Omaha daily bee., 1906-11-08
NEWYORKSrOCKS AND BONDS
Market is Dali in Spite Of Signs Of ANNA
ten in Early SELLING.
txPIcTEO DEMAND DOCS N0T APPEAR
Traders who Bought In Anticipation
OF Advance On values After Elee-
tisn Are Disappotnted--Rtse
I'm Illinois Central

NEW YORK, Nov. THE speculation In
stocks proved TO be Of a desultOry char
acter today Ia spite OF signs OF animation
in the early selling The largest snare Of
activity was during the first hour, and this
was largely under the domination OF Tor.
eign influences Reported apprehension OF
a further advance In the Bank OF England
discount rate at the weekly meeting OF
the governors tomorrow was a principal
factor.
There was some selling out by the buyers
OF the last few days. That buying had
been due to a hope that the election out OF
stocks. There was no sign Of Il this morn
ing ana the selling to take profits agra
waited the effect of the selling for London
account. The superstition Of a rise IN the
English bank rate seemed due In part 20
fears on the part OF the authorities OF the
bank that the stock market was about to
enter upon a new period OF speculative ac-
tlvity, with the probability OF enforcing
their demands upon the English money
mafkst TO keep y Up % far as ms Sss ,,,
rate. the event failed to justify the al pre-
hensiOn, as operations In New York were
burst OF selling. 1t is evident, however,
that the Bank OF England has not made
satisfactory progress in the recuperation
Of reserves considered necessary before en-
tering upon the year-end requirement. Inn
portance was attached to a report that the
Bank Of France rellnquished some Of its
gold holdings today for shipment to Egypt
as relief for the Bank Of England from this
drain might be hoped to operate against an
advance in the discount rate.
The only notable resistance in the market
was IN the Hill stocks. especially Northern
Pacific. The strength OF these stocks was
attributed 10 the old cause of an expected
disbursement. in some negotiable form or
the beneficiary results Of the iron ore deal
4 There was nominal strength also In Illinois
Central and In Chicago & Alton, which
was explained by the belief that the as
sumption OF control Of Illinois Central in
the Hartman interest argues some project
OF closer relations between roads dominated
/ by r. II. Hartman
The local call money market was main
| tained today, but did not advance. The
tone of the local money market, however,
was strong and nervous and ninety days
| loans were reported at Z per cent, with the
! latter bid for sixty days. Very little money
was In the market. There was some con-
/ fidence that the interior demand for cur
= rency is nearly satisfied for the present
but the condition OF the local money market
( for the immediate future is believed TO be
| dependent on the attitude OF London lend
/ ers In connection with the next stock mar
ket settlement. Reports from washington
/ Of a Sc in preparation for prosecution Of
the Standard oil company received some
attention in the market. The demand for
uncovered shorts which caused rec3veries
| in prices. disclosed that bear activity was
an important element IN the markets weak
! ness, but considerable net losses remained
after the rally. The closing tone was firm
and dull
Bonds were heavy. Total sales, par value.
! Sl.7sS 900. United States bonds were un-
| changed on call.
The following was the range Of prices on
the New York Stock exchange: