Omaha daily bee., 1906-12-08
NEW YORKSTOCKS ANDBONDS
Call Money Market pens at hirty- s Z
Per Cent and Closes at NO Per Cent,
REASON FOR UNUSUAL MOVEMENT OBSCURE
Secretary of Treasury Expected "a
Make Deposits I'm Banks Before
MOnday-Mnrket Generally
Strong and Higher.

NEW YORK, Dec. Money on call
leaned at 36 per cent early today, bstl-
mates Of the weeks currency movement
| indicated a cash loss by the banks Of be-
tween $4,000 and 100000, without allow
| Ing for the carrying over Of the effect OF
' Losses on t6s 1y se s sys5g
/ OF the banks stood at less than 2,O00000
and as the stock market has reflected no
! important liquidation during the week, the
! suppOsition that tOmorrow's bank state
| ment would show deficit did not seem
| strained and was generally current in the
withstanding this condition, stocks offered
/ stubborn resistance TO pressure for time
and then turned upwards to good net gains,
/ while the money rate ran OF to per cent
! with an appearance Of the urgent demand
| being entirely satisfied.
! Explanation of this anomalous course Of
| events was obscureI The persistent frm-
| ness of stocks was attributed at FIRST to a
/ prevailing confidence that further measures
Treasury department were Imminent. The
| supposed measures took the form, In the
favorite rumors, either Of further deposits
OF government funds with the national
| banks or OF redemption OF the per cent
bonds Of 1907 in advance Of maturity No
source Of actual relief for the money mar
ket was known to be IN effect Sterling
| exchange made a downward plunge in re-
spouse to the stringent condition Of the
There was very active discussion Of the
abuses connected with the excessive rates
! Tor money on call at the Stock exchange
| Accusations of manipulation for the benefit
Of the lenders found their place in the dis
cussion. The abrupt decline in rates late
charges. It was evident however, that
most Of the demands for the day had been
satisfied when the rate declined Profess
slonal operators also made much OF the
fact that stocks bought at the Stock ex-
change today do not call for payment until
Monday under the rules Of the exchange
Some OF the buying was evidently due e
this condition and based on the assumption
J that relief would come to the money mar.
ket by treasury action before payment be.
came due Monday. The transfer OF
funds to New Orleans through the sub
/, treasury continued today. Up to Thurs
day evening S20l5000 had gone to thai
destination and S2.S0OQO0 to San Francisco
while customs collections had reached
total OF over s.. 10000. The regular express
movement with the interior was agains
tween $1,OC0O0O and S2,OOOOOO. The tim,
money rates continued TO move upwards
but rates were largely nominal, thert
were practically no funds offering in tina
/ DEPARTMENT.
During the decline early in the day Their,
was some special pressure against tn,
Hartman Pac!fics, based on the proposed
) government investigation OF the relation
between the Union and Southern Pacific
other topic but the money situation. TIL
market closed strong at the recovery ant
: at substantial net gains on the day.
: Bonds were Irregular. Total sales, pa
value. $l.99S,0O0. United States D, regis
tered. advanced Y per cent on call.
The following was the range OF prices Of
the New York stock exchange;