Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-01-07
HEARD ON CHANGE

The opening week of the new year has
not brought any marked change in the
market conditions. There is nothing magical
III substituting one figure for another in the
date of letter heads. and so the current OF
business flows on about the same in these
first days of the new year as 1t did in the
last days OF the preceding year
1t is not expected, however, that the pres
ent conditions will continue indefinitely. In
fact, there is much confidence that the sup
ply OF money will be increased, that loans
will be easier and. In consequence. business
VIII be briSker. This is the view to some ex-
tent of the broker. The banker who makes
money when loans plentiful and when
he has the money to parcel out, IS also
mindful that this money belongs to deposi-
tors and that he must have 1t when Gale
fer and so he does not favor conditions
which become too largely speculative ana
open to danger.
1t is evident that in New York the bank
ers to borrow a phrase from the political
world, continue to sit on the lid. with the
idea of REFRESHING speculation and Keeping
il within what they consider proper bounds.
1t Is reported that the tendencies toward
enlarged operations in the stock market
are very pronounced, and II Is said tnat
those who have money to lend are advising
conservative methods and careful buying
In cases where this advice is not needed,
as generally 1t is not, then they hold up the
money supplies and the daily business or
the stock exchange dwindles in proportiohs.
To some extent this Is the situation mere,
and while there has been no recent change
in the rate of interest which Is stiii oHt-
cially per cent. still it is not uncommon
to be asked q per cent and some OK tne
banks are getting that rate or else not
loanfng the money.
In the event these restrictions on bust
ness should be removed 1t is probable that
the renewed activity would be along the
same lines that 1t has followed for some
time past, namely, trading in the Washing
ply of stock In other sections of the list is
not at all large, and in consequence of
that fact there is a general belief That the
scope of the activity on the exchange ought
to be enlarged.
How that is to be done is a question. If
past experience Is any guide. 1t can not be
accomplished altogether by adding securi-
ties to the list. for 1t may happen again as
1t has already, that people may refuse to
trade in the new applicants for their bust
ness A mere addition is not going to do it,
until some method has been adopted arous-
ing the interest customers take In the gen
eral local market, instead of its being con-
fined at present to a few specialties.
An enlarged scope for business may be
brought about by an increase in the amount
of the securities of some of those already
on the list, and which have already secured
the attention and favor of local investors
and spectators. According to the current
ideas on this subject, this Is not al all un-
likely in the near future, but exactly how
near is one of those things which must per-
force be left to the judgment Of those who
are in control of the companies that are to
undergo the process of expansion.
The same conclusion may also be reached
in regard to what securities and the extent.
although there are number who would be
perfectly willing to give their time to work.
ing out some plan, proving only that
could hasten the event.