The nation’s basic money supply (M1) rose...

The nation’s basic money supply (M1) rose $1.2 billion in mid-December, the Federal Reserve Board reported. The Fed said M1 rose to a seasonally adjusted $752.2 billion in the week ended Dec. 21 from a revised $751 billion the previous week. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. The increase in M1 was far below most traders’ projections. A survey of 24 dealers of U.S. Treasury bonds conducted by Money Market Services of Redwood City, Calif., had showed an average expected rise of around $4 billion.