Show MONEY MARKET RULING RULIN STREET i Unfavorable Bank Conditions Overshadow All Other Considerations RATES TIGHTEN FURTHER Speculative Community Stick to Xi-n- Xi U- U trul Attitude and ity rl Pro Prevails ails ails- New York Dec S. S Trading 8 on the stock exchange today was of decidedly apathetic nature and transactions fell to a very small volume Such a result wn was II quite naturally brought hl about b by the uncertainty uncertainty un un- un I certainty pertaining t to monetary condi condl The rank and file me of the speculative speculative community decided a a. neutral position position position tion In the stock market was for tor the time being the widest course courso and consequently consequently conse conse- a state tate of Inactivity prevailed d The prices sagged off orf during the first half haIr of or the s session but there was nas little pre pressure ure from liquidation The majority of or the list ua viliS p fractional changes though Union Pacific and ReadIng Reading Read Read- Ing showed lo losses ses extending to slightly over a point Republic Iron and Steel common was the only stock that showed pronounced d strength and that recorded a maximum gain aln of two per cent Rank Baal Statement Hud Bucl An unfavorable bank statement was regarded regarded re reo re- re as aR a foregone conclusion but the actual figures revealed a condition ap ap- apparently parenti much worse than existed and was quite without any redeeming tlde fea fea- fea- fea tures A loss In cash of or over was dl disclosed ose and a a. deficit of 6 iv- iv This fact ho however ever appeared to excite little concern on the part of or the speculative In fact tact following the publication of oC the statement the the- stock market experienced n a considerable recovery Union Pacific and Reading advancing advancing ad ad- a full point from the low Jow li level leel vel while other stocks ro rose e fractionally Wall Wallstreet street treet argued that the exhibit made by clearing house Institutions was perhaps perhaps perhaps per per- haps not an unmitigated evil as it would furnish a strong object ct lesson to demonstrate demonstrate demon demon- strate the necessity of or treasury interest to the situation and rumors became became be be- came como per persistent that Secretary Shaw j would make some announcement nt regardIng regarding regard regard- In Ing the matter not later than Monday The Tho market closed steady Government bonds were unchanged ed Railroad and other bonds were lower t Money l Rates Kates Overshadow O New York Dec 8 The S.-The The Wall Wan street com corn may be said to have e excluded more sharply thin than ever eyer this week all other ns but those of mone money rates and the Immediate future of banking conditions Rates for tor the use of funds both hoth on call can And time have tI tightened still further her the extreme tJ figure ure of or 36 per percent percent percent cent being paid by borrowers yesterday on the stock tock exchange while In the form of oC extra commissions and premiums as much as ten pe per f cent has been exacted for thirty and sixty day loans where the collateral offered was not the most de de- Transfers of currency through the treasury sub ur have been vcr very heavy both the amounts to New Orleans to meet expenses es of or tho the cotton moving and to toPan toan San Pan an Francisco where the tho gathering of or orthe the tho fruit crop always occasions at this time ime an nn exceptional need of or read ready cash t U the same flame time exchange on New York it at Chicago and other western cities a fortnight ago had risen to a l. premium pre pre- I seemingly s Indicated a n. final turn In n the interior money mane market markel has hns dropped again to a n. discount suggesting that we cannot annot count yet ot awhile on any continuous ous Lid uld from tram the operator Another factor factor fac fac- tor or that has been operating against l bank re reserves i Is of course the tho heavy excess of or the collections on the governments government's revenue evenue This however howo will be neutralized neutralized neutral neutral- b by the treasury's relief or order er this week But Dut so 50 far aa as the practical effect of this interest anticipation Is ts concerned the benefit will be he small The questions that lint arc are being asked most anxiously In InWall Wall ValI street streel at the nose of the week are arc what will happen If the treasury treasur does not come more effectively to the rescue and whether or not a return to anything like easy money conditions Is probable for an Indefinite time ahead Stocks Stacks Sto ls Bear Benl Up Well ell The stock market has borne up again remarkably well under the strain of these conditions It has emphasized all aU that has been said In the past about the highly highly high high- I ly concentrated character of or security holdings about the entire re aj absence of u a l speculative public which could be frightened into selling by the excessive money mon rates and about the confidence confidence- which th the larger larer stock owning interests feel toward the future Events that ordinarily ordinarily or or- might be expected to affect the market have barely caused a stir The market is completely overshadowed b by the mane money question and its immedi Immedi- immediate ate future depend on the settlement of or orthis this and nothing else Those who ho ho take lake their stand against a further lurther advance In prices s contend that mane money rates will hadon hold had hOl hOlon holdon on a hl high h level le for an indefinite time to come and the rise In mone money is an offset so far as market pricey prices are concerned to an any raulin raising raining of dividends euer eier past or I future On the oth r hand the other anti and It would seem the majority view is 18 that the customary relaxation In the money market after the first of the year eal will take place as usual that It may ma not carry rates down as low as formerly but that It will bring about a sufficient decline de de- decline e. e cline to make the present prent security level le seem low rather mUter than high l' l of Price Today's stock prices r Amal Copper 1111 1136 H 1134 Am A.m. locomotive t 71 7 74 74 73 73 Mn Am Smelting 1521 Am Ain Sugar Ana Mining 2 20 2534 n Atchison I i 1031 do preferred r IO 1021 Bait and Ohio Ile i 1 Brook Rap Hap Tran Imn 79 79 79 3 70 79 l 79 Canadian Pacific 1934 H 1 1921 92 If C. C M. M and St St. P I ism I Colo oJo R I and Iron i 67 57 57 57 57 i Colo Cabo and South 37 37 j i 37 r. Erie Krie 1514 I 45 41 44 Dela and und Hudson Non 2 2 J i General Electric 1621 A 12 Gr Or North pre prof Louis Loul and Nash ash ln i w 1461 1155 l 1451 38 Mexican Central 20 fG G 2614 26 G 2 2614 3 5 Mexican Nat at 69 59 59 55 JM J rs M t I K i. and T Tex x n 11 41 oil 41 11 do preferred 72 72 7 72 72 72 Missouri Pacific 94 91 91 93 J 93 N. N Y 1 Central Contral 1343 1334 Northern Pacific IH l 21 Pacific Mali Mail IK 12 1 Pennsylvania anla R Ry fly 11 I 13 lh Reading uS 1471 1474 1471 t HS Rock Island 31 31 Southern Pacific Pacifico 93 33 93 93 Southern 31 34 4 31 3 do preferred 94 H 91 94 9 94 Union Ion ISO ISO l lD U U. S Steel IS 18 45 43 fm 48 i f do preferred 1014 I |