Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-09-30
A GOOD BANK STATEMENT.
Nevertheless Prices fn Wall Street
Generally Closed Lower.

Special Dispatch TO The Evening Star
NEW YORK, Sept. Smoothing in today's
market, nor In the Developments at Wash
ington. reflected the improvement in con-
ditions SO confidently predicted yesterday
afternoon. Rumors from mysterious
sources are hourly circulated, giving re-
newed and emphatic assurances that the
passage of the repeal bill will 40 down into
history under date of one of the first five
days in October. Facts that tend to verify
these assertions, however, are scarce, but
with a Eighty short interest to deal with a.
rumor properly circulated will accomplish
wonderful results. Opinions differ as to the
extent of the short interest now in the
market, as nearly all the large operators
on that side were scared out in the middle
Of the week, on what was construed to be
an Improvement in the Senate attitude
toward repeal
On the other hand, in a market unuues-
tonably narrow and professional IL is diff
cult to account for the recent exhibition Of
phenomenal strength unless the scarcity
Of stocks and an unprecedented short in
terest are responsible Yesterdays sharp
advance In Dlstillers on reported doubling
of the duty imported spirits was with
out foundation. This information. whether
from accident or design, was the basis Of
a three point rise IN that stock and a gen.
eral squeezing out of shorts. The stock
was again active today and advanced from
Is SIS to 81
Nashville's affairs are not as serious as
at first supposed, most of the men having
longer entertained.
The demand for stocks at the opening by
traders was soon satisfied, and the market
relapsed into dullness. London did nothing
on this side, being deferred from entering
into any important movement by reason Of
the conflicting advices on the silver ques-
ton.
The foreign mails having closed at an
early hour this morning there was practi-
cally no demand for sterling. and bankers
were not disposed to make contracts for
next week. Yesterdays rates remain I'M
changed at 4S5aiS l-2.
The bank statement. as was expected.
was unusually good, and shows the banks
to be in thoroughly healthy condition.
The actual gain In lawful money is about
S. 80. 900. of which 81 75oeO is REQUIRED to
offset the gain of 81 oo9aee in the deposits,
thus making the net addition to the sur
plus reserve about ss,50o.@n.
The banks now hold Sioo0op above the
legal requirements. The increase in loans
is small by comparison with the increases
in other departments. but II is an improve
ment over last week, and is encourage
as indicating a disposition on the part of
the associated bankers to extend their &C
commodations.
The statement in detail is as follows: Pc
serve increased s6.510550. loans increa sed
s3sS 800 specie increased SIZE. 800 ie-ais in
creased s6.145loO. deposits increased s7,GS3,
! 400 and circulation increased SlS5,3e9.
The clearing house statement for today
reports exchanges sl,si7.G0' balances. s2.s4l.-
600. and the subtreasury's debit balance.
S4S9. 40.
| Among the stocks that were benefited by
| the earlier trading were Missouri Pacific.
which gained ] per cent. to -; Burlington
advanced to So 3-i. gain OF is per cent,
and Lake Shore gained SIS, to LIZ.
| The industrials. with the exception OF
| sugar. We're not particularly strong and
| were not materially affected by the days
| trading.
| The market closed duh and irregular. with
prices generally below the opening ana at
concessions varying from Ia to 81 per cent
below the best figures Of the first hour.