The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-11-20
STOCK CHARACTER
RULES UNCHANGED
IN SHORT SESSION
Trading Again Is Active
With Prices Showing
Irregularity.
LOWaOILS FEATURE
Certain Other Specialties Bid
Up Sharply, With Profit
Taking Conspicuous.

NEW YORK. Nov ls.-Today's
short session brought no change iu
the character Of the stock market
Trading was still active With prices
showing much irregularity. Certain
specialties and several low
priced oils were bid up sharply.
while other parts OF the list re-
Elected profit taking. Toward the
close the list as a whole was lit
tie changed. The other markets
were devoid Of striking features,
Sterling was unchanged at tS.ssk
and the continental exchanges
moved little from yesterdays close.
January cotton gained % points at
1859 cents and May wheat advanc-
ed y of a cent at s1l2.
Clearing House Reserve.
Although the excess reserve Of
the clearing house bank is de-
creased by s5.5oO.Oo the total for
this item still stands at f2s. 600 .oOn.
Loans meanwhile have increased by
s53.1oo. 900 and deposits by Ssl.3oo.-
600. Reserve deposits at the re-
serve bank are $4,000 smaller
and government deposits show a
shrinkage of s26.7O0.O0o.
Money Situation
Leading money brokers report a
pronounced change in the condi-
tions OF the money market during
the past week especially in con-
nection with dealings in time
money. The amount OF time money
purchased during the week reached
close to s5.oOO.O0O and loans were
made yesterday on all Industrial
and mixed collateral as low as
per cent for the first time in over
two years. In the Intervening pc
riod up to a short time ago the
time money market was one OF b dS
without offers. but reached its
greatest degree OF strinEency iu
the first week Of February. 1920
wher 80 day to six months moSey
loaned as high as lsE per cent.
The lowest rate last year was Poo
December. when loans were made
at ~ per cent. Call money went
, through the usual course during
the week OF being easy in the frs
three days and then developing
stringency. This was attr bu;ed &"
the withdrawal Of out 81 town
funds, which had been the chicF
factor in causing the lowest rates
in the early dealings. IL was COM
mented on that when call money
declined to az per cent or under
I that IL Immediately becomes scarcer
/ because Of the diverting Of employ
ment OF excess funds into United
! States Treasury notes and accep-
! tances.
Attention was called 10 the i'm
crease in asset value OF Reading
stock that must result from the
sharp advance in the stock Of Tire
! Central Railroad Of New jersey
/ during THE past week. The Read
/ ing Company owns a majority q
the capital stock OF the Central
] Railroad OF New Jersey Ifs hold
ings on December 81. 1920. amount
/ ed to s145O4. 900 with that stock
selling above 200. Reading has a
large excess over the amount A.
I which the Central Railroad OF New
Jersey stock is pledged as DolIst
eral for the Reading Jersey Central
collateral Is.
Irregular movements in the Pc
troleum stocks during the past
week were generally attributed u
a belief that the adva noes in that
group had been too rapid and vio-
lent. but after trading diminished
in high priced issues many OF the
low-priced stocks demanded atteu-
ton