Show POSITION THE DOMINANT POWER Now York Nov mono money po position was the tho d dominant Influence In inthe the tho stock speculation again and the tho topic or of principal Interest The reten retention tion of tho S fi per cent Bank of Eng England land rate rale was accepted with satisfaction tion but tIme tho feeling of certainty yes yesterday Ulal this course would ho fol followed lowed had limmi allowed action to lo antici lato It Time Tho Influence on the tho prices of stocks therefore was wag sImon lived There Thore were fresh withdrawals of oC gold fot fOI America and a violent drop of two centimes in time thc sterling exchange rate rale at Paris Indicated tho ho waning power or of ono one In time tho This sign of oC the tho nar narrowing narrowing rowing of the point of to time the Paris money market ad added ed to tIme the ef eC feet of oC time the mono situation In Now York tH as depriving the contingent of hopes or of recourse to other sources to replace time the credits which are arc being withdrawn front from Now New NewYork York The weeks export of oC Sold gold from Now New York helped deplete the slender surplus reserve of the clearing house hanks banks to a point which is forcing them to their loan bait account In an at attempt tempt to lo avoid the tho exhibit of a deficit In the tho weekly b bank statement publish published od ed on While time the money rate began to rise In Now New York in response to the first demands of time the Interior for ing currency Interior hanks made loans in Now New York on a large Jarge scale on their own account to take athan adan tage of time the highet Interest rate rale Time The effect or of this was to relieve time re requirement upon the New Nem York banks and to form fonn a large factor In the tho enor enormous enormous loan contraction effected In New NewYork NewYork York during that period Time The halt in speculative activity and the dribbling or of liquidation such ns as canto camo Into the stock today teem Seem nn an inevitable consequence ot of these conditions Time The reception ten tendered to New NewYork NewYork York stock stoel Issues sufficiently proves the distaste of oC the investment appetIte appetito for these offerings Rumors or of un an earl early offering of St Sl Paul bonds gained credence front from time the application cation or of the company to time the stock ex cx exchange change to add to lo the list from time timeto to lo time but prior to I 1 1910 22 additional of those bonds bondson on official notice nollee of sale besides the tho of time tho total Is Issue issue sue already sold Time special |