New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
FINANCIAL MARKETS
Money Rates Unchanged and
sterIlnu Quotations Lower.

Transactions in stocks were light III
volume and made up almost entirely Oh
+ba onerations of an unimportant pro-
ea-SioraI element. Price movements
were confined within narrow limits Win
insignificant net gains in the larger NUM-
her of issues at the close, even liis
shares in which a relative degree OF &C
tivitv was reported showing, as d ruie'
only fractional net and maxim liIll
changes. a certain amount OF slrehglh
was reported in the early dealings es-
r,acia1l1- in the Observation-Disclosures
tan shares and American SmeItlns ana
Refining. but efforts 10 advance the gen
,r-al list met with no response from COM
mission house interests, while they Ialleo
- encourage the expectation Of sub
srantial advance in the immediate tut
IRE From the pessimlsuc IDEAS re-
eardine the country's business IN ISL
as set forth in interviews with certain
prominent men who apparently are not
onDosed 10 lower quotations in the stock
market il might be assumed that Sc
clIriries representing our leading railway
and industrial concerns are slowly but
surely moving TO the list of obsolete in
vrsrments. but ii is worth noting that on
declines resulting from bearish state
rnents buying is reported by leading
banking houses for the account OF lead
ing banking interests. While there was
an entire lack Of selling pressure IN yes
terday's trading there was no evidence
Of aggressive buying, and in the last
hour price fluctuations We're TOO small 10
afford even a fair opportunity for
scalper's turn. More than three-quar-
tiers Of the total business was supplied
by Reading. Union Pacific and United
States Steel. the last named leading in
point OF activity. Money rates were I'M
changed and sterling exchange declined
10 points from Saturdays closing.
The national banks in the United
States. according 10 the compilation
made by the Controller OF the Currency
from reports showing conditions as Of
Novem Der 10. hold a total reserve OF 81
::6l4 611 .:i26 an average Of 21-1S per cent
or SO. 992 $50 in excess of the amount
required TO be held. The Eastern States
show 2 net loss in loans and discounts
N.6N
SURVIVING a contraction in loans of more
than SfT. 100000 as compared with the
same time last year. against q net in
crease in loans Of all national banks in
the country OF almost S4oO,sp,0eo. All
reserve cities present falling off in
the percentage Of reserve 10 deposits on
November 10. as compared with the call
Of 11,a-- I n1rr
this condition should be corrected in the
course Of the next few months by the
usual return movement Of money 10 re
serve centres. such as New York, Chi
cage, St. Louis and Boston Taken as
d whole. the Controllers statement
makes a fair exhibit Of bank conditions
in this country, but when carefully ana
lived il viii be found that loan accounts
in the West are still heavily extended.
The local bank statement issued Satur-
DAY made an Unfavora bile showing, with
reserve above legal requirements down
To S5.04S 800 but the Street appeared 70
believe that IN the rest Of the year i'm
provement would be reported. in spite
Of the fact that on their operations with
the SUb-Treasury the Clearing House
institutions have lost more than 81
100. 600 since Friday night The amount
Of money il circulation in the country
increased in November Sl253o. SIC, and
compared with December 1. 1909, the
total circulation showed q gain Of Sol
2o4. $50, against a gain in national bank
loans in practically tho same time of
about S4G0.000g00.