The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-08-12

Of the way and the national Treasury
strengthened there seems every reason TO hope
for = period Of fairly good times. The first Of
these drawbacks appears 10 be reaching a point
where definite knowledge viii soon be ~prsctica-
bic. Unfortunately. - N the second desidera-
tum. those in charge have never yet shown the
ability necessary for a proper conduct Of the
Governments finances, and they appear entirely
oblivious 10 conditions that are viewed with no
slight concern by more competent judges.
The directors Of the Atcbison Company went
through the form ality to-day Of accepting the
resignation ~ Mr.. Reinhart. Their statement:
Of this event was made without comment On
their part. 1nasmuch a. every member OF the
Board il morally guilty Of neglect Of duty in
their tacfeepproval Of Reinhart's methods. II is
dihicult 10 see what they could say with pro-
priety. Those Of his associates in the manage
ment OF the property who have expressed them
selves on the subject have been quite unanimous
IN declaring their ignorance Of what has been
going on. such excuses do not commend them
selves TO the ordinary Judgment. The choice
between completely and shameful neglect Of
duty has to ne made by every one Of them. 1t
would almost seem that the more dignifed
course would be to elect the former rather than
IN plead what in vulgar parlsnce IL called the
Baby act. II is to be hoped that the surprised
aud righteous Indignation aroused by the dis
closures will not abste until IL has found ex-
preston In measures tax en- to discover II some
body can~nt be made TO feel the results Of law
Meakina.
The weekly net statement shows that the
banks have increased their loans to the extent of
s2,31s.2oo. and that the borrowers. who appear
70 have been out-of-town banks. have drawn
promptly on their credits. The decrease OF
nearly 81, zoo. 900 in legal tenders no doubt rep
resents in part shipments OF currency against
the loans. The increase in specie OF over $780,
900 was well distributed among the larger
banks, some Of whom it is known do not differ.
entiate in their accounts between their gold and
silver holdings. Deposits decreased Sjlg.40O;
the various changes resulted in a decrease in
surplus reserves Of s2,ooo,o 900. A year ago the
Associated Banks held over s18. 600, 900 less
than their legal requirements, that week marking
the height Of the money panic. This weeks
statement was generally considered a favorable
one as rejecting an increased demand for
money.
The days speculation was an exceedingly
trihing one. The Granger shares were depressed
by the sales OF professional traders who pre-
sumably based their operations upon the crop
prospects as indicated by the July Government
report. As the very pnfsvorable weather OF the
succeeding ten days in August has no doubt
still further reduced the corn yield, their opera
lions were 10 tnat extent logical. sugar anC |
were the only other stocks dealt in 10
the extent OF 5000 shares. but neither OF them
materially changed in price at the end OF
the day. In the absence Of any more positive
news from Washington the market agents Of
neither stock appeared to he willing to assume
operations. Western Union and the
Southern stocks showed a resumption Of their
recent strength. The bond market continued
active, with considerable strength In the issues
Of the Southwestern properties.
As compared with the final prices Of last SAT-
the majority Of stocks are higher. The
more important net advances were in National
Lead 80. Western Union 3. Louisville and Nash
Vile 2's, New York Central 21. American To-
bacco Ia United States Leather preferred lA,
Union Pacific 10, General Electric and Rich
mond and Terminal IN each. Wheeling and
Lake Erie preferred lAs. Northern Pacific pre-
erred IL, American sugar and Delaware and
l each. Ontario and Western Il, Atch-
son. Canada southern. Missouri Pacific, Read
ng. and Wabash preferred Ieach. Chicago Ga.
and Lake Shore y . cent. The noteworthy
were in Burlington and Quincy 10 y
,enty. Rock Island and Distilling and Cattle
Feeding v each, and Susquehanna and Western
4 p cent.
Final sales compare with those of yesterday a.
ollows: