Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-01-03
new YORK STOCKS AND BONDS
Market Opens Broad and Active on Lever
Rates for Money.
VALUES ARE IRREGULAR MOST OF DAY
Call Loans Later Advance TO sixty
Per Cent and Prices Sell on
on n General Unload
ing.

NEW YORK, Jan. THE action of the
stock market today indicated rather more
the case last week, even while money
rates were ruling at a 100 per cent level.
The speculation made progress today and
there was a broad and active market with
plenty of evidence OF strength. The
strength, however, was in spots and the
market showed large degree OF irregu-
larity due to press of profit taking on
some of the principal market leaders of
last week; The action of the market also
speculative position in the face of hope
deferred by the easing of money.
The money situation today was apprecia-
bly, less acute than last week, but never
theless the market was undeniably
stringent. The rate opened at 80 per cent
and there was small disposition to yield
ations were still in progress and belated
borrowers made a late rate of go per
| cent This was a distinct disappointment
to the hopes Of some of the boldest Of
last weeks spectators. Many who took
100 per cent rate for one day or two days
| regarded with less equanimity the posi-
| bity of a rate considerably less, although
! stll high. should 1t be maintained for a
period of days or even weeks The money
| market was less affected today than was
hoped by the large disbursements of divl-
vision has been making by the accumula-
| ton of cash and by the release of sums
gathered into trust companies to strengthen
| their showing for the annual statement.
| Such relief is to be looked for from
| these sources came promptly. and further
| relaxation which is hoped for from other
| sources Will come into effect more slowly.
| The deposit at the subtreesury on Satur-
| day of 100000 for transfer to San Fran
helped to establish the credit balance of
the government institution at the clear
ing house this morning which amounted
! to 1921, 400. without counting this, the
banks have already lost to the sub
treasury since the bank statement 81 700, 900,
the customs collections OF the government
Inc To- a
to day. The government interest payable
! January II was paid in anticipation on
the middle of the month. The decision
of the Treasury department to pay at
once the government interest due Feb
ruary IA provided only a small offsetting
influence; the total amount of this Interest
The money situation in foreign markets
| however eased decisively. Discounts de-
ling exchange rose at Paris and Berlin,
and there was a sharp marking down In
the price of gold in the London market
The Russian situation was considered i'm
proved and continental money markets
were relieved accordingly. The course OF
money in foreign markets is of import
ance to the New York situation, owing
to the heavy sums borrowed from foreign
lenders for the conduct of the speculation
| here and which fall due within the next
few weeks. The facility with which these
obligations can be renewed may have a
bearing on the future of the speculation
here. New York exchange at Chicago
, which has been ruling at discount, rose
to small premium today. Some stress
was laid on the fact that wagers on tht
mayoralty election in New York. which
were held up on account of the contest
were paid off today.
Some special effect was produced on sen
timent by the manifest pressure upon tbs
United States Steel stocks, Union Pacific
and Amalgamated Copper, which were in
fuential leaders of last weeks advance
The recovery in the money rate on the
demand from belated borrowers late ir
the day added to the disappointment over
the small outside participationin the mar
ket induced general throwing over OF
stocks in the final hour, which carried
the average level below Saturday and
wiped out many of the earlier gains. The
Bonds were Irregular. Total sales pal
value. s2.415,00o. United States 3s coupon
advanced y, while the old As coupon de
cined l per cent on call.
Quotations on the New York Stock ex
change ranged as follows: