The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1914-12-19
RATE RULING STOCK
PRICE BOOM FAILS

NEW YORK. Dec. 1s.-Despite the
fact that railroad hes,is express much
satisfaction with the Eastern rate case
decision. and big business looks for a
fsr-reaching sentimental effect. the
stock market today showed no speciaJ
Improvement as a consequence OF the
increase in freight tariffs. The oDeninc
was dull, with insignificant price
changes. the small traders being IN
cIined to wait for a lead from the large
interests. which was not forthcominS.
there was no marked Improvement IL
me volume or business done but a
strengthening tendency developed short
AFTER tho opening and continued
throughout the first hour, which result
ed In rather general fractional advance
OF small proportions.
Notwithstanding the ,taternent a,tvit,
uted to Howard Elliott that the Neur
YORK. New Haven and Hartford wotlld
not benefit more than S25000O a year
nom the rate increase, New Hayer
was one OF the strongest Issues In the
market. registering gain OF IL points
for the day. to close at 5s7s. American
Beet sugar, on a few transactions. adj
vanced ls points to 317s, the rise beipe
based on reports OF large earnings.
With yiewito popularizinc the doilaI
IN South American trade Horace q
states to Balkan and Latin Americas,
countries. has suggested the coiuing of
souvenir - gold piece in conuectior,
with the opening of the Panama-Pacif,.
exposition. so designed that the renUb-
hes OF South America may later be pre-
Naled upon to adopt IT among their
own national coins and thus es;abIish a
form OF money that will ultimately pass
current anywhere in the Western HEM
sphere. The idea Is set forth in thu
forthcoming Issue OF The Americas. the
puoiication of the National City Bark
Announcement has been made of IN.
purchase by the Pennsylvania raiIrosd
fqr 100000 of the DAYTON, Lebanon nI7a
CINCINNATI railroad. which runs fron
Dayton to Lebanon. Ohio. and there
connects with the Cincinnati Lebanon
and Northern railroad.
The executive committee of The Fod-
erel reserve advisory council, appointed
AZ the first meeting OF the council A
rev days ago. in Washington, was IN
session practically the whole of veg
terday at the offices OF j. p Morgan. a
member OF the committee. Il Is under
stood that they considered rules and
regulations under which State institu-
tons should be admitted to the Federal
reserve system. how rapidly, and in
what direction the collection OF checks
through the reserve banks snould be
extended. what should be the discount
policy Of the reserve banks, and what
Investments and other open market ope-
rations should be open to them. The
committee will report to the council at
It's next meeting. In addition to Mr.
Morgan, the committee includes J.. 3
Forgan. of Chicago; Levi L. Rue. OF
Philadelphia; Daniel Wing. Of Boston,
and W. 8. Rowe. of Cincinnati.
Cotton exports for the week exceeded
all expectations, being larger than for
the corresponding week last year. The
total shipments were e35Ss as com
pared with 2S,121- for the same week
in 1915.
Comptroller OF the Currency william,
has readtusted the system OF exam
nations OF national banks. Under the
new arrangement there win Oe twelve
districts to correspond with the Fed
eral reserve divisions. The examiner
in each district will be under the super
vision Of chief examiners, whose head-
quarters Will be in the reserve cities.
except in the Fifth district, wnere the
chief examiner will be located in Wash
ington- About month ago the S-s-
tenn Of remunerating examiners BY fees
was abolished. and all examiners are