Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-07-29
STOCKS SOMEWHAT LOWER.
Effect Of Proposed Action OF the New Yorl
and Brooklyn Savings Banks.


Special Dispatch To the Evening Star
NEW YORK. July 2s.-The opening of
the stock market this morning was some
what feverish. prices varying from IA to
l per cent from last nights closing The
action of the savings banks in trying to
enforce the 30 and 90 day notice of with
drawal was responsible in a measure for
the decline. as was also yesterdays raiding
of General Electric.
The banks connected with the clearing
house are not in favor Of adopting the sug
gestion mentioned above, and they may
have sufficient influence to defeat it.
After three days OF comparative quiet,
as far as failures were concerned, tele-
grams from Great Falls. Mimi. reported
the suspension of the First National Bank
OF that town. The Union Banking Com
pany Of Portland. Greg. also closed its
The only encouraging feature of the day
was the engagement OF considerable
somns Sf gold s9 shRmsas %
100000 from Liverpool next Wednesday.
Kuhn Loeb and Co. have ordered $25O0OO
ing today, and the Campania arrived from
Liverpool bringing f5S, 900 consigned to A.
Belmont and Co. and Ladenburg, Thalman
and Co.
The bank statement today was not as
good as last weeks. but the decrease in
reserve was not 50 large as was expected.
"A
Reserve decreased. $s,O45.l2S; loans de-
creased $2.7O5.3 800; specie decreased, N.22l.-
400 legals decreased. s. sss. 500; deposits de-
creased. s.. 100: circulation increase.S 1O.-
advanced steadily from 30 to 81 "a. Sugar
lost per cent. declining to s.. and Chicago
Gas reached 1-2 to II So.
In the railroad list Lake Shore sold down
2 per cent to 1oS 1-2. Manhattan lost a point
,Atchison earnings third week in July
show a decrease Of $92. PIG.
The market closed without any special
opening prices.
In the London Market.
LONDON. July q, 4 p.m.--The stock mar
ket today was marked by the usual quiet
ness that prevails on Saturdays. An easy
feeling succeeded the nervousness Of the
settlement which closed es:ertlay. The
satisfactory result Of the settlement was
obtained through much assistance given by
large firms to smaller operators.
There was a slight reaction at the open
ing this morning In American railroad Sc
curities IN sympathy with the lower prices
at the New York stock exchange yesterday.
but subsequently the market rallied and the
loss was more than recovered. The market
became firm all round.
A very large bear" account Ii still open.
Shares are scarce. and therefore. fur
ther recovery In values seems assured. The
road securities were irregular. The changes
however, were not important.
fair amount Of gold was bought In the
bullion market for the AmeriC1n account
Gold to the amount Of f200.uOO was shipped
to the United States today.
$50 p. m.-The market closed irregular
There was little doing, but there was mani
fest disposition to sell. American railroad
securities closed decidedly dull. There was
a more pronounced weakness on the street
after the official close Of the stock ex-
change. most prices falling from IA to LIZ
below those Of the official close.
Compared with yesterdays final prices.
Louisville and Nashville was down 5-S;
Philadelphia and Reading. 5-S; Lake Shore
and Michigan Southern. 2; Union Pacific,
1-2; New York. Ontario and Western, IA.
and Northern Pacific, IA.
Wabash. ST. Louis and Pacific preferred
advanced 1-2. Illinois Central also showed
an improvement. Canadian Pacific securi-
ties were higher on . favorable June state
ment. Mexican railroad securities showed
advances. South American securities were
firm.