The Washington times., 1916-12-10
Money Situation Proves Domi-
mating Factor; Excluding I'm
portant News.
CONGRESS- HAS NO EFFECT
Interest in President Wilson's
Message Of Purely Academic
!, Character In Wall Street.

a'
Tn. uon.v .,,,.,,o, dominated Oh.
securities nn,rLet iast week ana an.
rarsd ths attsnt,on of wal, stree,
s,.s. -. a., .,.. ~
veIopments OF the nrst Importance at
home and abroad tl
The converting OF Congress- Monday
"a az. .,,,s,,..s,. =, az. p.-Is...,
message were received as items Of
academic interest mainly What Mr..
Wnson hed 10 oner IN MS brief ad-
uress was pretty much what the
the fact that be aid not Sissppo and
nose erpectations MADE 2 favorable
IMPRESSION, particularly IN railroad
circies.
mere was general approval OF the
Presidents inslstenee on the com
pusoy Investlgaion proposition,
anu tne uevelopmeht OF tne executive
sntessons WIN respect 20 Iorelgn
,r nae ,, sna inc hign cost Oh iiving PROD
isw, weeks WIN the BLUSH political
tue esnttstion IN france invoIv-
eraI Joffre, and the outlook for the
reistions OF this country with Ger,
The T.utonic arms In pn,,,,anIa VI
s,.te NJ urc.rt.,,,y.
L.
lsets In a state OF uncertainty.
This country has become n lending
nation of'strikins proportions Funds
~ nm almost feb,Io,,s amdunt have
been piaced To the account or The en-.
tente beiiiserents and heavy balance
have been maintained I'm Iobu"n'
In recent weeks the bank staiemont
"prvrs' whiot Sact as,rac,sS iii. NJ.
IGNITION until last week's ciearInr
house rsport diaoIo.ed nm ite,n ~ aniy
sIi.OOo. 600 epproximateIy Al The he.
rinninC or xxi. xeeL h.nk. sudd.nIy
took oopni,ancs 81 ths .Ituation .rhs
fact that extensiva snacui.,,nn IL
st,yrks had hem eoiny IN For . long
lime Sid not bcin 10 allay ths n.ryo's'
hank ing commvnitv s '''' NV
ON WondaY ,ha h.rl n...n ,.,,,,v
Ioana Ths horroS.r. whe hsd haan
disiodEed at once proceeded 20 seek
,hs, ia W., ana IN the eageu quest
rsached I6 per cent he bishsst isyei
since 1912. Something like 100000
was loaned Mt that figure.
Down To q Fer Cent.
A, IN. oio.. n, an. a.v r.,o. hal 4.
.,i.s y. % n' W.
,ned 70 per cent, put ,he next day
It'll some money loaned ms low as
a, ..rt ,,I,h r.,.,,a,,. =, sI -.
-, ' Wv" ~ on ~
- "a .t,.,. ., .,,.a,., ,,.
nsn Ia'os sttaeteo lunus
ON sns ,n.es,or, ana IN. , mse.ropo,,.
pankers peshh 70 WlthIraw pnl-
ncos from London. Thereafter rates
SEQ on until ON THURSDAY 'hey were
low as . per cent.
Nevcrtheiess' " IL the opinion IN
any banking quarters that the end
the hurry u not yet IL may be
az rates VIII huctuate broadly Tor
balance or the year In view or the
tnuary disbursements.
An element In the situation was the
taking OF steps by several OF the LARGE
banks to take advantage OF the priv
ege 20 rediscount their paper with
he Federal reserve banks. which
nded further TO aIlay the money
ringeney, and which was a source
{ no small satisfaction TO the Hpon.
'rs OF the Federal reserve system.
Treasury McAdoo took occasion
pay tribute to that System, say.
/, g:
NO strain Feit.
raj r,sery. .ysten, ana ,vitb onr
h....a, .,,,,,,, ossys ="
"ouhuaht suppS Oh soia as OASIS
Tho credit resources OF tho United
'tates have become more than suf-
.cIent for home demand. ana we have.