Omaha daily bee., 1906-09-06
NEW YORK STOCKS AND BONDS
Continued strinEenoy in Money checks
Speculation in stoOh.
CALL RATE RISES TO FORTY PER CENT
American smeltinR Advances Late In
Session on Dividend Report and
L. Followed by Union
Peciac.

NEW YORK, sept. 5.-The continued
strlngency OF the money market kept the
speculation in stocks In check today as is
SHOWN by the shrinkage In the total OF
shares sold during the day at the
stock exchange. There was some depres-
sion in the market, but its moderate pro-
comstances was accepted as negatively
favorable. First loans on call money were
almost immediately to "a per cent and In
the afternoon to ~ per cent Many of the
banks asked 20 per cent as the renewal
rate on standing cell loans. The local
banks were practically out of the money
market in the sense of extending any new
credits and the supply for fresh borrowers
banks, the large proportion representing
foreign funds, the proceeds Of finance bills
which were sold freely in the foreign ex-
change market.
The resistance shown by stocks to the
influence OF the money stringency during
the mid session was due to expressions Of
forthcoming for the money market. This
professed confidence was based on conjec-
in money conditions. The favorite meas
ure pointed to in the current surmise, was
action by the United States treasury de-
The prevailing stringency In money was
urged as tustifylng action by the author
tiles to release the idle surplus funds at
the command Of the treasury. Hopes
were expressed that the secretary OF the
| treasury would resort again to the meas
ure. employed last April for facilitating
gold imports when government funds were
advanced to national banks which intended
to make gold imports, thus saving interest
charges during the period of transit but
the secretarys order to that effect did not
become publicly known until after the close
of the market. The exhaustion of the
loaning power OF the clearing house banks
was clearly Indicated by the amount with
drawn on subtreasury operations since
the last bank statement, which was $685.
900. The surplus above legal requirements
shown by the bank statement amounted
TO but 81, $50 400. Today 81, 500, 90 was trans
ferred to San Francisco and $4,000 to New
Orleans by telegraphic transfer through
the subtreasury and the interior con-
tnues to draw on this center through the
g Of the the fos eSSRsSRs 0
the influences were mixed. Some Of the
engagements reported yesterday Of gold for
today. The t2,Ol5. 900 reported withdrawn
from the Bank OF England for shipment
to New York was believed to include some
Of the engagements reported IN New York
Speculative sentiment was more affected
by the vague rumors OF an accumulation
in foreign capitals BY concealed devices,
which is to be shipped at an opportune
moment 70 sustain the stock market. The
price paid for the gold withdrawn from
the Bank OF England was considerably
above the market price and the price OF
eating the opposition to New York's de
mands for gold in these markets. Tiuie
loans for ninety days advanced to 8 per
cent and the six months was 6h to per
| Smelling on the appearance of the annual
report followed by strength in Amalga-
Pacific were the sustaining features in
| the market and the late advances were
| fairly we'll sustained. until the closing, In
spite OF a rate OF 10 per cent for call
money. ~
Bonds were irregular. Total sales par
| value t2292,O00 United States Is ad-
vanced u per cent on call
Following was the range of prices on the
4 New York Stock exchanged: