Show DISCOUNT RATE RAn I AGAIN I Bank sank of Drastic Ac Action Action Action tion Against New York Borrowers GOLD IMPORTS POSSIBLE AMERICAN STOCKS NOT AF AFFECTED AFFECTED AFFECTED TO ANY EXTENT New York York Oct Oct 21 The attention of I the tho thE financial world word was focused fou on the Bank I ank of England again today by a third advance In the official rate rte of discount to 5 6 I per pr cent On Oct Oct 7 the t rate rte was ws rat it at 3 per p cent after having stood f at j per pEr cent v since the first of April To lays days 5 per cent rate therefore represents c r c rise of 2 per cent doubling the bank j 2 pr rate in two weeks weel Such drastic action acton is h rare except in panic times and must L h 1 accepted as ae an Indication of extra extraordinary etra extraordinary ordinary conditions On Oct Ot H 31 1 1007 10 the ther r Tate tt was raised ri to 5 5 per cent from fr 4 pr I per rr cent in response to the panic which had broken out In New York York On November following the rate rt went to 6 PI pr r cent and on o Nov 7 to 7 per pr cent centis 01 is the result raul of the acute demand for Hold gold from New York for rescue pur pm PUI 1 That the present action acton of the te Bank Bankd rf d England IB Is I directed In part against Nw OY Yorks speculative borrowers is af affirm affIrm affirm firm d In news new from London and IB Is I indi t l at it d also als by the heavy selling gln of Amen Amerl Amer t tin I n securities for tor London account which I v as forced by the measures of the Bank Bankc I c J i England sales were heavy hevy today and were attributed to the closing clong out of loans in London in which these the stocks figured as collateral United Unie States State Steel Stel was w the theT ther T r nt t notably affected although none of oft 1 t tF 1 active stocks were entirely exempt f oai 11 this pressure rise rl In the thi I Lank ank of England rate rte was wae greeted by a 8 drop In the Berlin exchange on onI I ondon although all al other exchanges 1 our own moved move strongly in I f r of London Lonon In New York the th ad adi adin I InI i ant nI o in m sterling exchange was wal so 8 vh vie vi viert i nt rt as to give rise to calculations of the ther r I of gold rs exports within a short shortt shor t im mf The New York money market did didt didlot lot t share in the sensational action acton of off f 1 n ign money markets the call cl loan lon rate rateL 1 L at per pr cent as al a maximum r In h recovery recover In the stock stok market was wasT T urage by the tranquil tone of the 1 I al tl r noney oner market There Ther was evidence vl el of ot demand mand d from an uncovered short i it and United Unie States Steel Stel common an f d signs sign of an aggressive a elve turn D the shorts shorb The vigorous strength Eown Biown by Wabash preferred even oven In face fac rf of the tho early weakness of the stock stok mar market market ket hot caused conjectures concerning naother i deal in which Wabash was wa to a part The covering movement by t tf tt r shorts made the closing tone strong i Bonds were easy Total sales par p value f r O United Unie States Stats bonds bands 3 s reg 1 t red declined the registered tere 1 4 end rid the th coupon cupo 4 pr per cent reg In the bi bid id idon Ii fr t e on call cl Stock Quotations Sates Sales High