| Show REVIEW Of l LAST ST Ml WEEK IN ILL J lL ST SI Profits of Years Were Ware Swept I Away Awny By Successive Liquidations ns I ROCK BOTTOM IS REACHED t nill 1 II t g I t RU tIE of III I t I oJ I jl I Brin I 1111 I Cot porn orries W New Nc Alls tig 18 The decline In prices which been beon In III Ii progress plo for some Borni continued during the past pastIe Ie t ek k with many the tho lowest In year Suc Successive e waves ot of turIng during tho the III I few tew have swept away owa tho the of ot years have hn 0 the tho IheI I tk sensitive and nn 1 Tho Tha onuses Ilses of ut othe utie he ie have haxe been hren and nrc the tho fUrR of ot a n further restrictive campaign 3 by th the niP next lIc Con Congress gress re res nad tho legislature le ow ov varIous hIgher for tor or money mone monc with re supply of ot jf available funds at up Indifference to 10 the II In prices prIc on tin the th part ot Interests with large lame capital Investments nt ut stake signs of oC weal weak spots In III the trade trado tra and condition C that any nn ft hope of ot limned Into old uld rom Europe 1 for tOI American bu s en cs or stock market operations The rho week began begun with the market mar under tinder Ul er erI I t cloud WEEK W EI OPENED OPE ED NERVOUS Liquidation had hati not nol run KB Its course von II utter after the tho 10 and 1 IB 15 point decline df if the he preceding week Tho rho heavy hea y ic re In loans arc are previous Satur I Iny lay hardly i compensated for the large oss Os In cash and With another govern I nent report nn mi the Standard OH Oil com corn coman any an published Monday donday Wall Tall street tho the week nervous nerous and lye CORPORATIONS SOAKED SCARED D i Combined with this were the of or o a i cabinet member concerning ho he proposed plan Illan of prosecution c of or cor corbra bra lion who vIolate tho the law la Vs U 11 u a I result holders hol ers of or securities dIll did didlot lot now flOW how long their would IC e Immune from attack k Fears of or fur furher furher her proceedings proceeding against corporations undo the capitalists back hack of them in ns nil to tc the tho outcome and It was that Ihal they wee giving no sup slip supot ot to the The Tho of the operators operator while not disturb ng HK to 10 business caused causell annoyance und and nn 1 Jio Ju most was made mado ma e of ot It Il as us an 1111 una l Incident MONEY IS MONEY MONET MONEYMore Y Yore More ore legItImate however as ts or I r lower prices was WM the failure of the tho Pope ope OIO Manufacturing company and the created ot or similar em In other othor quarters An ex cx of or the tho of ot tho the money mar martet marlet let tet Is given Riven by the fact that tho the Con Consolidated Gas Gns company which Is II dom darn by Standard Oil Cli Interests was to borrow on one year notes at tt per cent A largo large amount or of money nn ns loaned for tor six months tit tt 7 vcr per cut Commercial paper seems Moms to bo be ella dis slowly and an 1 the tho baSIcs bUlles report Pu d many clients who seldom came cie to them thorn for accommodations forced to orrow orlow because of ot poor collections On hc he other r hand han 1 cull call loans were sur low but this reflected more mere merey iy y i the e of at lenders to koop their In lit hand h The rho shrinkage In to has been biMi b on to allow In me to keep pace with pre pro Interest rates Many lint properties sold during the tho past from to ess In market markel value than on the tho first If f r and prime railroad at dividend rates have havo begun to return investors from train 6 G to 7 per cent ns ls they offered a fI yield lel 1 of but 4 to 10 E G per cent not so many months ago DUPLICATION ABROAD Domestic money conditions have been duplicated abroad the themo most mo 1 striking l of this by b thiO th Hank flank or of I action In Its Ia official rate rato to 4 H per cont cent This fills was moro more In 11 view of the fact that Its reserves In Increased increased creased 1 I t per cent anti and alii went vent above the figure of the year before Price t Its lIs recent advance the tho hank bank had announced Its refusal to discount for tor tho tile open market at less than 4 per percent percent percent cent The Tho whole run of this plan appears to be bo to clear the London Itch Held ot of tho tile many finance bills which h tho the Joint banks ban Its have accepted in largo large the past two months and which were beginning to threaten tho the gold reserve of the Hank Bank B ot of England Evidently Evl that Institution determined In hand this year to take matters early carl enough h to prevent n a 1 recurrence of ot the gold exports to American mar markets market ket which resulted In such confusion In November nod ond December of Insl year Locally there th re Is a disposition to rely reI on the treasury again lIln for assist assistance alice ance but bul so 80 far that department has hasin in ma made rule e no sign slim Meanwhile the Now New o York Tork banks are low In reserve tho the Interior Is Ii keep keeping lug ing up Its exchange against New York and the season which drains tho reserve resele cities each year despite the tho talk of ability of ot the In Interior interior to finance Itself Is moving along to Its lis flood |
