Omaha daily bee., 1906-08-23
NEW YORK STOCKS AND BONDS
More Nearly Normal Conditions Prevail in
Wall Street Market
BOTH CALL AND TIME LOANS RSI
Demand for Money Causes speou-
latOrs TO Halt and Late
Prices Are weak and
Lower.

NEW YORK. Aug 22.-More nearly nor
mai conditions prevailed in the stock mar
following the so-called Hartman episode
gave place to saner and safer course.
trading was only moderately large. COM
pared with the previous days OF the week.
and the trend Of events seemed working
towards more logical conclusion. 1t was
evident that the element to which respon-
siollity attaches for the recent movement
had begun to take heed of impending finan-
cial conditions Indeed, the Gays develop
, ments IN that quarter were highly in
ton. Not only did call money advance to
per cent, the highest hgure in several
fleming in time loans. 6 per cent being de-
manded for practically all periods. With
the present weak bank position, the sur
Plus OF the associated Institutions at its
lowest for this particular period in thir-
teen years, and enormous crop demands APP
preaching, it was quite natural that money
change. There were persistent reports Of
early gold imports; and the further weak
ness In exchange lent plausibilty to these
stories, but experts figure that none would
be obtainable before the coming week, IL
then. The early feature was the move
ment in the Hin stocks. which carried
Great Northern preferred to the highest
level reached In the present movement.
Northern Pacific participated in this move
ment, and the threadbare story of the
ore deal, with resultant rights to hold
ers of the Hill issues, were reyamped with
more or less wealth OF circumstantial de-
community is Of the opinion that the ne
COLLATION. between the Hill interests and
the United States Steel corporation for coR-
troll OF these properties have been prd1
tically closed. That some material bene-
tits will accrue to holders Of the Hill Sc
curities IL also believed, but signs do not
point to an early announcement of this
very important matter. The irregularhy
which characterized the opening of the To-
cal market was doubtless reflection of
conditions In London, which sold American
securities, later taking the same attitude
in this market. Trustworthy reports
agree that that center has taken huge
proftts In American stocks on the recent
rise.
The Hartman issues manifested a halt
up with the remainder of the active list,
keeping well above the previous days clos
! Ing quotations. They held rather better
early gains were wiped out in the begin
ming OF the afternoon session, when the
rate for call money advanced to the high
! traders took an aggressive attitude on the
4 bear side, offering stocks at marked con-
| cessions in the hope of catching stop
| orders. This move was partly successful.
| but the freedom with which these offerings
was absorbed soon brought a substantial
rally. After a brief period of dizziness
Northern Pacific and Colorado Fuel lost
| the greater part of their early gains, the
market Started s anew under the lead 90 q
was taken in enormous quantities, selling
| as high as 46A. the highest price reached
In four years. The buying was reported
to be of an impressive character and was
| accompanied by rumors that this stock
| win be placed on a 4-per-cent basis, Its
original status, at the next quarterly meet
| ing. .e.
The market underwent complete re-
versal In the last twenty minutes, ter
| rife drive by the shorts. and the western
| speculative coterie affecting prices through
| out the list. Not only were all the days
| gains lost In this movement, but number
! OF material declines were registered. the
| market closing weak. There was q
| further loss by the banks to the sub
| treasury, the decline now amounting tic
| almost ss,000,o0o. In addition, to this loss
| IL il understood that some of the banks
have been making heavy direct shipments
! of currency to western and southern
| points. go.
Bonds were Arm. Total sales par value
| 81, 285. COO United States bonds were un'
changed on call. =
| The following was the range OF prices or
the New York Stock exchange:
! Q.la Uh Inv