Low Close Clese CI Allis Chal Chal pM pfd 10 1100 SPA i 6 51 5 BU i Amal Copper 8 82 8 83 S Am 4 4 Am Vm Beet Bet Sugar Sul 1000 10 47 46 4 W Wm 46 K Am m fan Can an pfd pM p d I 83 S 8 81 81 8 Am far Sr ar Fd 70 00 70 m 1 Cotton Coton Oil 01 1000 10 71 76 77 Am H L L I pfd pt 10 4 49 40 46 Am m Ice Sees Sec Se GOO 00 r S 25 I 27 i Am AmP Linseed Linse 3 1 6 1 16 II 18 Am Locomotive SOO f J 38 5 51 WH 58 Am S Ref 8 M 9 06 1 97 Preferred SOO 11 1 11 Ily Am Sugar Ret Ret 3 11 1 H 11 1 Am Tel Tel 34 11 11 Am Tob pfd 3 10 1004 09 99 9 99 Am m Woolen Wolen I 37 3 7 a 36 II 36 Ana Mm fn Co 48 46 48 41 48 46 6 t hlson 19 11 U 11 Preferred 2 l 10 C L SOO 5 13 13 1 Il Ohio 1600 18 16 16 1 Pr f r ed d 92 M Mt ti t St Stel Steel el 1100 T 2 32 tJ A 3 3 I Brooklyn R IL T 78 77 1 78 I Can Pacific 10 1000 IS 1 18 Central Leather Lather 47 4 49 Preferred 3 10 1 10 15 Central of N J 3 Ches Che Ohio 1 8 SO 88 Chi Alton Alien Alt 3 1 IS 6 63 6 08 Chi ChI Gt cIt Gt West Wet 10 19 10 11 18 Chi N W 9 11 18 18 Chi Mil Mu MJ St St P PC ti 11 11 l lC C C C St St L I 78 Colo Cole Fuel I 1 0 4 46 4 5 Cob Colo Clo South 51 1st preferred 1 0 7 79 7 s 78 Jd preferred 1 7 78 78 71 COns C Gas Corn Com n Products 1 21 21 21 Dot Del De Hudson Hodl 11 1 11 Denver R It G 2800 4 48 47 45 48 Preferred 2 I 85 8 S S DIst Diet Sees Se 1700 1 37 3 38 3 Erie f 3 38 33 3 33 1st preferred 14 1400 43 47 7 48 id I preferred 3 30 3 4 40 Gen Ge Electric 16 2 11 Gt Gt North pfd PM fd 10 1 18 Gt Gt N Ore CUa Cu 1 5 Si S 81 Central u u u 19 I ii br Met i C 17 i if 16 1 17 Preferred 41 49 40 48 43 4 49 Int mt Harvester JOB 19 98 r 96 Int Int Int Marine pM pfd TOO 28 21 M 21 23 21 2314 Int mt Int Paper 3 17 16 1 16 Int mt Pump 1100 1 47 41 47 4 47 Iowa Central 0 3 39 3 K C Southern Souther 1000 10 HI 44 48 43 44 Preferred 00 70 70 Louis Louie Li Nash Naoh Na 1260 12 lR l K lW Minn Mian Inn St St L 5 54 Minn St St P S Ste Marie 1 l 14 Missouri Murl Pacific 70 70 6 M 11 L K J Texas Tea U 48 41 48 Preferred 74 Nat Nat Biscuit 11 Nat Lead L 0 88 8 8 81 S Nat Nat Rys of Mex lIe Ry let 1st preferred 5 56 N Y V Central Ctrl 60 1 11 11 N Y Ont Oat Ont W 47 4 46 47 41 Norfolk W 1100 86 89 96 1 96 11 N American 1 79 70 7 79 78 Northern Pacific U Pacific Mail 40 3 38 40 4 a 17 u 14 Peoples Gas 8 11 14 15 P C C St St L L 95 9 15 94 P Steel Stel Car 8 43 4 49 43 Pull Pul Pal Car CarRy Ry Steel Stel Spring 5 4 45 4 45 Reading Reding lo I l 1 Republic Steel Stel 4 40 45 4 46 34 Preferred i 1 1 10 Rock Rok Island Co 15 30 3 33 39 Preferred SOO m 7 77 77 St L A San Fran Fan L S M preferred 57 57 57 51 St St Louis S W 39 29 Preferred 8 69 6 08 O 09 Sloss Sheffield Steel Stel Iron Ir as i 51 99 91 51 SlY Southern Pacific Paclo 13 11 1 IF Southern 5 31 I 31 3 Suther Preferred Prefer 3 70 79 70 70 I Tenn Teun Copper 35 Texas Texan Tex Pas 30 3 36 3 35 36 Tel Tol Tol St L L W SO 1 54 i i 54 5 53 Preferred 1000 10 70 W 0 70 0 Union Pacific S am 2 Preferred 1900 19 It lOl U S Realty 8 U S Rubber 4 4 48 48 43 4 41 45 H U S Steel Stel 70 90 87 8 87 90 9 Preferred In iwi 1 Utah Copper 1 48 49 47 47 47 47 Chemical 40 Wabash 21 20 21 80 rw Preferred 4 SS M 51 il 3 West Maryland 10 21 21 21 Wet Else Ele S 86 8 86 S 88 85 8 Western Weter Union B 77 77 17 7 77 Wheel L E B 9 8 f 8 WIs VIs Central 10 5 58 i 5 52 51 91 Total sales for the day shares |