Omaha daily bee., 1906-09-25
NEW YORKSTOGKSASDBOND
Early Market IL Lover OWING to Alarm
Over Money Situation.
RLlII IRON TR[ksURY EXPECTED
Prices Advance Under Rumor
TO This Meet and the
Close H. Firm and
strong.

NEW YORK. Sept. A-Disturbed senti-
ment over the money outlook induced con-
siderable selling pressure on the stock MAJ a1
selling orders had been worked Oh to some
extent that a recovery set in; The rally
the middle of the afternoon.
The early selling was reinforced to con-
siderable extent by short selling for ac-
count OF professional bear traders. Their
operations were encouraged by misread-
Ing Of the Significance OF the sub-treasury
guTss wn1c snSw seo on ,b .ne h Iaee since the
bank statement The inference that the
banks were poorer in cash to the amount
however, unwarranted. The false impress
sion IL due to the extraordinary amount
of confusion In accounting caused by the
assistance to importing OF gold. The APP
parent loss by the banks on sub~treaSury
operations is due to repAyments OF advances
made to them by the government against
engagements of gold for import in accord
ance with the agreement OF the banks when
they should receive their CONSIGNMENT q q
with the newly arrived gold and are not
withdrawn from the present cash reserves
of operations seems to Indicate. Some Of
the professional selling induced by mis-
calculation of this item was covered later
in the day and helped to the rally.
There was not much change in the money
situation or rather in the procession OF
events which Is drawing tighter the money
African gold in London furnished material
for New Yorks demand. which y1elued an
additional engagement Of about SlOQSoO9:
of England for New York account and no
further supply was secured In, Paris. The
bidding for the gold in London advanced
the open market rates another fraction;
Discounts hardened also in Paris and
Berlin and expectation was reported of
another rise in the official rate Of the Inn
perial Bank of Germany this week. While
the official rate at the Bank Of England
mands ~ per cent on American bins ano
per cent for money The prospect, mere
gold this week than last. Routine sub
treasury operations, also. are making
drain on the banks. although not In tine
sion Of the repayments on gold imports.
The government institution was creator
at the clearings house this morning TO the
extent OF $s6S,92s. The principal factor In
| posits due at interior points, banks OF the
| interior drawing on their New York CORE
spondents to pay oblisatisonns 70 the sovsrh n
treasury was for the purpose OF teiegrapnlc
| transfer TO st. Louis. The scarcity OF
| funds in the time loan market continued
| grew that treasury relief for the money
market was essential to enable II to meet
! the October / demands upon It. The conn.,
dent belief that such measures were imnli-
| nent was general late in the day and cons
| tributed largely to the improved tone OF
the stock market.
| The late recovery became ,.deeSdioeo ,iS.
| considerable net gains were the Hartman
Pacifics, Atchison, Reading and Amalga-
Ronds were easy. Total sales. par value.
81, $50, 900. United States bonds were I'M
| changed on call Nts
The following was the range of prices on
the New York Stock exchange:
| z alaa tuh -.