Omaha daily bee., 1907-02-19
NEW YORK STOCkS ASDBONDS
Dealings Are LARGELY Professional and
Movement Irregular and Essitat.ng.
TINE AND CALL MONEY RATES FIRM
seIIinE, Continues All Day and Marke
is weak Except at Close, when
II Becomes Firm on Buy
ing by Bears.

NEW YORK. Feb. lathe dealings in to-
days market appeared to be Largely profes-
siOnal In their origin. The moN ement was
the professional traders 10 grope Tor an
enecIve leadership. The incident that had
most 70 90 with Curbiug the deman
which started early prices upwards was the
character OF the selling in Amalgamated
copper and Ana conda-
The traders turned to the short side OF
the market or reduced long commitments
in response to this supposed admonItion.
The market also was confronted with the
news that the Bank Of England had again
secured ali Of the arrivals OF South African
gold in London, thus belying the confident
expectation OF last week that the inward
movement Of gold would begin this week.
This represents the progress Of efforts in
the various financial markets to work out
the nice balance OF their several needs with
as little unsettlement as possible. Sterling
exchange IN / arts rose vigorously Today ana
this Was attributed TO remittances from
Paris to London in payment OF subscriptions
TO American railroad note issues. An accu-
mutation OF American credits In London is
thus going on and the absence Of competi-
ton against the Bank Of England for the
gold IN London vas again said TO be due
needs of London market. The London
Ststist says:
The furry which arose last autumn re-
suited entirely from the fact that New
York was unaware of London having
reached the limit Of its gold resources. Had
New York been closely acquainted with
ably have been stopped before the advance
IN the Bank Of England rate to 6 per cent
became necessary"
This means that shipments Of gold from
London TO New York are dependent only
on any real need in the New York market
The days rumors today were largely
dealing with supposed coming note issues
OF which the extent and variety were said
TO be great. No authoritative announce
ments followed the rumors. The complla-
ton OF Pational bank returns to the comp
troller, received from Washington today
claimed the principal interest, on account
OF the increasing excess Of the loan item
over the individual deposits. In fact. COM
pared with the previous statement OF No
Nember r. there has been an actual shrink
age In the deposit item Of over Sl74. COZ. 600
while loans have expanded in the same
time, 81, 222, 3S3. and over January last year
upwards of SS92, 600. 900. II is because Of this
movement Of the deposit item that the
banks, while showing a decline Of some
$4,000 since November n their cash hold
ings, are able to report n Increase In pro.
portion of reserve to deposits from POS
per cent to H.5s per cent
money was firm today both for call and
time loans, partly on account OF the fail
nre 10 engage any gold in London for New
YORK The prospect OF the early rtsump
1 tion Of the Interstate Commerce commits
SONS inquiry into the Hartman RAILROAD
combination was made something Of n
the depressed movement Of the mark ct
The selling paused at intervals but was re
sued, except the final covering movement
among street bears. which brought thu
market TO a firm closing.
Bonds were heavy. Total sales par value
u .5S6 600. United States bonds were un
The following was the range Of prices or
the New York Stock exchange:
Sales High Low Close