Omaha daily bee., 1909-10-02
NEW YORK STOCKS AND BONDS
Call Money Market Shows Effect of
Special Demands.
NEW RECORD FOR STEEL COMMON
Atchison Also Goes 10 High MARI
Because of Dividend Rumors-
Market Turns weak and
Close f. Irregular.

NEW YORK. oct. 1.-The call money
market showed the effect Of the special
requirement upon It and the higher rate
on interest or the Limitation Of funds offer
ing which caused il, held the speculation
IN restraint. The further phenomenal rise
IN United States Steel to new high records
helped to hold prices elsewhere against the
influence of the dull demand. Atchison also
sold at a new high record under the in
splration OF intimations regarding the
chances for an advance in the dividend
Iate next week. In some other stocks that
nave advanced on dividend prospects,
doubts of an increase were asserted and
the stocks suffered accordingly.
Inc estimate OF the weeks currency
movement tailed to show any great off
setting influence to the drain on routine
operations from the cash brought to the
city by the Hudson-Fulton celebration Wis
!lots. Ihe express movement with the in
terror seems to have yielded a mail gain
on balance for New York, but II Is a
slight proportion OF the s., 0S1. 900 which the
banks have lost on subtreasury operations,
to which Ia TO be added 81, 300. 900 In gold
shipped to Canada and $1,000 900 deposited
AT the subtreasury today for telegraphio
transfer to San Francisco, presumably for
Shipment TO Japan. The shipment is for
London account and calls attention to the
control Of resources in New York given to
London by the International exchange po-
sltlon. A sharp advance in the private
discount rate in London today gave point
to the prediction which came from there
that the Bank OF England would raise its
official discount rate before the end of
october. The New York exchange rate at
Chicago fell back again today to 30 cents
discount per $1,000 and showed the re-
newal Of interior demand on New York for
currency. In addition to the adverse trade
balance there are heavy maturities ap-
preaching of obligations for American Sc
curtties held in England, notably SIS, 100000
OF New York City revenue warrants, which
come due November /. AS to our own inte-
rior banking situation the compilation just
published Of reports of the comptroller Of
condition as of September l shows how we'll
loaned up were the national banks OF the
country at that date. The loan Item had
increased nearly 500, 900 900 since June %
OF this year and over 1878, 000,00 since Sep
TENDER % of last year, the deposits had
Increased Sill, S16, 900 and S461, 75s 1000 for the
same periods respectively, while the cash
holding had fallen off in the shorter
period SAB coo. AS a consequence the
2.67 compared with 2237 on June % and
22.97 on September % last year. Money on
call opened at 4 per cent today and then
ran off to 3 per cent with reassuring
effect on the speculative tone.
There was some small response, however,
to the strength of United States Steel,
Reading, Atchison and a few others and
when the call loan rate stiffened to "a
per cent late in the day it had a weak
ening effect on the whole market. The
final uprush of United States Steel TO "
left the closing tone irregular.
Bonds were unchanged on call.
Number Of sales and leading quotations
on stocks today were as follows: