Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-11-27
FINANCE AND COMMERCE
wan street.

New York. Nov. 26.-There we're
none u the signs u selling out Of coll
lateral on loans ln tpday's stock mar
ket. such as has been the depressing
influence az intervals for some time
past Free from his influence the
scarcity Or the market supply Of
stocks again became manifest ami
prices advanced easily on q small de-
mand. The advance Goo prices did not
bring out increased offerings, but the
scanty demand became even lighter.
leaving the market lea a condition Of
extreme dizziness in some % the later
stages 4 feature Of the day was the
growing ease Of caN mons due
largely 90 the small demands for loans
At the stock exchange The approach
Of the end 81 the month leaves open
a probability % q temporary harden
Ing Of money rates 70 meet the large
requirements Of that period. These
include an installment uf subscriptions
20 new 81 Paul stock. originally fixed
al 20 per cent. but reduced 20 ten per
cent. since the financial stringency
developed. ana calling for approx
matelN $4,000. GEO az that figure
Great Northern stock subscriptions
also are payable IN an i%nstanmemt
calling for &3,000.100. The interest
and dividend payments for December
still show an aggregate far Ca excess
0f previous years. arguing the coutln-
ued high rate Of distribution Of prof
its The ease Of the call loan market
did not bring corresponding increase
the demand for commercial paper.
for which there Is yet practically no
market This condition g. greatly ham,
pering the conduct % commercial op-
erations. and Is one Of the phases os
the situation calling most preszingly
for relief some Of the largest deal
Ia commercial paper In New York
calling the attention Of small in
terror banks TO the Importance Of set
ting In motion credit operations Of
this class. The refusal 10 take COM
mercial paper by the small Interior
banks T. charged by the New York
dealers 60 be an accompaniment Of a
piliug up Of cash holdings 20 the
point Of surfeit The statement Of the
bank examiner o. the Pitts
burg district published today was cited
IN corrobcration Of the state Of things
charged, In which he asserted sixteen
county banks in that district have
from rs 90 20 per cent above the legal
ln cash holdings such
Items 81 Information serve 20 confirm
growing confidence that the re-
NJ cash payments by the
d. at hand Consultations 20 his
end continue between haukirs repre-
large territory. The days
most Important development Soc con-
nectiou With these consultations was
favorable light thrown IN a.
fairs If a western banking institution
which has been the subject Of suspi-
eipn IN the recent past. but which is
known 60 be- insured. the COM
bined protection and pledged support
Of The banks % several OF the great
money centers, Including New York.
one obstacle 10 the resumption Or
normal banking conditions was thus
definitely removed
Time money brokers reported some
slight Increase On the supply u funds
n that department. although the
there was stnl largely noml-
sales ~ currency were o. only
few thousand dollars. mostly On
llls Of the smallest denominations.
10 be- Tor pay ron purposes
The rates paid Tor foreign exchange 4
afrT lower Hnd tndaNs engagements
lf gold abroad were light The pri-
.ais rate ~ discount declined On Lon
which was known to reflect a be-
igf thai our demands Tor gold are
owIug tu "a limit some heavy trans
.rrs through the -ub-trsasury o. chi
ago mgde later Dos the day. are con-
lrUtei with abe forwarding ~ gold
wTHrf- and efficient aids tovarl the
tstife preparation thereof or rezuHp-
BON OF each payments hy the banks
stocks retained fhe fuIl days Ealns 90
GW ..a.H