Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-25
Monetary Situation Occupied a
al Secondary Place.
IN STREET CALCULATIONS
The First Time in More Than a
Month.
MANY sHoRT-ACCoUNT DEALINGS
Proceedings at Buffalo Convention
Noted Closely by the Brokers To-
day-Tractions Strangely Weak.


epeciaI Dispatch to The Star.
NEW YORK, September 25.-For the first
time in more than month the money mar
ket situation today occupied a secondary
place In Market streets calculations. Inc
major or at any rate the conspicuous lnfiu-
ence in the days dealings was politics. and
more especially the proceedings at the Bur
falo convention. AS the reports came 10
hand from Buffalo with the course of the
business session prices fairly melted away
In all directions.
Much of the pressure upon the market
seemed to represent operations for the
short account and upon occasions during
the day slight rallies occurred, while the
trading at all times presented a feverish ap-
pearance
AS was to be expected, such stocks as
Consolidated Gas and Brooklyn Rapid
Transit were particularly depressed by
the advices from Buffalo, and Manhattan
railway, which would appear to have no
particular concern with the outcome
showed the same strange weakness That
stock has displayed for several weeks past.
INSTRUMENTATION common also
declined on small transactions. while the
preferred issues showed relative strength
Such was the concentration OF interest,"
upon the proceedings at Buffalo that the
rank and file of traders actually accepted
as true a report which was disseminated
about midday that Hearst had been nomi-
maturity of this report was quickly rec
ognized. however. but the correction of the
rumor had little or no effect upon the stock
market.
1t may have been that uneasiness, with
regard to the monetary outlook. was
further factor in the unsettlement OF the
market and such was probably the case
but as noted above that aspect of the stu
alton at large was temporarily overshadow-
ed by the interest taken in political af-
fairs.
The Days Incidents.
The days incidents relating to the money
market were of a routine character. in
GLIDING additional engagements of gold for
import and continued transfers of funds
TO the interior Money on call was frm
and no alteration was observed in the rates
for loans on time. Sterling exchange was
somewhat easier.
There was some disappointment evident
at the opening of business at the absence
OF any confirmation of yesterday after
Moons persistent reports that the Secre-
tary of the Treasury would soon announce
further measures looking to the relief or
the monetary stringency, although II
seemed to be the common belief that he
would not delay action over the current
week.
The Railway List.
In the railway list Canadian Pacific
showed exceptional strength. that stock
benefiting from quite large purchases for
foreign account. the operations OF this de-
scription elsewhere being upon a limited
scale A sympathetic rise also took place
In the Duluth. South Shore and Atlantic
Issues Southern Pacific Of the
most active features Of the railway list
and showed the same relative degree Of
Strength which has been displayed by that
stock for several days past.