The Washington times., 1910-12-18

tendency shows a marked Improvement
During tie duh intervals Of the week.
Wall Street devoted some time to the
discussion Of the court decision in the
Temple Iron Company case. the Su-
preme Court appointments, and other
matters Of that character, but none OF
these features and none OF the routine
happenings Of the week had any ap
parent influence on securities IL may
be saids in passing, that the failure Of
the market 20 hold the improvement
which followed the decision IN the an
thractte coal c6sE-WaS disa ppo5uting 70
the trading element; but aside from the
traders. few persons in Wall Street set
very much store upon the decision of
the lower court, because OF the general
impression that the Government would
carry the case on appeal 10 the Supreme
Court. Although in some quarters OF
Wall Street 10 wEs thought unfortunate
that one OF President Taft'E apDOintees
TO the Supreme Court bench had passed
on the Standard OIL case, and had par
ticipated also 81 the Government itiga-
ton against the Union Pacific merger,
which must come before him. the ap-
pOiutments IN general gave satisfaction,
particularly that % Associate Justice
White 10 the Chief JustiCeship-
Money Market Improvement.
Conditions in the iron and steel In
dustry received much attention during
the week, interest crystaIlizing at last
on the shutdown Of certain rail mills
az Gary, which, however, is a seasonal
performance Il Is certainly nothing
new to say OF the iron and steel in
dustry that It is duh. and II Is likely
10 continue so until the question OF
freight rate advances and other QUes-
tons involving the railroads are decid-
ed. The budget Of the weeks news con-
tanned numerous reports and rurnors OF
further litigation by the Government
against corporations; rumOrs Of labor
difficulties with railway engineers IN
y - -
a revival Of tariff a citation IN Washing
ton, AL OF which, under existing con-
ditions, were calculated 60 intensity the
prevailing dizziness in the stock market
Railway traffic reports which came 10
hand showed. as a rule. satisfactory
gross earnings, but poor net results.
Despite this, a hopeful note as 20 the
ability OF leading systems to MAINTAIN
poratiOu managers
Dull business ca the stock exchange
and somewhat curtai ed activity else
where. as Is shown bE g contraction OF
ISS uer cent f1 5ne total bank clear
auces % the country, IS relaxing the
local money market and as the year
draws 20 close Il becomes -ncreas-
iDgiV APPARENT that nc particular Errtl-
Eeucy IS likely TO develop in money.
eIlher at home or abroad Demand ster-
Ing exchange. atteT a sharp oleaAr due
recovered somewhat, and gold imports
are less likely than they were. but
there IS no evidence that the country
stands IN need Of gold at this time. As
vas expected from TIE character Of the
tank statements a week ago. improve
nent IS shown IN the loan and deposit
item IN This weeks statement The sur
plus reserve IN the average statement
reflects an increase Of [.249,135. and
now stands at s. 500 SO above require
mputE- Loans decreased Sl3. 0S3. 30. and
deposil contracted sl2.ls5.eo9- Cash
holdings were but slightly changed,
showing q decrease OF only S5s.20o-