Omaha daily bee., 1909-10-14
new YORK STOCKS AND BONDS
Stock Market Relspses Into Quiet and
Days Sales Fall to Low Mark.
BROKERS BID FOR TINE LOANS
Rates for Most Maturities Advance
in Money Exchange-PrivRte
Discount Rates I'm London
Rise Above Bank Rate.

NEW YORK, oct. lathe stock market
relapSed into quiet today, the days sales
falling to the smallest total in over a
week. The fact that this subsistence of ac-
tivity came after a check to the decline
had been accomplished, became more pro-
nounced as the level of prices advanced,
and gave an impression of technical weak
ness in the market position. There was &C
tive selling during the morning in continu-
alton of liquidation.
The low prices which resulted during
the first hour was lower generally than
In the active selling on Monday and, conse-
quCntly, the lowest touched on the re-
action. Cash holdings Of the New York
banks commune TO diminish before the de-
manus of tHe interior for currency, those
demands finding a scope also In the shift
ing OF aymen to the government on the
New York banks by means of drafts,
which we're responsible Tor the drain to
the subtreasuTy. The sum taken by that
institution from the banks for the bank
ing week has arisen to SJ,65o,OOO, which is
several hundred thousand dollars In excess
OF the sum lost to the same point !. the
corresponding period OF last week.
The tightening Of the money market was
operative in the time loan division today,
where rates for most securities were ad-
Vanced 10 a. per cent and the asking
rate to 5 per cent. Prime grades of COM
mercial paper commanded "A to 5h per
cent.
Stock brokers who have depended on
call loans in the confidence that money
would emain easy throughout the tall'
oA1 oAAAN1 ~ NAAAAR aeAAkH
The call money branch was less affected,
the demand there suUslding with the stock
market liquidation which had been eff
fected. Foreign money markets continued
TO utter their warning against further in
roads from American borrowers by putting
up discount rates. Private discount rates
in Lonuon rose well above the bank rate,
pointing clearly TO the prospect Of another
rise IN the bank rate tomorrow. Foreign
exchange rates here were responsive to the
hardening money rates abroad rather than
here, and rose strongly away from the
gold import point. 1t As PROBABLE accumu-
lalon OF coinage has begun against some
OF the heavy maturities of American in
debtedness which fell due about Novem-
Der 1. Attempts at renewal OF maturing
foreign loans are Qbstructed by the later
developments in the money markets.
September exports of agriculture prod
ucts showed some Improvement, thanks
10 the high price Of cotton, but the sus-
tanned Vaiue OF imports Is believed to be
sufficient to keep the balance against this
country IN the foreign exchange market
news developments Strength in Missouri
Kansas and Texas was said to be due to
cumulato but the demand died GU.
when the general movement turned up
wards. The southern storm and the west
ern' cold wave, with the property damage
involved were not in favor OF values. 1n'
market later had a somewhat unsteady
appearance, but last prices were only
slightly below the best.
BONDS we're Irregular. Total Salesi pa
value, 1885, 90. United States bonds were
unchanged on call.
Nun.Der Oh sales and leading quotations