Omaha daily bee., 1906-08-14
NEW YORK STOCKS AND BONDS
Persistent Absorption Has the Effect Of
Raising Price Level.
EARLY MOVEMENT is IRREGULAR
Sc. Paul, Union Pacinc and Southern
Pacific Lead the Advance
Rate for Call Loans
Higher.

NEW YORK. Aug. 13-There was per
sistent absorption Of stocks In todays
markets Ir. which had the ultimate effest Of
The movement was halting and Irregular
in the early part Of the day and had 70
tlons which were given an unfavorable
tenor in the current opinion.
The bulk Of the days business was largely
but those Of this class which have been
most effective I'm their sympathetic inhu-
ence on the general market were again
brought into prominence with the result
that the general price movement came Into
accord with them. st. Paul. Union PACING
and Southern Pacific have demonstrated
carry the list with them. The buying to
day, which proved impressive, was calcu-
lation by we'll informed insiders as to com
ing developments regarding those stocks.
The rumors current which attempted TO give
shape to the expected plan for financing
the Pacific coast extension Of the st. Paul
to the expected dividend increase on Un-
ion Pacific and to the Inaugural dividend
fixed quite explicitly at the per cent rate.
An unsettling influence In the early deal,
ings was the break in Brooklyn Rapid
Transit which was caused by the judicial
decision against the company's right to
collect double fares to Coney island and
70 the disorders which resuite dd iron tne
The Interborough Metropolitan stocks
moved strongly away from the Brooklyn
stock tnf1uenCed by the et9tlSucS lot tTdlnC
for the last quarter over the Manhattan
borough lines and by the reports OF earn
ings from Albany.
proved a restraint on the early speculation
and this was relieved by the news that the
bulk of the $4,000 Of gold arrivals In Lon
don has been secured for New York The
effect of the engagement on the London
market was 80 pronounced as to give warn
ing Of possible unfavorable effects from It's
extension which might be reflected again
on the New York market. The price of
gold was bid up penny an ounce in Lon
don IN order 20 secure the soio ana money otacs
market there was also affected by the pros.
pect of dearer money and some selling OF
the result. There was some easing in the
call loan rate here later In the DAY. rev
York exchange at Chicago recovered TO
10 cents discount compared with 70 cents
discount at the closing last week and 10
cents discount at last weeks low Level
Some relaxation for the time of the inte-
dicated. Subtreasury operations also prom
tsed some contribution to New York bank.
ing sources this week and a delayed effect
Is looked for from the redeposits of govern
ment funds with interior banks which have
been making since Panama canal bonds
subscriptions; The decline Of upwards OF
100000 in the value of July agricultural
exports caused by the heavy falling on
in the cotton outgo, was factor lacking
assurance Tor the internst t al e Ike nro
visions Item OF the beef packing agitation
was considered gratifying from the stand
point Of the financial markets The day $
gains were not fully maintained to the last
and the closing was rather heavy.
Some of the low Understanding bonds
lower price level at which the New York
Central 31ks have settled with the disso-
luton of the underwriting syndicate The
par value, 81 100000. United States bonds
were all unchanged on call.
The following are the quotations on the