The San Francisco call., 1906-09-26
Ner York stock Market.

NEW YORK Sept 25-The market was held
uncer dullf depression for the most part today.
but this influence was contested and was not
allowed 10 make much headway in affecting
prices until the selling of Amalesmateo Copper
10 -realtze broke the whole market in sympathy.
Immediate active factors were not innuence
on the market so much the belief that the
condition Of the money market would become
an active factor IN short time again Rates
for call loans fell below I'VE per cent early in
the day and conditions In that part Of the loan
market offered no sign Of disturbance. Never
rheless. the expectation is quite general that
the preparation for the October settlements will
involve furry in the money market. The re-
quirements then are unusually heavy and money
Is. undoubtedly tight in all departments The
universal confidence that the Secretary Of the
Treasury intends 10 extend aid is the only as
surence felt against severe pinch. Confidence
has been very strong in Wall street that the
usual recourse 10 stock market liquidation
FOR relief from such & situation was 10 be es-
capped But there is no disposition TO extend
with whom this opinion has prevailed. That
there is an element not so sure OF exemption
from the usual pressure was indicated by the
grown. Of ten selling movement toward the
latter part Of the session. sums 10 be paid
out next Monday in dividends viii be very
large The Union Pacific semi annual per
cent dividend and the Southern Pacific pa
per cent alone will call for nearly Sl5, ,O00. 600.
and the aggregate OF such payments that
date is estimated at $50. 100000 or more. In
addition the New York trust companies viii
be called. upon TO increase their cssl holdings
There was no relaxation IN ,fe demand making
upon New York bank reserves from interior
from interior banks is being offered 10 New
York; banks The amount OF new gold secured
abroad for New York fell today 10 a meaGer
S200 Goo The stock market settlement in
London revealed high carrying charges and dis
crinlina ton against American securities in that
mafket. In Paris the discount rate advanced
10 within shade Of the bank rate ana the
weekly statement Of the Imperial Bank Of Ger
many showed the continued strain upon the
money market at the center. The compila ton
OF the reports Of conditions Of the national
banks throughout the United States OF Sep
1ember J. given out at Washington today, shows
clearly that the imitation OF credits is common
10 the whole country. The percentage Of legal
reserve 10 liabilities on that date 20-2U
compared with 2l.s4 on June s, the date Of
the preceding reports 70 the Comptroller and
with y So August 25. the nearest cor
responding date Of last year. The dividend
increase Anaconda conformed closely 10 the
general expectation But the heavy realizing IN
that stock and in Amalgamated Copper had q
showing q disposition 20 sell on good news
IN stock that is regarded as a speculative
fsvcrite-of The group OF capitalists most relied
upon 10 carry through the present speculative
campaign This broke the whole market and
led 70 violent declines and weak and active
closing
Bonds. were irregular. Total sales. par value,
S2.392. 600.
United States bonds were unchanged on call
New York stock List.
T. F. Hutton & Co.. 490 California street,
members OF tie New York Stock Exchange, fur
uish the following list OF bond and stock sales
yesterday