New-York tribune., 1893-12-24


Iow-TlIE BANKS HAZE GAINED
MORE MONEY on DEPOSIT
Wall Street markets yesterday were III s'"'e
of considerable decentralization for a snort 'i''e
at the two hours session Of the stock ENc"aiiee
BEFORE the close. however. there was s""ip
81. fro,,, tho lowest prices under liberal cover
- sbort, contracts The dread of an un-
for,urate announcement regarding the Nchisoh
roneka and Santa Fe Railroad eXercseu d ue
nressing influence. but near the close ru'iioi'
wore circulated TO the effect that the prospectus
had improved for the meeting OF the company
fixed charges and floating loans on January l.
7, was irnnossible TO ascertain new facts respect
ing the position of the Atchiscn. as Pres'deh' d.
Nv Re,nhart and Colonel John j. McTook. the
general counsel were not TO be founu III '"e
afternoon. Nothing whatever was known al 'he
@oos ~ Raroun Magoun & Co Atchison stock
sold from 147s to a. but rallied to ana enoeu
,,,ohonsed AT 14s. The bonds were active ana
tho general As declined TO 65% and the SECONDS
"A" IN 2915 Near the close on sales or *9,ooo
tbe general As jumped from 66 TO 67 and on sales
of 10000 went to 6S12. The seconds A. OH
sales of $4,000, went TO "a. These prices were
interpreted by some observers as faVorapie "
the ccmpany's prospects. but the iatehess anu
suddenness Of the movement robbed this theory
of some of it's significance.
The most active stock New-York ana
New-England in which the transactions
amounted to over sc, 900 shares. flood Of stock
carried the price to 15A, and after rally 10
1Gal the net loss from Friday was nearly per
cent. 1t was reported that the bull pool formed
a short time ago around 80 had formally dis
solved and the current belief is that A. A
Mcleod. the president Of the company. had uil-
loaded his own holdings on the pool at higher
figures. Reports Of a probable recelyeIsnip ,t iot
the New-Engand road were circuiateo pu.
could not be confirmed II was announced that
the directors had appointed a committee or di-
rectors, composed of 4. A. Mcleod, frederlcN
A. Prince. Spencer Erwin and James Armstrong.
to provide the funds for meeting the interest
due January l. 1t is said that s2oo,ooo cash VIII
be needed to meet these obliga tions.
The general market was only fairly active
although the record was large for half-hollday'
More than 10000 shares Of Western Union IeIe-
graph traded in and after fall from oZ14
to 81 the price rallied to Sl7s. Distllling ana
Cattle Feeding dropped to 2las and at 2Si4 ended
with net loss of per cent Chicago Gas Iell @ 10
CO. but closed at 6lts, net gain or small ITac-
ton. On small sales American Tobacco feil ia
per cent and National Linseed OIL is down ia
per cent General Electric was stubbornly strong
under support from the pool and closed iractoh
higher The strength was displayed in the face
of dispatch from Philadelphia stating that the
WESTINGHOUSE Electric ana Manufacturing Com
pany had announced reduction in the price or
their lamps to both retailers and large dealers
1t is said to be the aim Of the company 10 30
still lower price in the future and thereby 70
greatly cheaper the cost OF electric lighting. Ihe
railroad list in the main was steady and prices
were irregularly changed, but the dealings
were small in consonance with the changes
The interest In the affairs of the Atchlson
and New-England roads was so intense that
little attention was paid to the bank statement,
which reflected once again a large accumulation
of idle capital. The amount Of legal money on
hand was increased S2,593,100. and the surplus
reserve was enlarged sl.76S,950. The loans
were increased 1866 100 and the deposits were
Increased S32966OO The banks now hold In
cash s2O2 $40 700 against s1l72 100 at the cor
responding date of 1892, and sll3,3O6,6Oo In 1871
The surplus reserve amounts to S7,95i, 10
against Sc 49, 575 in 1892 and $l9,4SOO25 in 1911
The loans amount 10 s416,2S7.OOO. against s45S'-
$50 900 in 1892 and s429. .255.400 in 1891 The de-
posits aggregate s49Ss47.700. against s44457oloo
in 1892 and s455. .306, 800 in 1891. The banks In
1891 had out on loan all but about s26.oooooV
OF their deposits in 1892 they had loaned out all
but Sc 900 900 Of their deposits. while this year
the deposits are over SS2.000,OOO in excess OF me
loans The large supply OF funds In the banks
renders the Street somewhat Indifferent 10 the
prospects of renewals Of gold exports after the
HOLIDAYS The rates Of discount abroad closed
strong at recent full figures. and the foreign
exchange market showed frmer tone on iight
transactions The demand for money on the
Continent Of Europe is reported to be as prisK