Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-08-11
NEW YORK STOCKS AND BONDS
Promise Of Bumper Crops Causes Hardening
Of Values Early in Day.
MARKET SOON FAILS INTO TORPID STATE
Rising Rates for Call Money
Keeps Transactions In Marrow
Channel - Close A.
steady.

NEW YORK. Aug. l0.-Today's stock
market was held suspended between the
influences OF the rising rates on call money
ernment's report on the condition of the
OF prices Of stocks following the publiea-
ton Of the government crop report, which
served only to about restore prices to where
they left OF last night But the market
fell back again into a torpid state after
The promise of the crops, according TO
the estimates Of the Agricultural depart
ment, which served to explain the growing
barrassments in the situation, due to the
heavy over-commitments OF capital In fixed
forms give good promise OF working out.
The indicated winter wheat crop is the
largest on record, promising as II does to
come within 100000 bushels Of the b,0OO.OOO :
0O0-bushel market The estimate OF the
spring wheat crop, while falling short of
the actual bumper crop OF 1901, exceeds that
Of any other year and brings the indica TED
figures for the total wheat crop, estimated
on present conditions, to the largest In the
country's history, the figure rising to above
772,0OO, coo bushels. The estimate Of the corn
crop. based on present conditions. fixes
a figure in excess Of last years bumper
crop and also is well above the estimate
effect of the report, either in the grain
markets or in the stock market, was due
partly to the confident expectation OF Its
favorable character previously held.
The money situation undoubtedly had an
important part In the restraint on the stock
market. Call loan rates for time loans were
rency movement indicate only slight
movement on balance against New York to
be added to the S2,O0o,0oo lost TO the sub
treasury. But no doubt is entertained that
the course of the movement, thus slightly
indicated has turned definitely against New
York for the season. Weekly Withdrawals
from the cash reserves of the New York
banks are to be expected, therefore for an
indefinite period. Relief from other re
sources depends on New Yorks ability to
draw gold from abroad. Conditions are
moving quite strongly towards the point
of profit on gold imports. A further wlde
decline in foreign exchange rates TO-DAY
brought that point nearer 1t Is 6elleyed
that new arrivals OF gold in the London
market will be availa bic for New \ ork
under present conditions, although they 90
not allow Withdrawals from the Bank OF
England for shipment. The official hgures
of the Rand production of gold in July
were of interest In this connection, showing
the sing tendency out of the output
still In progress. the monthly production
rising to 49l, 1893 fine ounces, the greatest
in the history of the Transvaal.
The desultory show OF strength In rev
stocks during the day. principally me
| Hartman Pacifcs and the Pennsylvania
group, was attributed to prospects Of divi-
| dend Increase. The market was siugBish
! and narrow throughout. The freedom OF
| the call loan market from a nnal hurry
! which was somewhat feared, prompted
stiffening of the prices at the last, which
established the best gains for the rev
! however. were trivial. The closing tone
Bonds We're heavy Total sales, par value
81, 100, 900. United States bonds were all un-
The following are the quotations on the