The Washington herald., 1907-12-25
WALL STREET NOTES
Christmas Festivities Aban.
dOned This Year.
FLOOR ATTENDANCE SMALL
Depressing Influences Numerous and
Little Interest shown in Prices.
Renewals of CaI Loans Are Ar
ranged at 20 Per Cent, an Advance
OF POints-GOssip and Comment.

New York, Dec 24-Such a dreary,
monotoaous affair as passed upon the
floor Of the stock exchange to-day could
hardly De called a market
For minutes at a time there was not a
single transaction OF any kind. and it is
doubtful if during the entire session there
was one that had any real significance.
Stocks were inert and the traders
apathetic. There was nothing doing and
nobody seemed inclined 60 do anything.
The attendance on rthe floor was very
small. and hardly one of those present
was disposed 10 take a position over the
holiday. The feelings of many traders
was expressed by one who wished him
self IN Hoboken, because" as he said,
If were there I could not be here"
Had the traders been allowed 10 indulge
in their usual Christmas celebration it
might with many Of them have counter
acted the depressing influence Of the lack
Of real business. but as it was. several,
after hanging around for an hour or so.
went away from a place that afforded
them neither profit nor pleasure The
Christmas celebration was a time-honored
observance on the New York Stock Ex-
change, and in prosperous years brokers
practically suspended business 20 indulge
in pranks, even when their time migh, be
very prohtably employed in trading Age
and business were alike forgotten and
everything gave way 70 fun and music.
The fact that this did not occur on the
present occasion has been construed by
many people in Wall street as the greatest
illustration OF poverty the traders have
ever made, although it really mcerS moth
ing more than that among the few
brokers In attendance, none seemed ready
TO take the initiative In raising funds to
pay for band and make other prepara-
tions for the usual festivities.
Renewals of call loans were arranged
at = per cent as compared with p pei
cent on the preceding day, but the rate
afterwards eased Off on the almCst tota
absence Of demand in a market that haC
practically ceased 10 exist. The premium
on currency was not quite as nigh as or
Monday hut il was still high enough "a
form the subject OF considerable I'm
favorable comment
The first stock to display real weakness
was General Electric. but the selling OF
I this did not look at all formidable. The
reason for the decline was found in tho
rumor current on Monday that one OF
the trunk lines owed the company up
wards OF S20OloO0l for equipment fur
nished. but was very slow in making
payment.
/ This was an old story. revived and re-
vamped, but Notwithstanding it has beer
denied II seemed 10 the bears % be q
sufficiently good preteXt for selling th'
stock, bat the ordinary outsider coUlJ
/ see no evidence of liquidation or an in
crease ir the floating supply from whici
the shorts must eventually cover.
/ London did practically nothing in oul
market. and as not only to-day. bu
/ Thursday is a holiday over there. ther,
can be very little foreign interest mani
/ Tested in American stocks before Friday
/ II is possible, however. that on the re
/ opening Of business in the British me
/ tropOhs there VIII be quite a littis buy
/ ing, as stocks bought then viii not hav
/ 10 be paid FOR until the middle Of Jan
! uary. when the Improvement in money
! conditions here may have lifted price
/ appreciably above their present level.