Show L MARKET HAS NARROWED I Operations Entirely in Hands of Room Traders Who Are Very Cautious WALL STREET MARKS TIME BETTER CONDITIONS CC EXPECTED AT BEGINNING OF NEW YEARN YEARy YEAR N V w y rk Dec Dee 7 The stock stcl market V nod d perceptibly In Its speculative Market larkEt pools operated op by b fits Its and VV 1 M 11 chosen Mocks Hocks The operations V V almost entirely in the tho hands of ot the th fa J T who wIlo conducted their trans V ns with great circumspection The of or the days move mOe mOed V k o C d ision In any of d i eals accurately the speculative the lit t prevailing for lor the moment VV V Uj motives for tor conservatism are per peri perl V V the probable course of events i 1 l in 10 fl the to prompt a av aT ac V i V i the th end of f year attitude The conviction Is very v T that whatever slight firmness I rc may be In III the money market in 11 nn tim tun with tho the approach of the end endi endt i t the year and its many requirements t te e turn of the year ear will see a relaxation t i PD greater ease The disbursement of or yearly Interest and dividend money 15 Lq upon to revive an retire invest nut neit demand The element el ment In the speculation speculation lation which takes takee this view of the outlook expects the stock market to mark time timer I V narrowly until the end of 0 the thear thear I Ii 1 ri r fluctuate take a vigorous advance I i ar and then up again There wore wre no developments today to t a the course of af affairs affaire erv clear light on m faST fairs faire throw very Some compilations published by the Journal of ol Commerce Commer of ot average stock made up from a canvass of at a ar al 7 number r of ot railroad and industrial l ri give ghe some indications of ot the then n of III f holdings which resulted f fm m the upheaval of or the past year Jear From Fromi i is s It appears that forty orty industrial cor corr r n i in la which the he average number of f stockholders was wa JWO for the panic t h id d increased a this number to In De a year ago and to 6 now no For POI railroad corporations the fig figures ures uree for the same periods were before belore n sank in December a year ear ago and aM at the present time This is a aNY atry try NY strong showing of the extent to formerly concentrated holdings of shares have been scattered t smaller holdings in a larger number PI OJ hands The wider Interest In the welfare ellare of ot corporations to be Inferred from this showing is counted upon to soften the tone tre of Of public hostility towards corpora corporations corporatIOns tuns to a considerable extent and so to the th course of ot proposed legisla m 1 It is Lo evidence of the alertness shown by a large class of ot Investors to take advantage a antage of ot the low how values which ruled during daring the past year The absorption of the floating supply c o shares In the stock market thus ef effected effected formed a substantial foundation on which to start the extensive rise in inn n ts has occurred since As to 1 bw w IW tr lr holdings have been redistributed i net nr as is a result of or the attraction of ot the prices brought about in lit the specula ri tt fIn n C only on I suppositions can be made The sifting if tine of purely speculative holdings h aio ais do not often otten figure CI ure on the BUdt transfer books of ot corporations has hason no on light thrown on oa it by b these figures The publication of ot the governments Dec Dee 1 estimate of tho the condition of ot the winter wheat crop was an event of some Importance tance lincE The real significance of the 53 rendition in the wheat market and the ex exaggerated estimates 4 of ot the tho damage done donet to t the plant of ot private experts last week The violent break in the price of ot wheat which followed the appearance of ot the re report report report port was due to the previous advance ba d on these reports The commence i nt of dividends at the rate of ot 4 I per cent centI ii CL I Wisconsin Central preferred stock was wasa as asa a sustaining factor in keeping alive spec a u interest in that class of ot stocks which have hae furnished the features of the market for some time past Paris again took tok the available supply of gold In Lon London don and discounts advanced there Bonds BondI were firm Total sales par val valve valI ve ul I t I d States bonds bond registered advanced 3 J i er r cent on call I |