Omaha daily bee., 1906-11-06
NEWYORK STOCKS AND BONDS
All Operations in the Wall Street Market
ssem to Be Under Restraint
MONEY RATES SHOW HARDENING TENDENCY
Traders Seem IndisDosed 60 Make
Market Commitments on the
Eve of the Election
Holiday.

NEW YORK, Nov. 5.-Operations in
stocks were under some restraint today,
due prlneipaly 10 ma hardenlhs tGnoehoy ,so o TIN m
eve Of the election holiday, causing the In
variable indisposition TO make market COM
mtments with an interval OF closed mar
The action OF the money market was a
disagreeable surprise, as the passing OF the
November settlements had been expected
to result in some return Of money TO the
market which was only temporarily with
drawn for the purpose Of dividend ana IN
terest disbursements. There Is growing
disposition also to count upon the end OF
the interior demand for currencY for har-
vesting purposes as within distance. New
York exchange at Chicago, In fact rose to
par today, as compared with 45c discount
at the beginning Of last week This move
ment Of Interior exchange may be attrib-
utabe in part of course, to the rise in the
local money rate, which has attracted some
offerings of interior funds In this market.
Estimates Of the shipments OF currency TO
Ine west by Chicago banks make the move
ment much heavier than in last year for
October, while the movement from New
been less. This would Indicate a cOnsd-
cradle effect yet to be felt In New York
from the vests demands for currency. But
IT was believed that the principal inhu-
ence on todays money market came from
the other direction in connection with out
standing credits I'm London. Neither of the
last two bank statements here have shown
any effect in loan item from the shifting
OF loans from London to New York. Ac-
COUNT IL taken also OF luIlueT bCdlllh uoWU
Of accommodations to New York borrowers
In future stock market settlements In Lon
don. The London Statist. speaking after
the last stock market settlement, said
| Trade never was more active in the United
States and the value OF stocks never was
more real, but the account being carried
over here Is too large, considering the
| funds available for the purpose. IL Is un-
derstood, however, that large accounts have
| been transferred from London to New
| York. Unfortunately, fresh accounts TO be
dealt with were found to be larger than
| has been anticipated IL Is essentially
| necessary tnat before next settlement
/ comes on the American account should bt
materially reduced" The stock market set
| tlement referred to by the Statist occurs
| next week. Today there was some inclina'
/ tion to ease in discounts both in London
and Paris, but the Bank Of England has
/ not yet made any progress In the recupera'
| ton of its reserve. This is regarded al
| necessary in preparation for the require
ments to be met at the end of the year
| The opinion continues to be expressed II
! London advices that the bank rate woulC
| be raised to per cent II that measure Il
| found necessary to attract the desired in
| flow of cash reserves to the bank.
| The days operations were largely in pro
| fessional hands. There was accumulation
during the first hour and some profit taking
| late in the day. with an irregular closing.
Bonds were steady; total sales, par value
! the new 4s IS per cent on call.
| Quotations on the New York Stock eX
| change today were as follows: