New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-13
FINANCIAL MARKETS
Banks Call Loans and Demand
Money Advances.

Stock market prices moved in an ir-
regular manner throughout the day on a
light volume of business made UP al
most entirely of the dealings of the pro-
fessionaI element. AS 4 rule traders
were bearish, but they showed no dis
position to make extended commitments
on the short side Of speculation, their
transactions as rule, amounting to
little more than scalping operations.
Commission houses We're not actice-
The larger Wall Street interests are
in favor Of a quiet market at this
particular period, and from what may
be learned in well Informed quarters no
epcoura cement VIII be given to attempts
to. bring about an aggressive bull move
mes1t i'm the rest of the year, owing to
the weakened position OF bank reserves
and TO the various uncertainties in the
situation that are not calculated to at
tract the public TO Wall Street. In the
late afternoon the general market
showed considerable weakness, with the
heaviest declines in Union Pacific,
Tinted States Steel. Amalgamated and
professional element. which began to
sell with freedom following the an
Douncement that a. meeting of steel rail-
manufacturers was in progress consld-
ering specifications and other matters.
some difficulty having arisen in connec-
ton with the PennsyIvania's recent or
der for $50. 600 tons OF rails. The mar
al a times.
with active trading confined TO Union
Pacific. Reading. United States Steel,
American Smelling and Lehigh Valley,
the last named showing the only pro-
nounced strength in the day. Banks
called a large amount of loans and call
money was firmer.
lust as long as transactions in stocks
are confined within narrow bounds. as
they are at present, the low position OF
the local bank reserves should not be
reflected in stiff rates for money, al
though higher quotations may DE looked
for over the end of the year. incident
to the financing of the January interest
and dividend disbursements. The de-
mand for accommodation on stock mar
kct account Is tAtIrHlcl iis,Ait' NAAAio
innufrv from mercantile sources likewise
is If 11nimportant dimensions, and from
current indica tons activity in the loan
market from either source will not de-
x-e1op in the near future. On their
c,,erations with the Sub-Treasury the
hanks at this centre have lost more than
81 100000 since Friday, but the course
of domestic exchange suggests that In
tho current week the New York instltu-
tions NAV gain from the interior, where
the demand for funds is lighter than re-
Gently renorted Western institutions
look for no trouble in the money market
New York failed to secure any or the
South African gold offered in the open
Tondon market yesterday, and sterling
exchange here showed an advancing
tendency for the first time IN seVerdi
weeks without, however, a matefiai
change in rates. Exports OF doiheslic
products in November, the fgureS OF
which, were received yesterday, sho" d
fo,,ing off in all items except cotton
.bo shinments of which Increased III
,-alue IS. 52S. COS, against a decline IN
hrea .Jstuffs. meat and dairy proouctS.
oo,t1a and mineral oil to the amount Vi
s.. 665, 1916.