Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-15
Today's Money Market Was
Sufficiently Active.
GAIN FOR BANKS SHOWN
HIGH RATES HAVE ATTRACTED
FUNDS FROM OTHER POINTS.
Stock Prices Opened Almost Uniformly
Lower Than Yesterday-London
Heavy-Substantial Advances.

Special Dispatch TO The Star.
NEW YORK, December 15.-Today's
money market was sufficiently active as TO
lend special interest to the probabilities or
tomorrows bank statement. The prelimi-
nary estimates of the principal movements
in currency during the week indicated that
the banks had gained substantially in con-
sequence. today's figures pointing to fav-
orable balance of $3,2O0,0oo
This in addition TO local cash resources,
was all tho more striking inasmuch as the
banks lost In their operations with the sub
treasury nearly 81. 10000. 1t is plain that
tho high rates which have prevailed In the
LOCAL money market have served and are
serving their usual influence In attracting
funds from other points, irrespective of the
particular strains which have been imposed
upon New York capital
The sterling exchange market was
shade. but not Significantly easier. The
usual monthly report of the Department of
Commerce and Labor upon the country
foreign trade showed that In November our
imports were s., oJO000 larger than in the
corresponding month of last year, while
our exports were Sl2,W0,o0n greater than
they were then.
The Trade Balances.
Until there is some betterment in politi-
not probable, however, that favorable trade
balances will cut much figure in the for
eign exchanges AS has been the case for
several weeks past. the mornings news
and the days developments seemed to have
little influence upon the dealings in the
stock market
Prices opened almost uniformly lower
than yesterdays final figures, after which,
despite some irregularity of movement, e.
raDylug tendency was observed.
The tone at the opening seemed to be
mainly a continuation of that which pre-
vailed at the close OF business yesterday,
and was sufficiently accounted for by the
usual week -end closing out of contracts, the
hardening in money rates and misgivings
with regard to the character of the bank
statement. The London stock market was
generally heavy, although price changes
Were rather small.
Misgivings Over Russia.
Its tone seemed 10 be mainly caused by
renewed misgiyings as to the out-turn of
Russian affairs, and these were emphasized
by the selling conducted for continental &C
count Operations here by the arbtrage
houses resulted on balance In the sale OF
not much more than coco shares The
initial depression In prices was not long
ma Htained a general rally ensuing, but at
the best the tone of the days dealings could
not be any more closely defined than as If
regular .
a number of substantial net advances
were shown in many stocks and quite sharp
losses in others. The local traction stocks
were notably strong. but such rumors as
accompanied the movement in that quarter
We're not particularly convincing.
The Railway List.
The United States Steel shares contin-
ned comparatively sluggish. Irregular
and comparatively small changes result
ed from the dealings IN the railway list.
Union Pacific was about the most active
stock in that department, as in the mar
ket at large.
The Southern Pacific report for the
ended fiscal year was issued this morn
Ing, and while 1t was entirely satisfactory
from any reasonable point of view, its
reception was somewhat modified by some
by observations included in the text of the
statement
Rock Island securities. together with ST.
Louis and San Francisco, were again
notably weak. and explanatory but hard
ly satisfactory unofficial assertions were
forthcoming with regard to the action
taken on the dividend on the Underlying
Railway Company.