Omaha daily bee., 1906-10-03
NEW YOUKSTOCKSAND BONDS
MARKET Opens with Travs how Of Strength
Which il Not Maintained
SURFACE CONDITIONS FAVORABLE 10 Rlsl
Rate for Call Loans f. Easier and
ClearinEs Are Almost At Maximum
Close f. weak. with values
at Lowest.

NEW YORK, oct. 2-The stock market
did not maintain the brave SHOW Of
strength with which 1t started out today,
although surface conditions were in favor
of the market. This was particularly true
OF the money market, which continued TO
relax both IN the rates for time loans and
for call loans. The premium on time loans
for over ninety days has practically DIS
appeared. In the call loan department even
yesterday $ moderate stlnness' measure
by the early per cent rate, was con-
tracted with a restriction within the
per cent limit for early TRANSACTIONS today.
Forebodings of a possibly deferred effect
OF the heavy October requirements we're
thus disproved. The dimensions OF these
requirements was indicated by the enor-
banks today, the total rising to $o4S,OlO '5z
compared with a record day clearings on
January Of this year Of s9ss S44, Sss ON
only two other occasions. and that during
the great financial operations in the rall-
road world which precpitated the panic
Clearing house ever been Exceeded.
The skill with which yesterdays great
operations were arranged lie indicated by
the small excess over the average in the
days cash balances, which amounted 10
but Sl674S,176 This evidence OF the Inn
portant work already effected and the es-
cape of the money market from serious
consequences In the doing Of 1t were con-
sidered very encouraging as to the money
OUTLOOK Yesterdays payments ny ooo o 20, sss
early repayments of temporary Indebtedness
OF the city is looked for as consequences
Bank OF Germany reflected the strain of
the October settlements on that market
| also, with decline in cash holdlngs Oh
! upwards of So, 100000 an increase OF loans
| OF $6S, 2O5, 900 and an expansion In the out
| standing note issues of the bank OF w. /,
| work already accomplished and the prl-
vate rate OF discount receded in Berlin
| today. In London, however, II advanced,
and the expectation became more general
that the bank rate will be advanced on
| Thursday probably full l per cent 10
| per cent to put a check to the outgo OF
| gold. This was, in reality, the only feature
| In the situation on the money market sue
| TO account for the hesitating tone OF the
stock market. The easier tone IN the
money market Is attributed to some ex-
tent to the release to the market OF tunos
| which have been withheld waiting Tor a
rise in the call loan rate. the sinall
promise today of high rate for call loans
Of money in the time loan market, win
| appreciate effect in easing its tone. ,.,
! The government report on the conolIlon
OF cotton was not considered tavoraple,
/ as the effects Of last weeks tropical storm
and damage to the crop came etter tne
neriod OF the estimates on which the gov
eminent report was made up But the COT
ton CARRYING railroads were amongst the
strong features of the day: ExpectauoH
OF an announcement of the "ore deal our
ing the day played large pars t IN 'ne stock,
hardening and the Hill stocks moving IT
Regularly The reactionary tendency grew
on the market and persisted after late
rally The closing was weak at the low
bonds were irregular. Total sales, PAL
value, 81, 100000 United States bonds were
Following were the sales and range o.
prices on the Stock Exchange: 49,.