The Washington times., 1912-01-21
STREET THROWS OFF LISTLESSNESS
AND BECOMES DECIDEDLY INTERESTING
After -Four Days Backing Filling Market Becomes
Cover Freey-mprovement
in the Betement-Money, Foreign Trade,

which prices are frrner and orders are
of well-sustained volume.
No doubt there II an Increasing dis
position on the part Of commercial in.
terests to take, a. far az possible, q
hopeful view Of the situation, but, az
pointed out by q careful observer of
business conditions, the National Con-
duit and Gable Company. whose opinions
upon such matters have come to DO
highly regarded. there are numerous
important basic questions of political
and economic importance to be settled
and there - Q growing feeling In the
financial district, accentuated during the
week by the disturbances at Lawrence,
Mass. and elsewhere, that labor prob
maua ANY q 81 n e.
ture Developments are likely to take.
The recent tendencies both Of politics
and industry, At home and abroad, have
been 20 unsettling or radical that capital
IL very difficult to obtain.
This really seems to be the controlling
note at the present time, and certainly
nothing which has developed recently
fiuence. 1t Is scarcely necessary to
specify on this point, for one cannot be
q reader Of the daily papers without
having the fact obtruded upon him
political unrest is weiI-nigh universal.
and that governments everywhere have
vexatious and delicate problems to deal
with. Unsettling as are our domestic
parties and candidates. superimposed
upon impending investigations. threat
ened tariff changes and the like, the
situation abroad seems even more I'M
Italy. spain. Russia, and TURKEY IN
Europe; Tripoli and Morocco in Africa /;
Persia and China in Asia, and Cuba
and Ecuador In the Western Hemis-
to tn: spirit Of unrest within the last
week or within the very recent past
Money Market Affairs.
The money market OF the week was
devoid of feature, except for the EVIL
dences OF further accumulation of funds
at this quarter. No particular interest
attached to the small gold shipments
to South and Central America, and
rates for time and call money and for
commercial paper were unchanged. 1t
Is generally believed that II the New
York money market alters at all dur
ing the months OF the near future the
impelling force Is more likely to come
from abroad than from home demand
For this reason. the SIC, 0o0. 900 German
loan came In for some discussion. for
1t is believed that It will induce Ger
man bankers to renew loans nego-
tiated here last November and Decem-
Der instead OF paying them of. 1t
Is, of course, possible that heavy cap
ital issues abroad might influence gold
exports but, AS under existing condi-
lions of our trade balance. these would
amount to nothing more than loan.
gold shipments would be viewed with
no alarm by this market.
Yesterdays bank statement was thor
oughly in line with preliminary fore
casts. According to the actual figures.
cash holdings increased $l6.94s, 0oo
Loans expanded $2S. 1873 900 and deposits
increased s42.372. 900 The surplus re-
serve increased $7,l24. 400. and now stands
at $i2,074.100 above legal requirements
1t is quite evident that the interior
banks are dumping their funds In local
institutions. for the interest they re-
ceive on their balances, and II this
continues II will constitute a real en-
barrassinent Of riches. 1t may, how
ever. and probably will. stimulate the
bond and investment division Of the
market.