Omaha daily bee., 1909-04-24
NEW IORE STOCKS AND BONDS
Calling Of Loans Induces Speculative
Liquidation Early in Day.
GENERALLY LOWER
Favorable IBcideRts Were Ignored
and Closing Tone is weak-wheat
Market closely watched
Bonds Arc Irregular.

NEW YORK. April 23.-There was some
calling OF loans going on today by the
banks and the search for renewed &C.
commodation, while without violent effect
on the call loan rate. apparently mad the
effect of Inducing some speculative liquida-
ton. The call loan rate touched 3 per
cent, which IL higher than since the first
week In January. The sales for foreign
account overbalanced the purchases and
sons renewed anxiety eyer o the t fltuat S09
from the special weakness of Turkish
bonds in the European markets. These
were the only perceptible factors to In
duce weakness in the stock market.
Revised estimates of crop prospects con-
tinued to come in, indicating greatly en-
larged Yield, as compared with the Sc
verely impaired crop which was held in,
while wheat prices were mounting by
leaps and bounds. An attentive eye was
however. with the idea that the revulsion
OF sentiment resulting from the slump in
wheat might lead to too sanguine opinions
of the real crop situation. The opening
bulge in wheat caused some chill to the
speculative sentiment In the stock market
partly effective in quieting apprehension.
The calling of loans by the banks evil
IDENTIFY was for the purpose of meeting
the demands on their resources incident
to the successive issues OF new bonds.
Railroad corporations have figured con-
fidently in these new issues, bot the an
bonds by the Corn Products company
brought the industrials into the repre-
Sentation. Reports continue of the read1-
ness with which these bond issues are
passed drom the hands of the under
writer's into those Of secondary investors.
Estimates of the weeks currency move
ment indicate that there has been a sub
~stantisl addition to the cash holdings of
the banks, in spite of the S2,5OO,000 of gold
shipped abroad. Subtreasury operations
yielded S,153.00 so that the net receipts
on the interior movement went to all the
advantage of the banks. II is believed the
interior receipts exceed the pme to
the neighborhood OF $4,0O0,O0O. Withdrawals
Of $500, 600 gold from the subtreasury for
export was announced late in the day.
There was a marked subsidence in the
rate Of absorption OF bonds at the stock
exchange today, and this also might be
fairly attributed to the changed outlook
In the none market. Bankers are begin
mig to consider possible advances in in
terest rates.
Favorable incidents were ignored by to-
days stock market. although there were
some stocks here and there which made
a show OF strength. TIL belief is UNI
changed that an agreement is imminent
between anthracite miners and operators
for a wage settlement. The more hopeful
rumors of the complexion Of the forthcom-
ing quarterly report OF the earnings OF
the United States Steel. corporation were
heard still, but with impaired Influence
The shorts showed some urgency TO cover
In the late market, but the closing tone
Of the market was generally weak anC
showed losses for the day.
Bonds were irregular. Total sales, pa
value, $S,07S,OO0 United States bonds were
unchanged on call.
Number of sales and leading quotations
on bonds were: