New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-17
STOCKS IGNORE GOOD NEWS.
THE BANKS NOW REPORT A SURPLUS OF
OVER SIO,OO0,0Oo.
Az rXrypFCTrpIY FINE STATEMENT STOCKS
DULL AND INDUS TRIAL SHARES
DECLINE FURTHER

DECLINE FURTHER
The most sanguine expectations OF the weekly
bank statement exceeded by the sctua eNf'o''
made public yesterday 1t has been months since
50 favorable statement was issued ana White TIE
items were not entirely consistent. the discrepancy
WAS in the nature OF correcting the discrepancy OF
a week ago. Perhaps the most gratifying feature
OF the showing the increase OF S'is''~" III ue-
posts There reduction OF HOss4 n IN ioahs
and gain OF s. jOG 800 in legal money held Inc IN
crease in the surplus s6SJ,325 ana that
item now stands slO.6O 100. against surplus OF
q NO ~ in the corresponding week Of 1892, and or
81 M 80 in 1891. The banks hold in cash slVis-Vi''
compared with s27 ss $50 in 1892 and NO9 1895 'w III
1891 The loans amount 10 5ssssOso. against s4''-
FL 800 in 1892 and $40 jssjJ0 in 1891. The deposits
aggregate s377 272 against Ssl 1864 In l2 anu
siOj $50 $40 i'm 1891 The of loans over deposits
is now reduced to about sl5.O0.o0O The statement
exceedingly gratifying TO bankers. and there II
now a general expectation that there Will be large
cancellations of Clearing House loan certihcates S
week Some conservative bankers, however, doubt
the wisdom OF a free retirement OF certlhcates De-
fore the crops have been moved and the ability OF
merchants to make their autumn settlements mas
been determined The retirement OF certificates now
going on loses much Of its significance owing to the
fact that few OF the made TO relieve necess-
ties Of banks or OF their customers have been
among the cancellations.
Other favorable developments which Interested
wall street Yesterday were the Government re-
ports OF August exports showing large gains over
1892 in breadstuffs and provisions. and private ad-
vices saying that the prospects of the Silver Repeal
bill in the United States Senate had improved the
darker side was seen in the complete returns of gross
earnings Of IA railroads in August indicating ue
crease of $63i43S 1906 per cent. on an increase
i'm mileage Of 2Jj9 miles. 2Il per cent. Bankers
too are still discouraged the recent reports from
Washington regarding the silver situation, and feel
uneasy lest the silver men may be able to force
compromise legislation
The stock speculation extremely dull and
wholly Indifferent to the excellent character OF
the bank statement Some traders argued that the
bank statements had lost their speculative in
fusncr because their character was anticipated,
but others contended that the reason why prices
did not advance on Yesterdays showing was be-
cause OF the stagnation OF the market. The dull
ness In business. il is argued will assure the accu-
mutation Of idle capital in the New-York banks. 80
that t. further gain in cash will simply reflect lack
Of -rterprise The Industrial stocks were about
fl. only ones which commanded interest in the
market American Sugar Refining rallied to ss but
then declined to Ga.uS57s. Chicago Gas Tell from
js 70 5si.a5s5, and General Electric, after selling
ND TO 49,. closed !. per cent lower at Il. National
Lead sold from 29l. TO 2si4nS and National Cord
aye from e to 30 .Q25is. The changes In railway
stocks were narrow and the closing quotations
showed fairly evenly divided list OF net losses
and gains \ rally OF about lsdl4 per cent
sured the late influence Of the issue OF the
bank statement. The changes in the last TWO
weeks are shown in the following comparisons OF
Yesterdays last quotations with those OF the pre-
ceding Saturday and the week preceding that: