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Show STOCK MARKET APfECTED ' BY MONETARY CONDITIONS Money Not Especially Free Until Most Pressing Needs Are Met; Trading Transactions i Show Pronounced Falling Off. j NEW i'ORK, Dec. 5. Monetary condi- 1 tions in' their relation to the stock market mar-ket were again a factor of primary importance im-portance today, though superseded for a .time by the interest which attached to the president's message to congress. I Trices were irregular at the outset, mod-i mod-i eratety unsettled during the mid-session, and closed mostly at net gains. , Call loans old not rise above 10 percent per-cent and fell as low as 6, but money was not especially Tree until most pressing , needs had been met. Speculative shares j suffered a severe paring down at the hands of lenders where such issues were offered as collateral. Trading Takes Slump. Another significant feature resulting from the local money market was the pronounced pro-nounced falling off in tra'dins, transactions transac-tions barely amounting to Jf(J,u00 shares. This is the first full session in several weeks in which the total has not exceeded exceed-ed one million shares by a liberal margin. Price movements were accompanied by a mixture of advances and declines. Low-grade Low-grade rails, were again in high favor, both the new and old issue of Wheeling & ' Lake Erie at gains of 1 to over 3 points, with as much or more for Toledo, SI. Louis & Western, Chicago & Alton, while Lake Erie & "Western. Wisconsin Central. Texas & pacific and Western Maryland averaged 1-point gains. United States Sieel moved within a 2-point 2-point range closing at 126. a net gain of 1 points, but allied shares were more irregular, Bethlehem Steel losing 10 points. Munitions and equipments responded in variable degree to reports of new war contracts, con-tracts, butmotors were under pressure. Utilities Again Active. Utilities, as represented by Ohio and Columbia Gas. were again active with Western Union, Montana Power and North American. American Woolen and Atlantic. Gulf & West Indies were strongest strong-est of the specialties in their respeeiive classes, and Barrett Company rose 5 points on declaration of an extra 10 per cent dividend. Bonds were irregular, with further concessions con-cessions in internationals. Total sales, par value. S4, 925,000. United States bonds were unchanged on , ! |