The San Francisco call., 1906-10-18
~ vork stoclz Market.

NEw YORK. Oct 1.-THE currents in the
market were again sluggish today and trsnsac-
tions were on snail seale Within the narrow
compass Of the movement however. II showed
8 reversal Of Yesterdays form. The undertone
was heavy as eonr7asted with the reslsung zen zen
delcv ~ yesterdays : dull market Fronts tor
scalping operations were very meager IN today
market and there little else doing News
developments with q general bearing on con-
di-ions were also scanty. although z few stocks
Conner rvas moderately affected hv the suppo-
sition that the dividend rate would be raised TO
per cent st tomorrow's meeting Of the direct
a-s or by the excired jump IN the London copper
market II OTe- SO ton In the price Of the
metal Vow York Central was rather markedly
heavy This was attributed 70 selling Of the
stock against new stock subscriptions. the de-
msnd Tor the rights 70 subscribe proving IN
important Consolidated Gas showed the further
effect Of the injunction 10 forbid the company
FINN shutting OF gas from consumers who re
fused n pay more than the S0-cent statutory
rate. The determination Of Albany and Sus-
quehanna stockholders 10 contest with the Del
aWarc and Hudson lessor the saving OF re-
FINDING al q reduced rate Of interest had some
rejection in the stock Of the latter The sag
emphasized BY the furry IN call money 10 81
per cent late iu the day Belated borrowers
made the rate. but the incident called attention
- the taet that the recent stream OF repien-
ishnent n bank reserves by gold imports and
by deposit OF Government funds had been ar
rested AT the same time money continues 10
20 20 the interior IN large amounts on the ex-
press movement. The shipment OF So 900 600
~ Toronto 10 forfffv the banks there IS also
eign exchange market this week has indicated
check 70 heavy remittances IN payment Of for
eign Indebtedness maturing. and this would carry
with il q cessation n the new borrowing from
local banks 70 meet these foreign payments
Today's weekly statement Of the Imperial Bank
NJ Cermsnv showed substantial recupera ton
from the depleted resources caused BY the Oc-
tober settlements Of the Bank Of England and
added considerable 70 lis bullion holdings The
downward course Of sterling exchange in this
market. however. is checked. The statement Of
uur special foreign trade for SenteEber issued
hF the Bureau nf Statistics at Washington was
scanned with attention for its bearing on the
exchange situation. The 50. 600. 600 increase in
exports for the month. due 70 manufactured ex-
ports. IS contrssetd with an expansion OF less
tlan million in imports. the large import
movement having set in by this time last year
The increase II s.. 600. 600 in the excess value
~ exports for the month compared with last
year must be regarded bur a moderate con
tributiOn 10 the expanded measure Of our for
eign borrowings for the liquidation Of which
fnerchandise exports sre relied upon. More
over the excess Of gold imports for the month
rose 20 S29.lzl.ol0 compared with S4130 7ss
lest year. rhe difference representing reduction
NJ our credit supply with foreign markets The
stock market closed easy. with little recovery
from tie late decline
s. 0sS O00
United States bonds were unchanged on call.