The daily morning journal and courier., 1906-04-10
STOCK MARKET FEATURES
PRICES HELD WELL BUT FELL
 OFF AT CLOSE.

Tight Money Stlll the SOng-A Million
 OF so of Gold Squeezed Out from
 EurOpe-CalI Money Hung Around 25
 Per Cent.--GOssip of the Day.
 The stock market held well yester- day, but near the close with call money twenty-four per cent, prices fell off little.
 With tight money and the coal con- ference put off until today, there was little incentive to bull stocks.
 The money question was overshadow- ing. Some 1lickering hopes were excit- ed over the announcement that mill lion in gold had been picked up in Europe for the market.
 A London dispatch last evening says: "eThe United States has secured all the available supplies of gold in the London market this week, aggregating $,250,- GOO, after keen competition with France. The price was 77s. Il IA d. to 77s. il 1-2d., which is fraction above the fixed market rate, ITS. Il 1-8d.
 The National City Bank authorized the statement yesterday that it had se- cured $1,0O0,000 gold abroad for import to New York. It is understood that the gold engaged in South African gold which has just reached London. Last week the bank obtained $250,0O0
 Sterling exchange rates yesterday touched $4S42, the lowest price in some time. Call money on the New York Stock exchange, after opening at 22 per cent, fell to 15 per cent, and then rose to 25 per cent.
 Just before the closing, call money was at 12.
 Most of the banks renewed out standing loans at 20 per cent, although it was reported that one institution in- sisted on 25 per cent. prominent feature of yesterday was the rise in time money. Six per cent. was the low est for any maturity, while for thirty days per cent. was paid, a rate all most unprecedented in April.
 The gold obtained yesterday prac- tically cleans up all the available sup ply in London, but next week $2,15O,OOO more is due, with $15O0,OOO additional in the week after. However, over s., 100000 Russian gold is coming to Ber- lin, and possibly some of this may be secured.
 With yesterdays engagement of $1.- 0OOOOO in gold from London the total movement thus far figures up $4,000,O0O.
 The Chicago banks were reported to be losing cash heavily.
 The dullness in stocks was well illus trated by the fact that there was only a single transaction of 100 shares in United States Steel common during the hour between 12 and 1 o'clock
 It was generally thought that the best thing Just now for the stock mar ket would be period of quietness.
 In the half-hour between 12:SO and 1 o'clock, the ticker was extremely quiet. All in all, there were only forty-three actual sales in all this time, and a large number of these were in Atchison rights.
 Wall street looks for very favorable showing as to winter wheat by today's government crop report.
 Most of the large banks had very lit tie time money to lend and told their customers plainly that they preferred to do business on a call basis under present conditions.
 Selling on the dullness was one of the explanations advanced for the weakness that developed in the after noon. Another and better reason was found in the continued strength Of the money market There was nothing un- favorable in the general news; even the days developments at the coal confer ence may reasonably have suggested approaching compromise. Yet, in the stock markets mood, Reading stock was one of the points of weakness at the close.
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