Morning journal and courier., 1893-08-14
Einailcial.
Market Prices Irregular - Dullness and Surface Fluctuations in stocks Hank Reserves Decrease S2,527,- 575-GoId Received S7IO,0Oo, and S66O.OOO More Ordered.

Market Prices Irregular - Dullnesr
 and Surface Fluctuations in Stocks
 Hank Reserves Decrease s2.527,-
 575-GoId Received S7I0,00o, and
 S66O,OOO More Ordered.
 NEW YoRK, Aug. 12-Coming as it did al the close of a week with so sensational developments on the money market. the bank stat .ment was awaited today with peculiar interest To the average observer, it's figures were profound disappointment. With nearly sis o01, 900 gold received this week. according to the custom house figures, from foreign countries, it was naturally expected that the clearing house bank reserves would show a heavy gain. But they did not on the contrary, the banks reported an actual loss in specie alone, reaching to oo There is but one possible explanation Of this seeming anomaly, and that is that the banks, on their own account, have not rec. .iEed and held the i'm ported gold at all.
 That the clearing house banks should have lost two millions gold is not so easy to explain. It may be that this sum was devoted 10 the pur- chase of government bonds for new circulation; it so, the new money has not yet been received, the increase in note circulation this week aver aging little over sT0o0oO. The gold was cer- tainly not ell paid out to dspositors, for the age on this account Is relatively small Much Of it, probably, was ssnt out Perforce to meet the imperative demand for August pay rolls; sc count settled. Loans have, meantime, in creased very largely, which was a proper result of the weeks new issues of loan certificates This has relieved the banking and mercantile borrowers, and has made possible renewal of old loans, and 1t should be recalled, in any case that the loans based on the new gold, even if made by special and private contract, replsce accommodation for which the borrowers would otherwise be dependent on the banks Yet the O resaryes sugraSts 0ae sarSnua and imperative warning Be the lenders who they may, 1t is their unquestionAbls duty to supply the needs of the regular commercial trade. If good judgment rules, this will be done; but If, by any mad infatuation the gold were to be used by lenders merely 10 help a speculative forcing up of market prices, there would be a reckoning later on with the violated laws of good nuance On the stock market, the statement, in a feeble way, found its reflection. The opening was heavy, with some declines in the first hour, and there was some effort to emphasize the weak ness after the bank report was published. This second movement was hardly a success, and in deed, for the time being, operators for the de- cline are much more afraid of time loans on stock collateral than of free purchases Of mer- chants paper. The probability is. however. that yesterdays loans were the third step In the un. dertakIng entered upon two weeks ago, when a few bold capitalists put up The stock market on call loans, plainly under engagement Of the later extension of these loans on time when the i'm ported gold should come to hand. The net move ment of prices to-day WAS, as may be seen, very irregular. Gold to the amount of SiS1.ooo came in by this mornings steamers. and s65o 900 more was drawn from the Bank Of England. The sus. pension of c small Brooklyn bank, and 6 revival of bearish rumors regarding one two power full corporations, had only passing Influence on prices.
 Following are the closing prices, reported by PRScE q wBTTKLT, bankers and brokers, e Broadway, N. r., and IS Center street, New HE- ven, Conn.