Show WALL STREET NEWS new boik dec 21 mopes conditions guided stock maket ini to narrow and sluggish channels op orations were relatively small and less than for some days past being largely of a professional character the rate for call money advanced to almost the highest level ot the week during the early session the result of a sudden calling of loans by local financial institutions the banks while apparently ahead in their weekly operations erat ions with the sub treasury are known to have transferred about 4 by direct shipment to chicago where cash has been in urgent demand to meet the situation created by the failure of the waka banks and trust companies this together with tho shipment through the to the same center threatened another impairment of the legal reserves of the banke monetary conditions abroad were hardly more encouraging cou raging than at home the bank of glands En weekly statement showed a decrease of almost in total reserves thereby reducing its proportion of reserves to liabilities to a level much below the corresponding week of the previous year A number of short accounts in amei leans were closed in london and operators hero for that market were small in volume sales on balance amounting to scarcely more than shares intimations of a much higher money rate during the final week of the year were given out in responsible quarters the local market was firm and active at the outset and some of the previous days losses were soon ered the greater part of tho early trading came from western commission houses which were openly bullish on new york central st aul and reading these issues together with pennsylvania amalgamated copper smelling smelting sm elting sugar and the the trac tilon stocks were the chief features of strength throughout tatt day particularly metropolitan street railway union pacific the recent leader of the bull market movement was beavy as were also the hill issues tennessee coal and iron national lead and colorado fuel lesa was heard about developments in union pacific but it was learned that the controlling interests in the property had expressed themselves as not altogether in accord with the recent upward movement the rise in the tr actions was productive of much gossip dealing with the future of those properties and a great deal of tho buying was traced to sources having pronounced political affiliations the company figured in the daya talk of a deal in trac eions the weakened with the early advance of call money to 15 percent from which rate it soon tell to 10 percent after alternate spurts of weakness and strength the market drifted along in characteristic holiday fashion in the final hour however with money once more at 15 percent the market gathered increased strength under the lead of metropolitan street railway which advanced more than five points and tho closing was active and generally firm the most notable exception being american hide and leather which fell over five points the decline wag accomplished by rumors of a hitch in the reported merger negotiation with one of the larger kindled companies bonds were easier total sales par value united states bonds were all unchanged on call eczema scald head hives t of the skin of any sort instantly relieved permanently cured doans ointment at any drugstore |