Salt Lake Telegram | 1930-12-12 | Page 29 | Call Money Rate Advances to 2 1-2 per Cent in N. Y.

Call Money Rate Advances to 2 21 2 2 1 Per Cent in n N N. Y N NEW W YORK YanK Dec 12 AP AP After After holding stationary at 2 per cent for 73 consecutive days call at ot tho the stock exchange loan desk was advanced to 2 2 1 per pc cent to today today today to- to day after loans were renewed al nt 2 per cent This I Ii Is th the first change since September 29 when the rate dropped to 1 2 1 per cent for tor re renewals renewals re- re fo for th tim tho first time tImo In 15 years Call money moncy hid had not exceeded 2 per cent since September 16 when It was 2 1 Although money had held of officially of- of or-I or tidally at 2 per cent for tor more than I 2 months establishing a record unequalled In Wall street annals tho rate has hns been regarded as somewhat somewhat somewhat some some- what artificial since l loans ans have been made In tho the outside market mu as ns low as 1 per cent Former money at this time o or of year jear Is a seasonal development and andIn andIn andin In addition banks have havo withdrawn funds hinds to strengthen cask cash positions Speculative c demand for tor call money noncy has been l light ht A J I