Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-09-09
BANKS IN GOOD CONDITION.
Shown by Today's Weekly
Statement.

Special Dispatch to the Evening Star
NEW YORK, Sept. 9.-The initial prices
in today's market reflected an Improvement
of Ii to l per cent over last nights clos
ing. London, too. had improved over night
and the market for our securities on that
side was strong on limited volume of
business.
The higher prices at the opening led to
some liquidation on the part of room traders
and prices momentarily declined, but rail-
lied sharply on renewed assurances Of a
good bank statement.
The usual process of discounting expect
ancies had at the end of the first hour
marked prices up to the highest point of
the day. Manhattan was again conspicu-
Gus feature and advanced to 128 10 q gain
of l-2 per cent from the opening. Reading
gained 3-S per cent to q 3-S. and Lacka-
wanna sold up to IA 1-2, an improvement of
81 per cent.
In the industrials sugar and Chicago Gas
were the most active, the former onening
at an advance of l per cent and adding
another on sales to So. The latter gained
two points to 81 -4 and declined at the
close to G. 1-2.
The clearing house statement for today
showed exchanges s73, 100 959 balances 81
Sl1.3S and the subtreasury's debit balance
Soil .33l. The banks have been gaining
steadily during the week through sub
treasury operations, due in a measure to
the paying Of pension warrants over the
counter
The bank statement, while falling a trifie
short of the estimated increase in reserve,
was fully up to general expectations The
increase of $4,509,009 in lawful money,
divided about equally between specie and
legal tenders. is fully shown in the reserve,
as the decrease in loans has served to keep
the deposits about stationary.
The banks are now about SO, 0OOOO above
the legal requirements and the reserve is
pretty evenly distributed, all the national
banks being up to the % per cent limit
and the state banks averaging about q per
cent.
This is the first time in many weeks that
the weekly statement has shown the asso-
clated banks in thoroughly healthy con-
dition and currency in good supply.
The exact figures of the statement follow
Reserve increased 81, 533 SEQ; loans decreased.
100; specie increased, s., 400 400; legals
Increased, 49, 900 deposits decreased s222
400, and circulation increased 81 297 800
Easier money will naturally follow and lend
ing on mixed collaterals be again in order
Clearing house certificates should be grad
ually redeemed also. and all evidences of the
recent monetary makeshifts destroyed
! The market reacted at the close, a pro-
ceeding suggested by good prices and the
subsequent taking of profits by the profess
sional element
The strength Of the market during the
week has demonstrated that the short in
terest was abnormally large and that con-
siderable stock has been absorbed by in
vestors and temporarily withdrawn from
speculative channels. At no time has there
been any pressure to sell and in many in
stances the shorts have discovered to their
ultimate sorrow that the demand was
greater than the supply.
A gradual improvement in railroad earn
fngs Is predicted from now on and will be
a welcome diversion from the monotonous
decrease during the summer
The debate in the Senate will probably
be reflected In the course of prices during
the coming week and should it tend to an
early settlement Of the silver question will
prove valuable addition to the gradually
frightening line of optimistic arguments