The Washington herald., 1907-12-25
LITTLETRADING DONE
Volume Is Smallest Of Year
with One Exception.
USUAL MERRYMAKING ABSENT
So Few Traders on the Floor that
Christmas Celebrations Are in
Is Heavy All Day and RecessiOns
Take Place on Small transactions.

New York. Dec. 24-The transactions
in stocks to-day were but $4,000 shares,
the smallest in any full business day
during the year save one. The low rec
ord was made on June q, when but
$4,000 shares were bought and sold; and
save on the occasion named, to-day's
business was the smallest OF any in the
last two-and-a-half years. Inasmuch as
nearly half Of the dealings to-day were
concentrated in the first hour of busi-
ness, the dullness OF the security market
during the remainder Of the day may
be imagined.
The attendance on the floor OF the
stock exchange was the Hghtest seen for
months, and very many OF the most act
i've traders in the market have been alb
sent from business throughout the
present week; nor was il without signif-
icance that the usual formal Christmas
merrymaking OF the stock exchange was
abandoned, although various impromptu
celebrations" went on in the accustomed
fashion
With very few exceptions the tendency
OF the market to-day was downward,
as was the case yesterday. although de-
clines to-day were not as heavy but the
market only sagged moderately under
its own weight, attesting neither press
ing liquidation nor active manipu 1-ive
selling.
Heavy on Small transactions.
More or less attention was attracted.
however. by the fact that the recess
sions that occurred in many stocks We're
large as compared with the volume Of
transactions in the issue Baltimore &
Ohio common stock fell rs points On sales
of but G}5 shares. and Norfolk * West
ern common > points on sales Of SEQ
shares.
Other weak features of the market
We're the Southern Railway New York
Central, General Electric. and American
Locomotive stocks. Talk of business
contraction was responsible for the de-
clines in the two last-named issues.
while the depression IN other quarters
appeared to be as the result of causes
with which Wall street has long been
familiar. More was heard to-day than
h9s been recently about a falling off in
railway and industrial earnings in the
present month
The market Of course derived its cue to-
day, aside from the stagnation caused bv
the utter indispOsition 10 trade on the part
Of the professional speculative element.
from the fact that renewals of call loans
We're made commonly at "a per cent. time
money being stiu quite unObtainable. The
rates for call money thus paid were the
highest Of the day and money loaned IN
the afternoon as low as 6 per cent. but
the borrowing that was negotiated after
the days renewal rate had been fixed was
incOnsideTable.
sterling Exchange Weak
Whether or not in consequence of the
stim money rates, sterling exchange was
again very weak to-day, which, taken in
connection with the unabated premiums
currency led to the belief that gold
import engagements might be decidedly
enlarged in tie near future The demand
Tor currency was not on the other Hand as
vigorous as il recently has been.
Further small bank troubles were re-
ported in various sections Of the country
and there were many indications that the
slackening OF business in the interior was
becoming more Of a forced financial situa-
ton there tnan it has been previously.
In the foreign markets to-day holiday
+"''44NNo was oS pronounced as II was
here, although money rates there fnder.
went the usual hardening incident IN the
season Indications, Il may be said. are
for a better bank statement at the close
of the week than was published last Sat
urday at least I'm so far as the cash hold
ings Of the clearing house institutions are
concerned The banks report this week =
gain Of S1-762,OOO as compared with a loss
for the same period last week of nearly