Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-12-12
NEW YORKSTOCES AND BONDS
Relief to Market from Treasury Depart
mont Meets with Prompt Response,
PRICES ADVANCE SHARPLY At OPENING
PrOht Taking UnsettIeH the Late
Market and the Close A.
IrreEular-BOnds Are
Steady.

NEW YORK, Dec u.-There was a
prompt response today by the money mar
ket and stOcK market to the rehet meas
sures by the Treasury department for the
inston after the market had closed yester-
DAY. The REIMBURSEMENT OF the price level
az the opening of the stock market was
almost spasmodic In its violence. There
were successive advances by sudden in
roads OF large buying orders at different
periods during the Gay. The FIRST quota
ton for money at the stock exchange was
10 per cent. There was furry to Is per
cent late in the day, but the ruling rate
change made a sudden rebound from Its
rapid fall Of yesterday towards the COLO
London over this relaxation OF the threat
ened strain on that markets resources was
so great that the open market rate for
decided expansion in the volume OF trans
actions at the stock exchange.
The emphasis Of the response to the &C
surprise in view Of the general ex-
preston OF opinion that the amount of as
s ogi6 he 10 TssH 70 fae Snt supposed
that any means to be supplied by the plan
became Immediately available to the money
market today and Il Is considered probable
that there may be considerable delay in
| the total amount becoming available. Ot
the 100000 OF deposits to be made with
the banks, but I,50OO0O will come directly
to the New York banks. the remainder be-
Ing distributed amongst banks In ten other
.
side banks will have to make efforts TO
secure proper bonds as security for the
government The offer to purchase govern
ment bonds Is always slow 10 bring re-
Spouse and the terms offerend by the
treasury provide no premium over the cur
rent market price for bonds. The ready
response of the stock market to thls IN
fiuence was regarded therefore as evidence
of the strong latent sentiment on the buy-
ing side which existed In the market "
was evident also that short interest OF
unsupported proportions were lett IN u
Vulnerable position BY the easing OF the
money market. The technics OF bear ac-
count in the stock market involves not only
( the borrowing Of stocks but the lending
Of money. The recent high money rates
therefore, offered attractions for the special
side of the market, not only for the spec
. ulative chance of fall in prices Of stocks
but for the profit in lending money. The
increased speculation today was largely
centered In stocks which are the recoB-
nized favorite for operations by pools anu
groups Of large capitalists. The jump IN
St. Paul was accompanied by rumors OF an
early announcement Of subscription rights
to new stock. Reading and Amalgama TED
Copper were affected by gossip or Intended
dividend inCreaSes.-An .over-eNtenued snort
interest was credited with special IN
huenCe in the rise in Canadian racine 10
a record price The sub-treasury contin-
ued to absorb funds from the market ana
Sl5.OO,COO was deposited for transfer TO
New Orleans. 1t was n subject OF COM
meut that no part OF the Intended govern
ment deposits had been set aside for san
Francisco Notwithstanding the large part
depletion OF cash holdings in New York.
Money brokers reported the time money
market sentimentally easier but no large
amount came out In offerings. Proht-tak-
ing unsettled the late market somewhat
and the closing was Irregular.
Bonds were steady. Total sales par value
S2,5S2oO0 United States bonds were un-
changed on call.
The following are the quotations on the
New York Stock exchange;