Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-16
Today's Trading Was in q
Very Light Volume.
MONETARY SITUATION
PAYMENT OF FINAL INSTALL
MENT OF JAPANESE LOAN.
Rates for Money on Call Not Material
ly Affected-Banks Reported
Gain-London Dull.

Special Dispatch to The Star
NEW YORK, October 18.-During the
greater part of the days business session
the trading was in lighter volume than IL
has been on a full business day for long
time. The dealings continued to be held
In check. mainly on account OF the general
concern with regard to the outturn or the
monetary situation. and upon the European
stock exchanges apprehensions OF like
character We're similarly effective.
The local monetary situation was addi-
tionally influenced today by the payment OF
the final instalment on the Japanese loan,
but while there was some shifting about Of
standing loans on this account, the rates
for money on call were not materially af-
fected, ruling most OF the time at so to q
per cent.
There were further transfers Of cur
rency in considerable amounts to New
Orleans, and nearly S1,50O,0O0 has now
been sent to that point since Saturday
morning. Exchange on New York at
western points was again more favorable
to this center.
The banks reported gain in their
opinions with the subtreasury since last
Friday Of s914,000 although despite the
interest in the monetary situation IL Is al
together too early in the week to attempt
to forecast Saturdays bank statement.
Sterling exchange advanced very sharply,
apd the Bank of England was reported as
bidder for gold in the open market.
Open-market discount rates also cross
ed the minimum figures set by the bank,
and predictions were current which found
some local acceptance, that the bank
would on Thursday make another ad-
vance in its rate of discount
The London Market.
The London stock market was dull. but
generally heavy, and arbitrage houses
were sellers here upon a small scale.
Their openings were mainly reflected in a
rather extensive decline in Canadian Pa
cific.
The local market opened generally at a
fractionally lower level and fuctuated with
in extremely small limits during the first
hour of business. Thereafter slightly f1rmer
tendencies developed. in which most of the
early declines were recovered or substan-
TALLY reduced.
The Wabash Issues were exceptionally
firm. with quite sharp advance in the de-
benture "B'' bonds, the movement there be-
ing accompanied by a report that as re-
suit of last weeks annual meeting more
liberal treatment would be accorded to the
holders OF that security.
Anthracite Coal Shares.
There were transactions in Delaware,
Lackawanna and Western stock about 10
points above the figures at which sales were
made on Friday. and it Is not improbable
that consideration of the figures at which
this stock was selling were reassuring in
their bearing upon the average level of the
general market. The movement in Lacka-
wanna had. however, very little influence
upon the other anthracite coal shares.
Elsewere in the railway list transactions
were upon a very small scale, and pro-
tracted for the most part unimportant net
results The tndustrials' miscellaneous
stocks and the local traction shares dis
played the same uncertain and negative
tendencies which characterized the railway
list. The United States Steel stocks were,
however. rather exceptionally firm, and
Amalgamated Copper was quite well sup
ported in advance of Thursdays action on
the quarterly dividend. The Republic Iron
and Steel shares were also firm.