Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-10
THE LONDON MARKET
MONEY ABUNDANT AND CHEAP
THE PAST WEEK.
Special eablesram to The star.

Special Gablegram to The Star.
LONDON. December 9.-Money has been
abundant and cheap this week and but for
the growing Intensity of the Russian crisis
there undoubtedly would have been a dis
tinct and important improvement in the
STOCK markets. The apprehension of panics
on the continental bourses has induced
great caution on the part of dealers here
II Is believed the Paris boursa was very
near debacle last Monday and only es-
capped 1t through M. Rouvier.s declaration
that Russian money was on deposit with
the various foreign firms sufficient to pay
the interest on the Russian bonds for
long time ahead
London hnanciers say that il a serious
pane actually does sweep over the CONT
nent as result of the conditions in RUS,
sla all the stock markets of the world will
nave TO undergo violent vicissitudes. 1t
seems probable that the present attitude
OF investors and specuIators will be ad-
hered to so long the situation in the
RUSSIAN empire continues to be fraught
world
The most pronounced buying this week
mas been in the giIt-edged department.
mere shas been considerable continental.
ueinand Tor eonsois based on the convic-
tlon that there is no security in the union
market SO safe to hold in troublous times
Out consols have not risen much during the
week, their advance being under half
point. They might have done better but
for the-iew issue OF 8 per cents by the Lon
don county council.
Forelgn government securities have felt
the influence of the Russian troubles and
nave been duh and weak, most of them
recording losses. British rails with but
lew exceptions. are lower 1t is said the dis
astrous accident at Charng Cross had an
nnfaForabie effect on the stocks of all Ines
as Wen as on those of the company respon-
sible for damages
1t seems more than probable that the
lower prices were the outsrowth of nervous
ness. RUSSIAN and American rails have
Done fairly well and close firm with good
many of the stocks considera bly higher
than last week. Mines have been dull all
the week.
Volume of Business Increased.
By Associated Press
LoNDoN, December 9.--The volume of
business Increased on the stock excbang>
during the week by reason of cheap money
and despite the fact that the Russian news
created uneasiness on the conttnentah
bourses, the prices of British funds furtbery
improved Russian bonds early In the week
We're unstable. NomfnaIly they were
quoted at 771k, but with Paris buying since
sharp fluctuations occurred and they fin
ished firm at s2A.
Much nervousness was apparent here and
on the continent as to Russian credit
which caused selling In certain SECTIONS of
the International market In which Paris
is largely interested. But with Premier
Rouvier's and other reassuring statements
regarding the Russian governments ability
10 pay the interest on its securities aIiayed
much of the anxiety and arrested the de-
cline prices closing above the worst quo
tations.
The tendency at the close on Saturday
was distinctly cheerful. The eheapness of
money helped the situation materially con-
soils particularly feeling the effects of lib
eral investment purchases, while Their
British funds together with home rails and
certain industrials hardened considerably.
BUSINESS, however, was checked at the
week end by the political situation and the
approach of the settlement
Americans, after early weakness inn
proved smartly. The markets on both sides
of the Atlantic being pleased with Prest-
dent Rooseveits message to Congress, they
supported their fayoriteS and prices i'm
proved all round till the dear money an
prehenSion appeared, when some of the
Improvement was lost through the final QUO
stations of active issues showed gains of
from one to three dollars. Nitrate shares
were depressed on the reported breakdown
of the negotiations of the combine to re-
strict the output.
The money conditions, ar every easy at
present owing 10 the payment or excheQuer
bonds, but it Is considered in some quar-
ters that money will become dearer In the
near future in view of the stringeney I'm
New York and the paucity Of supplies In
Berlin, where the position of the Imperial
Bank is weak and a further advance OF the
discount rate Is talked of.
Although the Bank of England obtained
bar gold this week 1t was only by paying a,
high price because the weakness Of dis
counts and the fall In Paris exchange
brought strong demand lor gold from
France.