Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-17
THE LONDON MARKET
LACK OF DEMAND AND MONEY
OUTLOOK AFFECTED PRICES.


LONDON. December 16.-There has been
little doing in the stock markets this week,
the usual Christmas holiday dulness hav-
ing set in somewhat prematurely. The
tone of the markets has not been extraor-
dinarilv bad. but the lack of demand and
some degree of uncertainty as to the money
outlook and the continued depressing infu-
ence of the Russian situation have affected
prices unfavorably On most departments.
The quotations ran along without much
variation except in the American depart
ment from the beginning of the week until
Thursday when the bank began to take
money off the market to such an extent
that borrowers were forced to resort to
that institution for accommodation and
pay 3 per cent for that accommodation,
on 1 per cent above the official rate.
It Is held that the bank was quite justi-
fled in its course in view Of the large de-
mand for gold from abroad and the unset
tied condition of the foreign markets. es-
pecially that of Germany. The expectation
Is that there is more or less stringency In
the money market for the balance of this
year and during the early days of 1906.
Closed Under Last Weeks Figures.
All the gilt-edged stocks close this week
under last weeks figures, consols being
again under 50 and all other home and
colonial government securities from eighths
to three-quarters down.
With three or four unimportant excep-
tons the foreign government securities have
declined. but not heavily, the lull in receipt
of the exciting and disquieting news from
Russia has not been without its good ef
feet on the prices of all foreigners. Brit
ish rails have been extremely dull notwith-
standing the traffic returns being quite sat-
Is factory.
1t is said fears that there may be more
collapses like that Of Charing Cross roof
have turned some people from investment
and speculation in home railway stocks
London has followed New York in respect
to American rails and almost all stock
quoted on this market has made important
gains this week, though the dealings have
not been heavy. In the shining groups pre-
mier diamonds sold down and gold shares
have been fairly firm. There have been
wide fluctuations in Geduld shares.
Only a Moderately Active Week.
By Associated Press
LONDON. December 16.-The stock ex-
change had a moderate active week, bust
ness being characterized by desrer money
and the dullness of continental bourses.
Last weeks quotations were barely main
tanned After the conclusion of the settle
ment operators did not appear inclined to
transact for new account owing to the ap-
terrent appeared in the shape of dear money
and the scramble for gold for Berlin, Paris
and Argentina. This came in the nature
of a surprise to majority Of the operators,
and the consequent selling caused first-class
stocks to close lower on the week.
The feature of the foreign market was
the strength of Central American securi-
ties, which were bought principally by Am
sterdam. Paris specialties sagged through
out the week. considerable uneaSiness pre-
vaiiing in that quarter over Russian affairs
and political questions with Germany. To-
day this section of the market closed heavy
and with much nervousness apparent con-
corning Premier Rou0iers statement on
Morocco. which he had promised to make
at the close of the days session of the
chamber of deputies and in which 1t was
expected he would touch upon Russian
finances
American stocks started the week well
with Union Pacific and Southern Pacific the
features. The usual tactics adopted by
Wall street of hosting certain shares to
realize in another direction caused wide and
erratic fluctuations; but the bulls generally
had the upper hand and final rates were
slightly dearer. Union Pacific exceptionally
So being IS higher. Coal shares received
much attention and Anaconda, among the
copper stocks, continued in upward d.
rection.
Money. because of the ease during ths
week. became suddenly dull, owing to the
withdrawal of loans for South America and
the petition for bar gold for French and
German accoant The Bank Of England
promptly took steps to obtain control of
the market and protect Its reserve by Dor
rowing floating supplies on credit. and II Is
hoped that the demands for gold for Eu-
! rope will be satisfied from the open mar