Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-10-07
IN WALL STREET.
Another Favorable Bank Statement
Issued.


NEW YORK, Oct. THE short session
the yacht race and conditions general,
We're effective barriers to speculative az
tivity In today's market. What few trader,
there We're served to hold prices well w
ABOVE the opening but commission orders
and enthusiasm were both lacking
London was dull. an from IA to 1-2 pei
cent lower. with some selling orders on this
side, principally st. Paul and Nashville
indications now point to some solution OF
the silver question next week. Traders
are unanimous in the belief that a compro.
Iiise that Will not efface the so-called Sher-
man act from the statute books, would be
OF no benefit. and that relief can only come
from complete Endorsement of the adj
mlnistrat TONS policy
should the latter course be adopted a
snarp rally would probably ensue, but it is
not reasonable to suppose that the advance
Cau DE sustained from this course alone
Stner conditions. of which this was per-
maps the most prominent, contributed to the
depression and the repeal can only re-
pair It's share of the waste, leaving a very
consIaeraoie balance to be provided for by
auoitlonal legislation and the healing pro-
cess Of time
Should the compromise element prevail
the Dear element will again be in the as
cehuancy' with good supply Of working
me bank statement today attracted little
attention by reason of the small attend
ance at the board. The banks have gained
ee,oV"UU In lawful money and the deposits
snow even larger increase, and are now
nearly $l,OOO.OOO in excess of loans, even
though an increase in the latter item is re-
ported.
The Increase in deposits will require two
anu quarter millions additional reserve.
which leaves about $500, 900 in lawful money
applicable to the surplus which will bring
that item up to S2S, 500, 900.
While these figures indicate the handling
ana accumulation Of immense sums Of mon
ey and the return of confidence In financial
circles they do not reflect any commercial
prosperity. The banks are now engaged in
doing what the public was severely crit
icised for doing several months ago. name
ly. boarding money. The accumulation of
idle money In bank vaults is direct evidence
of the crippled condition of trade. With
doubt and uncertainty hanging over our
entire financial system the element Of risk
was increased to borrower and lender alike
and neither care to enter into contracts CT
this sort until something definite is de-
A summary of the bank statement fol-
lows: Reserve. increased, $4.508. 225; loans.
increased. $S47. 400; specie. increased. 1885,
500; legals. increased. s.. 225 e00 deposits, IN
$544. 400.
The clearing house statement today
shows: Exchanges, sS1 800 1888; balances,
A.ssS. 7s2: and the sub-treasurer's debit bal
Sterling remains unchanged at 4S4a4s6
withou. any special demand. The few
prominent stocks today were Delaware
and Hudson. which advanced 1 per cent
to l22 IA. Northwest scored a similar i'm
provement to 100 3-4. and Western Union
gained rs of a point to SO 1-S
The fndustrialS were strong within mar
row limits. Distillers profiring the most
with gain Of per cent to 28 3-S
New York Central earnings for last week.
announced today, show an increase OF
1850
The market closed steady and dull with
prices slightly in advance Of initial figures
The weeks trading has been singularly
unproductive, but closes with the assur-
ance that the developments of the coming
week will lay the foundation for a period
Of recovery and financial improvement.