Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-09-22
NEW YORkSTOCkS AND BONDS
Market is Dull and Sluggish and Eesrly
staenant at Times
FEW SPECULATIVE FAvoRlrEs ACTIVE
to Make Favorable statement
rate for Cali Loans
IL Lower.

eiRn gold with the subtraction Of drains
to other quarters An important element
In the OFFSET was the loss OF balance TO the
rose again to above ,6CoO0o. indicating
that the interior drain on New York has
been fully resumed. There was a small al,
ditional parcel OF gold secured today and
this not In London, but in Paris. and not
from the Bank of France, but from other
quarters. The private discount rate IN Lon
don rose an additional fraction above the
higher. the erect being to divert New
York's demand upon Paris. Unless the
Bank OF France relinduishes its determine
ton not to release gold to New York II Is
not expected that a movement from Paris
will attain any important proportion. This
l msssTes we're tSs nsEt ayaIsb,. source
OF relief The special strngth of Southern
Pacific was based on reports OF an issue OF
ing over ST. paul. Amaieamated Copper re-
sponded to an advance In the price OF the
metal and a number of minor industrials
their t nevstr,ss sR Tbe closing tone was
heavy and there was no relief from the
predominant dullness
Bonds were heavy. Total sales. par value,
n.474.oOo United States Is. coupon, declined
y per cent on call.
NEW YORK, Sept. 1.-THE shr1nkage IN
market was principally due to the lessen
Ing OF the furious activity in few stocks
which has kept up the aggregate for sew
eIei uAyb past heaulb8 anu oOuthcfu a
cihc were still dspropordonately active, but
! In nothing like the same degree as for
| some time past. outside of the speculative
/ favorites the market was exceedingly duli
and sluggish and nearly stagnant at times
| The dullness of the market In face OF an
appreciably easier condition Of the call loan
| market and the promise OF a substantial
increase in the banking surplus to be shown
| in tomorrows bank statement, was the oc-
! casion of various theories to account for It.
voices were heard in the financial district
to point out that an inference might be
drawn that speculative demand was not sc
eager TO lick up resources in the call money
! market as detractors had alleged. Becre'
| tary Shaw's circular to national banks
warning against lending government funds
| Tor speculation has impressed upon the
minds of stock market borrowers that they
| must wait on signs of urgent need In Other
deRa rtments Of the money market than tbs
call loan branch to induce fresh RELIEF
measures by the Treasury department The
contrast in the call loan rate receding L
below s per cent, with the stock marke
quiet and gilt-edged mercantile paper com
manding 81 to 7 per cent, and also loanl
for sixty to ninety days commanding {
cent, was regarded in stock market circles
! as glowing evidence of the innocence o.
speculative borrowers OF any part In tn,
responsibility for high money rates. Thi,
contrast was felt to offer convincini
argument in favor of new relief measures
very confident In fact that further deposits
tof government funds in national banks wa
| Immediately imminent. Estimates of tn,
| weeks movements OF cash point to a RaiI
| by the banks OF upwards OF 81 100000. Thi
represents the weeks acquisitions OF for
prices on the Stock exchange today:
| IA Low