Evening star., 1907-10-31
Market Quite Easy Today for
Months End.
BIG PAYMENTS FOR NOV.
London Reported Generally Firm
Americans Advance.
GOSSIP OVER CITY BOND SALE
Further Large Engagements Of Cold
for Import Announced-Unusu-
ally Irregular Fluctuations.

Spr.'.I .-nar.a 80 III" Star
NEW YORK. .to6cr Sin view Of
tie fa.t that today was the end Of
the month and THAT t0morrow's inter
est disbursements are unusually heavy.
to say nothing OF other matters tend
ing to contract The money market, the
latter was This morning remarkably
easy. Persons desirous oI obtaining
accommodation could readily provide
for their requirements during the fore
noon in the neighborhood of 70 per
cent. Forty per cent was the highest
fgure quoted during that time, and re-
newals on standing loans were sener-
ally fixed q ~ and - per cent
As had been expected, the Bank of Eng
land ANNOUNCED an ADJ anCe in its mini
mum rate of discount. the figure rising
from ~ IT, -. per cent The bank re-
ported. Ut course, a very heavy loss in
bullion on account of the American gold
Withdrawals Despite, however. the ad-
vance in the bank g discount rate and the
occurrence Uf several failures upon the
London stock exchange one of which
was described as being fairly important
the London stock market was generally
firm and American shares were quoted
there at quite striking advances above
parity with New York S closing figures Of
for foreign account showed trifiing re-
suits with d slight excess of purchases.
The other most important item In the
morning news was the announcement of
the sale by the city of $50, 0tOUO0 of per
cent revenue bonds Complete details of
the tranSa Ction we're not available until
late in the afternoon. II seemed to be the
opinion that the issue of these bonds
might have temporarily depressing in
fiuenCe upon the nveStment situation, but
Is rnnStdpTa
portions of the SSue are likely to be
placed In Paris. the position of this coun-
try In the international money market
will be Correspondingly strengthened.
Sterling exchange broke badly during
the morning and further large engage
ments Of gold for Import were announced
Wide and Irregular Fluctuations.
The stock market showed wide and un-
usually irregular fluctuations even for
these unsettled times. Union Pacific was
the conspicuous feature of the dealings In
all respects. A rapid rise in the stock
during the morning was ostensibly based
upon the notion that the shareholders will
be in the receipt of valuable privileges
through the creation of a holding COM
psny for the Union Pacifcs investments
in the shares of other railway corpora
tions
on Ine Otner ndnO, transactions IN
Union Pacific preferred. which might be
assumed to share In any such benefits.
were upon a negligible scale. Pennsyiva-
MIA was comparatively heavy although.
according 10 Philadelphia advices the
maintenance of the dividend at the pres
ent rate was regarded there as assured
Delaware and Hudson reflected natural
ly the liquidation of the loans of a firm
which suspended recently with large hold
ings Of the stock. 1t will be recalled that
the Injunction against the sale of the col
iaterals of the house in question was d s.
solved yesterday afternoon
Generally speaking. however it was as
httle necessary to attempt to assign rea-
sons Tor the movements In individual
stocks as II has been for the past two or
three weeks. The trading was at all times
characterized by nervous and feverish
tendencies. and there was quite a marked
revival OF uueaSiuess with regard to the
fnancal standing of a number of firms
and Institutions