Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-28
MONEY AND STOCKS.
A Little Firmer Feeling, but No Ap-
prehension of high Rates.
A BULLISH TONE In WALL STREET,
Local Stocks Close With q Reactionsry
Movement in Progress
LATEST GENERAL AND FINANCIAL NEWS

SATURDAY, Aug. 27.
Money has ruled shade frmer at the
principal centers during the past week, but
there have been no developments calculated
TO cause apprehension of dear money this
fall. To-day's New York bank statement
was unfavorable, showing decrease in re-
serve of s., 49l 900. a decrease of 81, 3S6, 900
in loans, decrease in specie of A, 1926, 900, a
decrease in legal tenders of 81, 800, decrease
in deposits of 81, $50, 800, and a decrease in
circulation of Sl12, 400. A larger decrease
in the reserve was expected The loss of
actual money was greater than shown in the
reserve change, but the reserve requirements
were reduced to just the extent of the de-
crease in deposits.
Speculation was fairly active East and
West The cereals and hog products were
depressed by the strike and the cholera
scare, but railroad stocks not only held up but
advanced. the Texas railroad decision and
the confidence of big holders in the resources
and future development of the company
more than Outstanding the unfavorable fac
tors. Writing on the situation, Henry
Clews & Co. say: "Two events happened
during the week. which very materially
strengthened hesmarket, viz the Texas
railroad decision and the collapse of the
Buffalo strike. Judge McCormick's decision
bbdS vic Sbdbo uds llOk Tile power TO prevent
railroads from earning reasonable profits is
one of the most important and far-reaching
decisions of the day. 1t will undoubtedly |
be confirmed by the Supreme Court of the
United States. OF its absolute Justice there
can be no question; besides which it will he |
lasting and necessary rebuke to the COM
munfstic tendencies OF LEGISLATION in several 4
of the. Western and Southwestern States
The chief benefciaries viii! be the States /
themselves: for capital, which had left these |
sections severely alone for the last few
years, will again flow in those directions
with its reviving tendencies.
'Tne defeat of the switchmen's strike |
materially simplfies labor troubles for rail-
road managers, the refusal OF the en. ineers |
and other railroad organizations to partici- |
pate in a symn thetic strike having consfu- |
cradle significance. The strikers have thus |
learned an unwilling lesson; that while thew
may have the right to strike at will they |
must also recognize the equal right of em-
pioyers to fill their places with others with |
ont molestatlon. The future of the market |
certainly seems favorable In addition to
the facts Just mentioned stocks are in strong |
hands and money promises to remain easy |
even though rates show more firmness The |
renewal OF gold exports attracts little atteu- |
tlonp because each day brings us nearer a II
larger supply OF grain and cotton bills usual |
In the latter half OF the year."
The National Banks,
The following table shows the condition |
of the national banks in the United States |
as reported to the Comptroller of the Cur. ]
rency at uhe close of business july - 1894 |
which Is c. impaired with the previous report' .
May IL. 1882, and with the report for july ,
1891: J