The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-12-31
WALL STREET NEWS
Market Loses Early Gains
Before Closing.
STOCKS GENERALLY SLUGGISH
Little Disposition shown TO Move
Dead Center that Has Ruled in
Bond Market Large and Widely
diversified for Investments.

New York, Dec. 30-The stock market
Betrayed little disposition to-day TO move
nom the dead center that has recently
been established. IN the first hour OF
stock exchange business yesterdays
rather sharp advance was continued and
prices generally again rose to the level
ouched on the upward movement which
illuminated about the middle OF the
month.
To-day's rise, however, seemed momen-
karily to exhaust any pressing desire to
cover contracts for the fall, under exist
ing conditions. and. of course. the only
reason that has beeen afforded for such
- retirement of the short interests as has
been noted has been the discovery of
s. the fact that operations of this kind do
not succeed in inducing any real liquida-
ton. In the last hour the market lost
portion of its gain. but the larger
"A number OF stocks still closed at an ad-
vance.
~ Dealings in the bond market we're once
more large and widely diversified, COM
paratively. investment absorption being
81 again manifested Railroad earnings
continued 10 illustrate the tendency to-
!. ward improvement that has lately put in
81 an appearance, and the days most note
- worthy contribution of this character
was the statement of the Rock Island
zS lines for November. with an increase in
a gross Of $3lS,O00 and in net Of $4,000.
81 Railroad Reports Out.
The gross earnings OF the 81. Louis
and san Francisco lines for November
q Increased s9H,600 and their net sls5,0o0.
The Erie's November gross decreased
4 SIS. coo and net $53l. 600 a somewhat bet
liter exhibit was made by the RESIDING,
with a decrease of only $500 IN net for
All companies.
or course, the real attention Of imam
bal concerns all over the world to-day
Fas devoted more To the year-end settle
nent of affairs than TO fluctuations OF
tock market prices. and this was prac-
ically the final day upon which any
borrowing OF money for these purposes
81 Ouid take place There was, as was
Expected, a moderate degree Of calling
of loans by the banks. which. however,
WAS conducted altogether sluggishly. and
he call money rate at one time touched
per cent.
But most OF the loans were made at G
per cent, and time money rates remained
zluite undlsturbed. As a result or this
blight even if temporary suffering in
all money, sterling exchange developed
heaviness and fell about fifteen points
b the lowest level OF the year with
Fhe consequence of renewed talk about
bold imports,
Bankers Are Content.
The strong probability is that, mas
much as gold is not al all urgently de-
sired here by financial institutions. our
Bankers viii be quite content al least
for the time being, to allow other bid
iers 80 get the new gold that is weekly
laid down in London, and therefore,
there is little if any. real expectation
pr gold imports in important sterling eX-
rhaHge circles.
SuIl If the Bank Of England should
shortly reduce its discount rate metal
remittances from London 70 this city
night very well take place, and there
ppoars 10 be a fair chance that a re-
lucuiOn IN the Bank OF England's price
for accommodation will occur in the nrst
ortnight of the new year.
So far as interior movements of money
pre- concerned. the current belief is that
De local banks viii once more make a
r0ng showing tomorrow in the weekly
fsf~st