Omaha daily bee., 1906-10-27
NEW YORK STOCKS LNDBONDS
Speculative Liquidation Early in the Day
Sends Prices Downward
RALLY WIN LONDON MARKET CLOSES
Fenrs OF Financial Trouble on settle
meat Nay Abroad Prove Un-
sroundea and values Recover
Money Market IL Easier.

NEW YORK, oct. 8.-Considerable spec
ulative LIQUIDATION occurred I'm the stock
market today, although tho latter part OF
pressure and substantial recOveries to the
highest OF the day. The early selling was
not attributed especially TO London, but
the recovery set IN about the time the
t.idins Iui the DAY there Yves over. Atten-
tlou was paid to the London market for
the concentration Of periodical settlement
there. which occurred today, and which
carries over stock marked accounts for
trouble in connection with the concentra-
ton of the settlement proved unfounded,
only one small failure being reported. The
recovery in this market was partly due TO
The morning fall in prices did not become
precipitate but was impressive for the
steady stream Of selling orders and the
apparent lack of any supporting measures
The selling had the advantage OF con-
siderable advance in prices at the opening
10 start from and the recovery MADE net
gains for the day. on the decline prices
I'm many portions Of the list fell through
the low levels touched in the dsordorly
break Of last Saturday, thus confirming
the common assumption Of a tendency or
prices to sag slowly after first IfcoVfgy
from a sharp break until the low ieveR IL
touched again. The political outlook and
the discussion OF labor difficulties on some
OF the railroad systems were given some
part In the encouragement manifest In
the speculative tone. Preliminary estimates
pointed to weak bank return, but the
publication Of these estimates did not
I
terror has evidently drawn heavily on
New York again by the express movement,
! the loss I'm balance by the New York
! banks on that account being figured in
! the neighborhood OF 100000, while the
subtreasury operations have Withdrawn
! from the banks 1885,, 600 The cash losses
| thus indicated would not leave much of
| the surplus Of IS, 200, $50 over the legal re-
| serve shown by the last Saturdays bank
1 statement. Upwards of 100000 was trans
/ ferred to the city from San Francisco by
4 telegraph through the subtreasury today,
| but this r. on account of Australian gold
! received on the Pacific coast and IS sub
/ jeot to repayment to the government for
/ sold advanced at the time the engagement
/ was made for import. There Is a fairly
| general agreement also that loans have
= expanded materially during the week. not
| for speculative use I'm the stock market.
! but for taking up obligations transferred
! from the London market. The call loan
market continued easy I'm spite of the
| seeming position of the banks. The time
| loan market. however. remained strong.
| There was some subsistence of demand in
| the foreign exchange market with the COM
] pletion OF the London settlement, but rates
| were we'll maintained. The recovery be-
| came slower az prices rose again above
| last nights level and the closing was rather
! heavy, but was only slightly below the
! highest prices Of the day touched on the
| recovery.
Bonds were irregular Total sales, par
| value, H,7tS,OO0. United States bonds were
unchanged on call.
Quotations on the New York Stock ex-
change today were as follows: