
number grew and the absence of IN
telligible ground for the movements became
remarked. II became evident soon after
the money market opened that the tight
ness of yesterday was aggravated rather
than alleviated. The opening rate of 8
per cent soon gave way to per cent and
yesterdays maximum of 9 per cent was
touched and passed early in the afternoon.
AS known conditions seem to be moving
in favor of the banking position this sensi-
tlveness of the market to the demands Tor
the speculation proved disturbing. New
York exchange at Chicago rose to 20 cents
! premium per $1,000 making the continued
| flow Of funds towards this center. The re-
ports of condition of banks in other cities
In response to the controllers call as Of
November y are perused with interest and
show the general expansion OF credits and
/ low state reserves sustained In comparison
with the showing under the previous call
, in August. The tone was firmer in the
! time money market also, in sympathy with
the rise in call loans. The days gains
were much impaired or entirely wiped out
| with the rise to 10 per cent in money and
/ the closing was easy with mixture of
net losses.
! Bonds were irregular. Total sales par
/ value, 81, 7l6,O0O. United States old Is regis
tered declined u per cent on call.
The following was the range OF prices on
4 the New York Stock exchange
Sales High. Low. Close.