Show J MONEY SOARED ALOFT YESTERDAY Speculative Activity in the Stock Market Came Caine to an Abrupt Close in iii Consequence t SELLING SELLI JG WAS WA NOT URGENT PRICES SHOWED ONLY MODERATE MODERATE MODERATE ATE DECLINES 4 New Ne York April 5 The stringency in the money market was unrelieved today and indeed showed evidence of ot aggra aggravation The effect was to paralyze spec activity in the stock market i Early in the day there was some show of in animation and a markIng up of prices an apparent effort to revive specula tive tho interest and keep koep prices moving up ward The attempt was almost entirely abandoned as soon as the loaning for the day began The selling opera pres sure BUre however was wa singularly free from urgency and the effect on prices was slight The argument is heard in this connection that the indifference of the market to the high rates for call loans Is evidence of the tho equipment of ot the ac tive parties to the speculation with mon ey p resources secured in time loans which leaves exemption from the exigencies of the call loan market The highly character of the commitments in the stock market is argued from the small general response in the way of scat soiling orders to the sharp squeezes I In mon money v In a period of ordinary speculative ac a flurry in call loans to as high 10 per cent has the effect of Inducing as spilling out of a liquidation on the part of holders unwilling to carry stocks at the th rate of Interest There has been no evi dence of ot any such result re thus far this week except in a small way and the spec position Is maintained with stub born pertinacity Prices of stocks have been held at an average level considerably above that at the close of last week al i though the maximum money rate on each eael L i successful day has amounted to a higher level leel Last weeks speculation i was based L largely on the confidence that any flurry there might be In money would be tem tern and would pass the worst on Mon day It is hardly sufficient explanation of ot the indifference to tho the money rate reflected T In the stock markets today that laive laivo holders are supplied with I t te ie funds in view of the very active borr bon I ing which occurred at the stock change hange day da after day and the eager bid ex cx ding which carried the call loan rate up with feverish fluctuations Today the rate reached 15 per cent by noon and 30 Jt r cent before the close Discussion centered enter d entirely in the money situation Rumors were wele current during durins the early earl part of the day of an engagement of sev Be oral eral ral million dollars gold for Import Ne for gold were In progress but no actual engagements were made during the tho stock exchange session Transfers through the were made today toda of to San Fran cisco and of to New Orleans The money mone situation produced Its greatest ef feet during the flurry in the closing deal Ings and closing was consequently weak but the days das s declines were restricted to A moderator moderatO proportions Bonds tJ were ere heavy Total sales sale Ua 51 oro oror par r U IT S old declined 1 per cent and the new 45 Vt per cent on call caB |