The San Francisco call., 1906-04-13
New York stock NIarket.

KEW YORK, April 12.-Today's money
market did not fBlhl the promise held out
10y tho violent relapse in rates yesterday,
caused by the news OF the heavy engagements
81 gold for import With call loans opening
at 10 per cent and large amounts lOaning near
that rate yesterdays view OF the extent OF
ne relleL a1orded by the gold engaseulents
was mooneo, although the money rate ran
81 later A considerable relief from the
strlngency before existing obvious and
rhere was no sign OF pressure Of liquidation IN
The stock market There equal lack
or any aggressive initiative toward specula-
..tiye accumulation Of stocks ATTEMPTS to
advance prices Notsb he strength was limited
10 rev individual stocks and the movement
was hating and irregular. The impression
was given that relief from the stringency in
The money market secured from the engage
mests OF gold IA the London market was de-
signed Tor other purposes than 70 foster a re
uewal Of speculative activity IN stocks
karlous requirements confront the money
market and considerable part Of the tenn
pofary borrow tngs which have been going on
are known 70 be for the purpose Of deferrinR
Aell ch@lacter Ihere tell due today 70
per cent installment OF subscriptions TO
issue OF SOME s17. 100000 Of Atchison convert
teiS SolUss mus caliing Tor upward OF
SAsOo0,0co. On Monday a 10 per cent install
ment fills due on subscriptions TO si00' 600 600
~ American Telephone convertible bonds,
nus calling $4,000. 900. II is understood that
ucued s5 OOO coo last week for a period OF a
week rather than market bonds on the high
anterest basis necessary at that time, has
hslf again for a short term. Borrowings of
This character will be suDplanted when they
fall cue by permanent obligations.
which viii then make their demand upon the
resources OF the money market. Another
sl,eeO.UOO IN gold secured IN London to-
day and II became known that one Of the
Canadian banks had secured an amount yes
-zerylay said u be So. 100000 in London for
immediate export into Canada but with the
purpose OF using the proceeds for loaning pur-
poses in this city The response Of the for
eigp money markets and Of our own foreign
exchange market DID not ofter great promise
Tor large extension OF the gold movement.
The rebound IN sterling exchange was par
uEySmsl COMPARED with the low rate OF
yesterday for demand bills which was at
TINE s. SO the rate rushed UP today 115
pointg 70 81 s465. The suddenness and violence
dent in the New York market Discounts in
London hardened sppreciabg and conditions
moved distinctly away from the position which
ofIered e command by New York OF the Bank
OF England's supply Of British gold coin. An
important relief Of the local banking tension
speculative holdings OF stocks from New York
10 London. Readings strength today was
connected with hopes Of a labor settlement.
and the adjournment Of the coal conference
was followed by a reaction in that stock
This was the msinstay Of the whole market
below last night and closed easy.
Bonds were steady. Total sales. par value,
8. 40, 600
United states new IS registered advanced u
per cent on call
New York stock List.
z. F. Hutton g. Co., $40 California street,
san Francisco, members Of the New York
stock Exchange. furnish the following official
quotations Of that Exchange: