Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-15
WITH THOSE OF LAST YEAR

Special Dispatch to The Star
NEW YORK, February 15-Money on
ralI and for all time periods advanced early
today to 511 per cent. and 1t was upon TINS
phase of the situation at large that In
terests gradually converged. SO far as 1t
was possible to assign any specific reason
for the dull and sagging tendency OF the
stock market the monetary outlook might
be specified in connection herewith
Prevailing conditions of course stand out
IN sharp contrast with those which were
noted at the corresponding period OF iass
year when loans on time IN the race "a
heavy gold export movement then under
way, could be readily obtained at ana unaet
r per cent The sterling exchange market
continued rather heavy, but MADE no lur
ther decline, and little alteration appeared
In the rates of exchange on New YORK a'
Interior points. 49,, A..
At the same time it is understood ina.
some large time loans have within the past
dav or two been made in this market for
the account OF out-of-town banks. and 1t is
TO be hoped that this process will serve 10
prevent any further expansion In the loan
item of the local clearing house banks
The Bank of England made no change IN
its rate of discount today, and its weekly
statement was a somewhat negative sho"
Ing Money was reported in strong dehiaho
IN the London market. Price changes Oh
fhe london stock exchange were generally
toward lower levels. mainly because OF
quite heavy selling for Paris account. al
though little definite news was divulged re-
specting the progress OF the Moroccan con
ference. Operations here FOR Foreign ac
count had trifling net results.
Next to money market affairs, dlscus-
sion was mainly occupied with the proodpie
outcome of the conference between the
managers of the anthracite coal companies
and the committee representing the Unlteo
Mine Workers of America. In this regard
also operators in stocks were forced TO
proceed more or less In the dark. although
* was noted that price movements IN the
stocks particularly concerned were pretty
much In line with those in the general
market.
Reading Fluctuated.
Reading in particular fiuctuated widely
and rapidly. but In common with the mar
ket at large, the anthracite and bituminous
GOAL stocks took on somewhat frmer
hone in the afternoon dealings. Baltimore
hnd Ohio enjoyed an especially extensive
recovery. The days routine developments
comprised a number of dividend announce
Snents. including that upon Standard OIL
new issues of securities by various COM
panies, and several important and for the
most part gratifying statements of earn
angs \ somewhat disappointing report
npon the condition of the winter wheat crop
was made in the weekly issue OF a credited
trade journal, but movements in the COM
modify markets were not extensive.
Lower prices were the common rule at
The opening Of business, and subsequent
movements were irregular that II 1t were
attempted to assign any stated tendency
TO the stock market it would have to be
made with strict regard TO some par
ticular moment Of the business session.
The dealings attained fairly large total.
guinness from time to time during the bust
hess session.