Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-01-03
NEW YORK. STOCKSAND BONDS
Prices Wsvsr Uncertainty and Volume Of
Transactions is Small
HARTMAN GROUP IS WEAKER
Impending Inquiry by Interstate
Commerce COmmissiOn Occasion OF
the DepressiOn--Hnl Issues
Higher.

NEW YORK, Jan. 2--Priees Of STOCKS
wavered uncertainty today and showed
tendency to settle back to Mondays clos
ing level. The volume OF business was on
an Insignificant scale. The constraint OF
the speculation was not eXplainable by any
immediate developments, these being mostly
subject Of much consideration ana OF
greatly mixed Interpretation There was
wealth OF authority in evidence In the an
nual reviews on the great showing OF the
year Just past, but there was In all OF these
rather surprising unison in the note OF
full passages, and from that ranging down
ward in the scale OF optimism to an adnlis-
sion Of probable early commercial rea action
market sentiment.
The future OF the money market also
seemed far from clear In spite OF the prompt
relaxation which was manifest TO-DAY In
this market and in foreign markets as well
Berlin discount rates eaeed in way TO
give gratifying evidence of the successful
passing of the year and crisis in that mar
ket, which was especially dreaded. London
discounts ran of in a pronounced way. The
early 20 per cent rate for call loans here
was not held long. The huge volume OF the
clearing house exchanges was witness to
Monday in disposlng OF the annual require
ments. Conditions seemed tending quickly,
therefore. towards the money relaxation
market activity. A modifying factor which
must be reckoned with Is the course of the
treasury operations in the future and which
circular of the National City bank. Provis-
ion is already implied for the return Of
100000 OF government deposits held by
the banks half on January 90 and half on
February 1, and the latter date was also
mentioned as the period for beginning the
return Of the s270O0,0O0 Of deposits made
with the banks in September last The cir
cular estimates that excess OF government
revenues over. payments between now and
January 30 will amount to sS6,OO0,Oo0 sd-
dItionai. The opinion is expressed that
money rates wifi be sustained by these
causes up to the time of the maturity. OF
the $1l5,O0cOO Of 4 per cent bonds, when
the outlook will be affected by the alterna-
tive Of redemption Of the whole issue or of
partial refunding. Meantime prepayment
has been made Of all the government in
terest falling due up to and including
| A striking feature of the days financial
markets was the violent advance in the
! foreign exchange market. The demand for
| remittance seemed urgent in spite of the
easing Of money markets abroad. 1t was in
/ ferred that obligations which were deferred
/ during the stringency in money here were
being covered on large scale. The price
Of demand sterling rose fully 2 pence In
| the pound over that of last week The
| high interest rates charged on stock mar
ket account for December had a discourag-
| ing effect on holders of stocks on margin.
/ The average rate for the month charged by
| the Stock exchange houses was IL per cent
| The impending inquiry into the relations OF
the Hartman group Of railroad properties
| by the Interstate Commerce commission
was the occasion OF some depression The
Hnl stocks were supported and there was 3
subsistence OF the rumors Of money troubles
! growing out Of the severe decline in those
casionai strength. but they yiel R IN IN the
course Of the trading. The market closed
irregular and near the low prices of the
Bonds were irregular Total sales, par
value. H,S04O00. United States bonds were
unchanged on call.
The following are the quotations on the
/