The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-12-07
GOSSIP OF THE MARKETS

F; 2: Frazier New York, to G. E. Lewis
1t Looks ,ta tho tho th,s rate VII last for
rate for this month will be higher than it
ever was known before in the history Of the
stock stock. exchange i don't see how people can
Of interest and think it is good business ITO to
| sell out long stocks -.
fooWng is nened to Sf
times. but not on steel common. Their buying
basis of much Of the stocks recent strength.
Kansas wired that they hear on good author
ity =, that the st. Paul road has secured control
j.. D. Fraser, from Chicago-The small Ar
gentine shipments, had more effect on the local
sentiment than did the fine crop prospects. The
broadening trade with new business coming in
on the long side gave the market good tone.
winnipeg s.S weather Err cloudy q; calm 30 below
pending Withdrawal Of, gold for Egypt has been
cancelled. but that about $50, 900 pounds will
leave immediately for Brazil. America is ex-
. 1sst to compete for bar gold here on Mon
Rumor in New York that Secretary Shaw will
New to per Of sond hs
fact that Secretary shaw's relief measure, could
have no effect on money rates at
announcement has had the effect. however, Of
willingness to put at the disposal of the bust
ness interests Of the country as, much Of the
treasurys working balance of $7S 900 900 as
can readily be. spared. Prospects for bad bank
loss Of nearly So far this wesi
among floor traders, but %their attempts to dis
lodge stocks on this theory have met with
slight success; There has been notable alb
trial stocks, offered during the day, even on
advances. Trading has been. almost exclusively
gets plentiful and rates. ower n' Rep enss
come from " ashington that congress is appre-
eating the necessity Of early action the cur
rency question, and will soon take hold of the
subject with the earnest intention Of enacting
measure to prevent further occurrences of pre-
ditions.'' ''''N N'''''"'' '0n-
eo Piper from New Xork.The high money rates
tits fternoen Union Pacific nF" %as me netabiy
weak. declining over 2 points. Transactions
have been on small scale. There is feeling
shaw's position towards Wall street The relief
he has given is entirely inadequate to the SIT
uation and Is not available until the 18TH
scarcer than it was this time a year ago and
the administration will wish to point at the
ahand why it's
gets further relief soon,. break seems ineyita-
ple i The heavy loss of cash 2by the banks to
the subtreasury eforeshadowss an extremely bad
Liverpool cabled-Wheat affected favorably
b. adyices from America, but the effect was
demand continues steady and regular. Spot
corn very. depressed. with pressur etc sell. The
hom tie Argentine to the United Kingdom.
y. A.. Patten wired Lewis: 'Some Of the
private wire houses have sent out a report this
morning that 1 have bought a half-million or
more May corn this morning. 1 have to say
that have not made trade in corn today, on
bear on corn and believe it will sell lower
John Hays Hammond denies that he has re-
signed as. president Of the Nipissing mines or
! that he has severed his professional connection
with the Guggenheim interests He said further
that this failure Nipissing syndicate-was not
Whaiion Ion from sr - New York: Atchison en-
thusasts are not looking for rights or divi-
dendsf but for. both. They expect to. get
tiles and a 6 per cent rate on the stock. The
company is earning the money and can afford
its securities thereby, and that is, what Is