Omaha daily bee., 1906-09-08
NEW YORK STOCKS AND BONDS
General Show Of Strength in the Market
Early in the Day
COMPREHENSIVE REACTION CONES tkTtF
shaw's Warming 20 Banks Against
Loaning Government Deposits at
High Rates Alarms
DepositOrs.

NEW YORK. Sept. Price movements
OF stocks today reflected a mixed senu.
n it IN the speculation and one liable to
Senarai during the day. The most
the Day and this was largely in sympathy
WIN the special strength of individual
comprehensive reaction 4he 'p Sac,n was wss
attriouted to the heavy cash losses which
sne banks were shown by the preliminary
estimates OF the weeks currency move
ment to have suffered. A chilling eject
upon the confidence of speculative opera
Tors OF obtaining abundant means from
by the strong terms of Secretary Shaw's
circular to national bank Repositories
warning them against putting out govern
ment deposits, in their custody, in loans
at nigh rates of interest.
Inc access TO accounts of national banks
ana the control of their conduct exer-
v,seo by the Treasury department through
the comptroller's ONCE, are believed 10
oner medium through which the head
ddepartm department viii be able to enforce his
inyunctions or to know whether they
have been observed, according to opinions
expressed in the Wall street district
meD Of the Rules I sS soES sT he
tary would greatly pinch the resources
now employed in sustaining the specula-
uon In stocks Is clear. The possible re-
suits to follow from the differences thus
suggested were not realized by holders OF
stocks on margin with borrowed money
and some speculative liquidation was
ment showed a small part OF the earlier
takings of that institution restored to tho
account still stood at S4434,0OO, while
estimates by the banks are OF a loss OF
cash TO the interior on the direct express
treasury Withdrawals. A decline in cash
reserves Of S1OO00,O00, with last weeks
surplus below sS.0o0.O00 had a restraining
influence on speculation dependent upon a
continuance of large credit extensions.
Money on call, on the other hand, showed
as yesterday and time loans were quoted
easier.
The days advices added to the confidence
viii viii be AVAILABLE 10 New York banks ns
promptly on Monday. when the treasury
| aid to gold imports goes into effect. Es-
! to an amount reaching $4,000, 600 or up
| wards. Any addition to this supply by
Paris engagements is matter of less
assurance. but is within the probabilities.
| Under the terms of the treasury order,
| also. gold on the way from Australia
| will entitle the consignees to government
| deposits until the period of arrival. Last
week 81 100000 was shipped from that
| source for San Francisco.
An approaching requirement for cash
which has not yet received public at
! tention is the necessity of the New York
| trust companies to increase their cash
reserves from per cent of deposit, which
| becomes obligatory on July 1, to per
| cent OF the deposits on October 1. The
| additional amount called for on the pres
will be about $4,000, 900. The Hill stocks
were strong features today on continued
! belief In the maturity of the ore land
! lease project. The New York Central en-
| joyed an advantage from it's good August
| earnings. Atchison and Reading touched
new high levels on the movement. The
| break in Union Bag and Paper was on
the reduction of the dividend on the pre-
| ferred stock. The running off In the
| call money rate caused an irregular rally
late in the day, but II did not hold and
the market closed easy and near the low
| est.
Bonds were steady. Total sales par
! value S1,734,o00. United States bonds
were unchanged on call.
Following was the range Of prices on the
New York Stock exchange:
QaIa. InA La lnaN