Omaha daily bee., 1906-01-04
NEW YORK STOCKS SAND BONDS
ksrke. is Irregular Because Of Uncertain
Money Situation.
RATE FOR CALL LOANS FIFTY PER CENT
Large shipments of Gold TO south
America and Heavy Withdrawals
from Banks by subtreasury
AHect Conditions.

NEW YORK. Jan 3.-The movement OF
the speculation today contested the infu-
ence of the continued stringency OF the
money market with more persistence than
was the case yesterday. but gave way to
weakness at the last as on yesterday. The
stringency, in fact, was less acute, the
money rate showing the operation of forces
working towards relaxation. But the evil
dences of encouragement over the slowness
Of the working out of the relief to the
money market continued manifest and there
was considerable irregularity in the stock
market.
The operations which advanced prices
gave signs of a reversion of activity into
the hands of pools and centralized forces.
Individual operations were very large
scale. This was true as we'll of the profit
taking sales. Some announcement to spec
ulative sentiment was caused by the as
sertion which diligently circulated.
that some of the large speculative commits
sions were realizing on large scale ana
paying OF loans on call with which they
had been carrying stocks. II was alleged
as supplement to this process that the
stocks sold were being taken over in large
blocks by capitalists of more substantial
character The effect of these conditions
on the money market, IL they were &C
tualy occurring. was slight Money went
as high as 40 per cent early in the day, and
while 1T was maintained at that rate for a
short time. ii showed little readiness to
| Yield below the % per cent rate, and fur
! ried to 80 per cent again before the close.
| The postponement OF the operation of
normal forces toward the regular money
stringency caused a revival of rumors and
II
! lief. The most important of these was the
| report of authority to the disbursing off,
Ger OF the Panama Canal commission to
withdraw $6OOO,OO from the New York sub
! treasury for deposit in local banks and
| trust companies. Other special develop
ments were against the money market. The
enormous proportions of the requirements
! OF the January settlements were indicated
| by the volume of bank exchanges at the
| clearing house today which rose to $685.
| S44,S9l, thus eclipsng by over $S6,C00,OOO the
| heaviest clearings OF any previous day In
the history of the clearing house. which
were made on May TO- 1901, the day follow
, ing the panic caused by the corner in
Northern Pacific. Subscriptions fell due
yesterday yes nd for Is per cent nstallment on
| Hartford debenture bond issue, with privi-
! iege to subscribers to pay the subscription
in full and save interest.
| The withdrawal from the subtreasury of
| N,5O,OOO in gold was enshrouded in some
mystery and was supposed TO be either for
a MeXicanJ or South American destination.
! More Significance was attached to engage
ments of gold for shipments to South
America which were taken as establishing
the control by the London market of sup
plies of gold I'm this market as the ship
| ments are In liquidation of London obliga-
lions to south America. There was re-
coyery IN the rates OF discount in London
and Berlin today which indicated the pass
ing OF the effect of the New Years dis
bursements in those markets Reports OF
political tension between Germany and
France growing out OF the coming confer
ence on Morocco were believed to have
Sohic htluthSt Oil llt SITUATION Inc
subtreasury continued TO withdraw funds
from the market In spite of the beginning
of payment Of the February government in.
terest-the loss by the banks to that insti.
tuition since the last bank statement risins
today to s2,5es.Ooo. Special reasons were
advanced for the strength in some indi.
Vidual stocks. but the movements were
generally attributed to the supporting
measures of powerful SPECTATORS largely
committed to the market. Reading and
American Locomotive made high record
prices, and st: Paul, Atchison, Union Pa.
cihc. Louisville & Nashville and Sugar
showed varying degrees OF strength. ONLY
one or two of these saved any remnant OF
their gains In the selling movement which
overwhelmed the market in the final houI
and made the closing weak and active
Bonds were irregular. Total sales pa,
value, $4,000. United States 3s coupon
declined y, and old As. coupon, advanced
n per cent on call.
| Quotations on the New York Stock ex.
change ranged follows: