The Washington herald., 1907-12-15
LITTLETRADING DONE
Smallest Volume of Business
Seen for Many Weeks.
BANK STATEMENT EXCELLENT
Passenger Revenues of Railroads in
Missouri show Falling on, Owing
Lnw-MOney Returning 10 Finan-
ciaI Centers After Being Hoarded.

New York. Dec. 1.-THE smallest days
business in any Saturday for many weeks
past was transacted on the stock ex-
change to-day. and the movements in the
security market were altogether trifing
in description. In general the market
displayed the same tendencies toward
heaviness that it has throughout the
week.
But spectators who sold stocks IN the
first hour of the session bought them
back IN the last hour so that fuctuation
in prices were minute. Indeed many OF
the most active stocks closed at the same
quotations as those Of yesterday.
If the market possessed any feature at
all it was that OF continued pressure in
the New York Central and American
Sugar Refining shares, but the dealings
in these stocks were not upon any great
scale. Some attention was attracted by
the publication of seemingly authentic
compilations showing that the passenger
revenues Of the railroads in the State of
Missouri had decreased S60,O0O0 600 since the
2-cent fare law went into operation on
June II, and from this a species of
melancholy graduation was derived in
the presumption that such proof OF harm
might be utilized 20 advantage in the
holdings Of the Federal court that will
soon take place upon the question Of the
confscatory and unusual character Of the
state legislation in question
Bank Statement Good.
Assistance from the only important
news OF the day was the weekly bank
statement. and it is not unlikely that if
these statistics had been available in the
the financial district during these hours
they would have altered the complexion
OF the days market
While it was realized yesterday that
owing to the innumerable complications
now existing there could be no assurance
as 10 the sort OF bank exhibit that
would to-day be made, the general i'm
preston was that the situation would be
Unfavoruble. inasmuch as il was known
that the banks had been called upon
during the week 70 make heavy payments
70 the government on their own account
ana that of country banks on subscrip-
IONS TO the Panama Canal bonds and
certificates OF Indebtedness.
The bank statement therefore. WAS
sunni" LAT III ttic nature OF a. pleasant sur
prise. The banks gained over a.00O.O00 in
cash. and as they managed to reduce
their loan account by Sll.3c0.OC0. the de-
hcit in the surplus reserve decreased
$4,000. standing now az only "a little
over S40O9C.0Go
Honrded Money Returns.
What appeared 20 DE evident from the
return was that the boarded money in
the interior Of the country is returning
to financial cente-s. and what is prac-
tically the same thing. that these insti-
tudons are beginning 20 renew the loans
in this city that they hastily called sew
eral weeks ago.
There is. however. general appreciation
OF the fact that this process Of "a return
10 normal conditions viii be moderately
slow, and that il is hampered at the mo-
ment by the fact that the end Of the
year with It's necessity for financial set
Elements and balancing is near at hand.