Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-29
Quieting Down Marked Spec
ulation Today.
A Primer TONE NOTED
SOME WIDE AND UNCERTAIN
SWINGS IN PRICES.
Extensive Advances in Rates for
Money Followed Improved Cond1-
tions-Loan Expansion Expected.

Special Dispatch to The Star.
NEW YORK, November ga highly de-
sirable quieting down in the speculation III
stocks today was accompanied with the
course of the morning by the appearance OF
irmer and more conservative tendencies
than the market has displayed at any time
during the week In the early part of the
business session there was very Htte
change in trading circumstances from those
which have been observed for more than a
fortnight.
There took place at the time wide and un-
certain swings in prices, for no specihc
reasons that were apparent, but SUISSE
quently a steadier tone appeared 1t was
regarded as somewhat significant that she
Improvement in market conditions was ac-
companied by a quick and extensive adj
vance in the rates for loans on call.
= Opening at per cent, rates soon toucneo
figures double the minimum rates queteo
Yesterday. The slight disturbance In the
money market was sufficiently explained py
the fact that this is the last business DAY
of the month. and, besides which, on ac-
count of the weeks heavy transfer or cur
rency to the far west, the banks reported
loss in their operations with the subtreasury
up to this morning amounting to nearly
s., 500,G 90.
1t would be quite useless to speculate with
regard to the changes that may be SHOWN III
the loan account in this weeks BANK state
ment but an idea prevails in some Well-in-
formed quarters that it Is likely TO snow
very considerable expansion
Sterling Exchange Steady.
Sterling exchange was steady today. but
authorities in that market expressed the
opinion that a sufficient change had taken
place in international monetary affairs as
to permit Of considerable importations of
ha n +
money furry of this month in December.
Apprehens.ons that money market condi-
lions approximating those prevailing two
and three weeks ago might be again wit
messed before Christmas have been quite
&C mmonfy expressed of late, and appear TO
have been a factor of influence in the recent
irregularity of the stock market and also
in the early part of today's dealings.
In addition the close approach of the meet
Ing of Congress, with the subsequent publ
cation of the Presidents message, was re-
ferred to as good reason for proceeding
slowly in assuming new commitments. and
as warranting generally cautious attitude
in the speculation.
Sharp Rise in Wheat.
After an early sharp rise in wheat the
commodity markets fluctuated irregularly,
and there Were few developments of general
Importance during the business session
apart from the hardening In money rates.
This mornings announcement respecting
the conclusion in the st. Paul manage
ment, to extend that companys lines to the
Pacific coast, was received with great in
terest, as disposins definitely OF long
mooted proposition, but it seemed to have
no considerable influence on the dealings In
st. Paul or In other stocks more or less
concerned with this development in the rail-
way field.
The regular dividends were declared on
the Chicago and Northwestern stocks, and
it was announced that the Lackawanna
stockholders are to receive an extra dvi-
dend of 10 per cent on December 16 N ad-
dition to the handsome regular quarterly
distribution of profits by this company.