Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-26
CONDITIONS STILL FAVORABLE.
The Continuance. 1t Is Said, Largely
Depends ON Action of Congress.

The Continuance, 1t Is Said, Largely
Depends ON Action of Congress.
Special Dispatch to the Evening Star
NEW YORK, Aug 26.-The financial situ-
alton remains unchanged, and the brighter
prospects which have lately affected prices
so favorably continue to exert a good in
fiuence over the course Of the market The
prediction that the banks would make
good showing in today's statement was
verified even beyond the hopes of the most
sanguine, who had figured the increase in
reserve at two and half or three million.
On the prospects of this improvement
IN the condition Of the associated banks
positive assurance, that the House will
repeal the silver bill on Monday, prices
have been advanced and speculation en-
couraged.
The banks having done justice to their
share of the responsibility the burden Of
continuing the longed for improvement
now rests with Congress
Should the bill be repealed in the lower
mouse the enect on prices should be immedi-
asely ieit, not only because it will be re
put because of the effect it will have in
demonstrating to the Senate the desirable
lty or speedy concurrence in such action
Yesterdays steamers brought in s., 300 600
gold, which reduces our net exports for the
year to 81, goo. The banks have gained
trife over $5.25O.OOO in lawful money, as
SHOWN In the reserve, not including the
above arrival Of gold. The deposits show
no change to speak of as compared with
last week, a decrease in that item owing to
a reduction OF about 100000 in loans is
onset by the gain in cash. The deficit in
reserve is now about 81, 100000
"A summary OF the statement follows: Re.
serve increased S5.30S.125, loans decreased
2,S32.SO; specie increased s4579, 100; legals in
creased STA. 400; deposits decreased Silt 500,
and circulation increased 81 .042, 900.
The market opened up from Ia to IA per
cent, and continued strong and fairly active
until after the announcement of the bank
statement when it reacted from the best
Among the stocks that improved most
were Lake Shore, which advanced to III 1-2,
a gain of IA per cent. Lackawanna gain
ed on two quotations to 1l9, an improve
ment of two points from yesterdays clos
Ing and Manhattan opened up l per cent at
liz and was strong at that figure.
Ihe industrals were strong and active
but their gains were only fractional, and
the closing was in the neighborhood Of last
The clearing house statement reports ex-
changes. $50. Sl3: balances. 81. 1886. TO and
the subtreasury's debit balance. ss2072.
Inc week closes very satisfactorily and
indications point to a steady and healthy
CROWN IN the course of speculation that
VIII eventually result in higher prices and
a return of confidence The thirty-dav
limit REQUIRED by the savings banks viii
expire next week and considerable interest
Is manifested as to the result
1t Is not likely that any trouble will arise
as many who have given notice will not
take advantage of the opportunity to with
draw their deposits
The improvement in the bond market still
continues and foreign houses are daily in
receipt OF cables from Europe making in
quiries after the better class of invest
ments. These orders. however. it is said,
are contingent on the repeal of the silver
BILL and II executed, will lead to a material
advance in prices
The fate of the market hinges largely on
the developments of the coming week about
which at present there is but little appre-
hension.