The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-11-11
GOSSIP Of Wall STREET.

III w h6IIlANOH % me eHeCI VnAL In0
situation did moi warrant any action nv. The
Treasury. The bapk a,atarao, un. /, had
one. the secretarv's statanarI vas not chesr-
ing, the market mt on = hrave front for n
time and. then gave wov nsc,,nss on ,hs
day we're not real MT ,bsy u,sra shsrn
enough IN the last fax D,inn,ss 70 -. son,s
speculative holder Of stocks faal tbanLfuI
that the dav yras SATURDAY. ard h,sin ess
had 10 cease Mt noor $3.50? .
-
Traders who a bought stock on Friday
IN the expectation that a scheme Of Treasury
sold ont e,r,y tearing an ,mfsHoSabi. hsnT
stat sment hnt vrsra afraid ,o toLa ,ha short
aide. as many Of Them had vivid recoIIectiop.
of being whinsa Uad on prsviou. occasiocs
stock sold was we'll ,aLan ercoDt in the Iost
few minutes. and wbiIs a goad man hro,,ers
chung 10 the belief that the Trsasnrv ronid
be Obliged to do sometbino before long
there were not a few Who s,nrassed Inc
opinion that the ar.t snact af ans, s,,ch raiief
would be to start gold eyports In the most
conservative quarters n Nas asserted that
continuance Of biah rates for a comnsra-
lively short time would bring into wall street
a good supplv Of. funds from ali over the
country and that a condition Of normaI ease
would thus be restored in n natural way
-
IL is' OF course. a we'll recognized fact that
mand-whicb Mt nresent js Wall stree,-but
the question arises .What will becoms Of the
bushes. Interests. Of the localities from which
the flow i. relatively beayvp" Conditions
are such that sbsorntion NV New York NAV
AFFECT the comm ercial activities Of other marta
of the country the circulated ~ money
being as essential 10 a healthy condition IN
these as the circulation OF the blood ia TO the
health of an animal II Wall street suck,
the vitality out Of the commercial centres IL
will be necessary for Secretary Shaw 10 AFFORD
relief where IL will do most good.
-
Discussing the probability that whatever
reduces the money rate here will send gold
ABROAD a well informed broker says: Should
the treasury decide TO retire bonds OF 1907
10 the extent OF 100000. 900 IL would make
little difference II We were obliged to send
tlO,OOO.WO abroad. The tension in London is
the result very largely OF conditions which
we have Imposed. and the foreigners think
there Is a moral obligation on US to take care
OF the situation. What relieves London re-
lives us. and II the relief comes through us t
dement's ourselves In the last event. l see
Shaw to do anything at present. but the same
holds good no matter from what cause money
here may work easier-gold must 90 abroad
or American stocks will be returned to this
country" .,..
=
WIN Che surplus reserve "ipeu out ahuH
ueho' VI si'oif'i@o clea'eu; .no OauA sVato-
nIenV Souru on.y I'VE rsSaIueu do a o"n Ime'
ot"ltne'Hhulns 'he uevIease ~ loahs' ouV
" 10 ln1e'eetlns " uo'e nav II u1nS'. 20 NV
oo as 20 u enS "." n" '.o .n
yea. sso' IN NoHeunoer H. 1870 .heIe wa
= uen'iv VI sE'f-1''"V' 81 n0ney ~.
loaneu III Una, wees a . nISn as ! per I'm,
% soout me Ievel toucheu last wees. IneLe
was a soou ueai VI SImIsii'y peu"eeh u
conui'lons III 'ue t"o years anu II Ie"aiiS
70 oe seen Wheener mere "ul-pe euusI elhl7
-Hn. a. ,onr =. -, au1tno
November IL last year call money rose as hlgh
as 20 per cent, out toward the close OIL the
period dropped down to low figures. At the
END OF that week the banks showed instead
oil a denclt a surplus reserve OF sz'olo.loO' ana
by November % thls mad risen Ia So'lS''loo'
although two weeks later IL was again
wiped out' Inc hlsh rates IN november
last year dreW money 20 New lorN' put Wnen
the other way. The same may occur this
around the otIeet one hears
f. II. Hartman has sold a large line OF stock
in the expectation OF getting II back 10 or 20
points lower. but nowher IL any one found
'NO - 1857
that point. The people who ask the question
do not leave themselves open to the charge
of making false statements. but OF course
there can be little doubt as TO the impression
which they mean to create. 1t would be
interesting to know why IL is desired TO create
such an impression, and perhaps a fair in
ference is that some one II anxious for an
opportunity to get stock, although, of course,
IL must not be forgotten that similar rumors
have always been among the weapons used
by a group OF speculative operators now
suspected Of operating on the bear side of
the market,
pose that T.. II. Hartman has changed his
toward the market Is that the cleo
lions on Tuesday last may not have gone TO
his liking. The results" this Grader says.
were not favorable to Hears. or Hartman.
he former did no. capture New York and
the latter did not succeed in gaining control
in any State that l know Of"
The STREE has a new argument on Southern
PGclfic--so many lemons are handed out
every day that the road Is sure OF Il tremen-
dous trafic in this class OF freight.