Show 1 SUPPORT GIVEN STOCK MARUI Trading Was Dull But No Ten Tendency Tendency dency Toward Lower Prices Developed BROKERS RELIED ON SHAW STREET HAD A HUNCH FROM WASHINGTON New York Doc Dec 10 The stock market marketS as S still sti In he the throes of ot the money mone stringency today but support was forth cc IPing on n the recoveries and strength en ensued sued Im The effect effet fet of ot the money mane stringency there ther was scarcely Icar ly except In Inthe Inthe inthe the extreme dullness of the trading which approached stagnation at times The market had to face fare the disappointment of ot its is confident onn ent hopes that the resumption of trading today tod would find in force the plan ylan of treasury relief for the money mar market hot ket On Friday and Saturday the belief belet as that such a n measure was wa ripe for announcement The Iho firmness of It Ittle the tae market was more remarkable as such sucha a of speculative forecasts is almost sure euro to bring a certain amount of selling bv by room traders trader who operate ope rte on day lo to cay or hour to hour developments for a att attl tt rr in the market There was no evidence of severe pres pressure pressure sure sur for the reduction of loans outstanding ing in stock accounts r though although I borrowers were ere obliged to pay pa high rates again This they th seemed willing to do and there was nothing to show how forced liquidation due Out to withdrawal of credits crl yet et 38 of tnt to 51 a banks in the clearing cering house house are be below below below low the he 25 per cent reserve a Ih to the detailed showing of ot the link statement The deficit of 6 i below bd w the legal requirement would call cal for foi a scaling down of ot loans bans In iii ordinary circumstances Last year er the deficit re reported ret t ported on December 9 was followed by a aU ah U h an contraction In the following week weel 0 o Cash also flowed Cowed to New York nd helped to restore a surplus in the following week week Not only was there thero th ro no nos noGi 1 s gr gT Gi of ot loan contraction hut the tile forces force ot of depletion on the cash sh reserves con colt continued cn in operation The loss of the sub treasury since the bank statement of 2 and the government institution in was accredited at t the denting clearing house to toay tolay toony lay ony ay in the sum of U 7 Also O was wag deposited d for transfer to San Fran Franc rn c isoo j o oThere There was a further dip in foreign ex exchange EX change C rates and London advices received a 1 small smal sum of gold bullion secured in that market for New York account Casi Cas from Canada Canada is also arriving in New York to some extent attracted eted by P the high n oncy omy rates No o Important factor of re re ref 1 ft f from the tile money mone situation developed J hr tt H ver until after the tho close clos of trading All 1 IL nes were turned to the tho treasury de de deI I and assertions were repeated on ona a he red ft information of the certainty of off ofT f iri T action aton to release government funds to tn the thC market market A purchase of government 45 os of ot 1907 1901 07 was pointed to in tho the t t these rumors rumor Some of the large re rei e i for the month in iii the money ir fell within the present week in including n th the Standard Oil 01 dividend of 7 rc early arly C any 1000 payable on the On Onn tL n th are ar payable subscriptions ts to toof 30 IO of New York Central stock stockA A A further break ak In the price of H It the outside outride market was a n feature o otho of the tho day The Tile announced intention of ui th thI I commerce commission to look into ti th present rt relations of the tho tu fr itt r t companies of the dissolved Northern Northen company was the rea reasi KIT si Sir for the weakness In Jn the Hill HI group grul The Th hl market macket grew in strength trel tl when tl gew t al all 1 money mone rate mn ran rn off of in the afternoon 1 rumors rum rs become became very vCr positive a again t for th the thA money mont market bj by b bt t lb h States State treasury was aJ imminent l ruing St Paul and Amalgamated Cop Coppi CopI pi I r were conspicuous in the advance Lends were wre irregular Total sales par pari parc pr prIe i Ie el c J I States advanced per cent and aud the old 45 4 per cent on call cn |