Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-08-04
Mean temperature. .....
NEW YORK STOCK MARKET.

NEW YORK, August sugar was sold
about a point lower. but the weakness
of the stock had no effect on the general
list. This rather Disconnected the bears.
and in the last hours OF business dis
position was manifested to cover short
contracts.
Sugar. as usual. was a feature, and sold
ND to 1l5gllj Ii. The Changers and Ca
NADIA Southern were also in demand,
and recorded fair gains on the day. Tn
confirmed reports that the Bank OF Eng
land had lowered It's price for American
gold stimulated buying. for the reason
that the reduction. however slight, will
scoop out the margin Of exporters Of the
metal.
The settlement Of the bituminous-
coal-trade troubles in the Pittsburg dis
on the securities Of the roads carrying
soft coal later on. and certainly had
some on Wheeling and Lake Erie.
Speculation closed quiet and firm. and
net changes show advances OF 1-ial-2
per cent, Sugar leading. Erie lost IS
and Manhattan ! per cent. The total
sales were HOSP shares. Including $3.50
shares of Sugar, 7.i0o Of Rock Island $50
Of Burlington, and 600 of st. Paul.
Bonds were dull and higher.
The sales Of listed stocks were 5000
shares. and Of unlisted stocks $500
shares
Treasury balances: Coin. s97.CS3.OOo;
currency. EG2,S7l.op0.
MONEY AND EXCHANGE.
Money on call per cent; prime mer-
camille paper. Az per cent.
Sterling exchange firm. with actual
business I'm bankers bills al 1881 -2p
sis9 81 for sixty days, and $3.50 1-iaSiS0 IL
for demand. Posted rates. A9Cq$49l.
Commercial bills. siSS 1-2q$is9.
Bar silver. S. "a. Silver at the board,
CO 5-S466 rs.
Government bonds steady. State bonds
firm. Railroad bonds higher
The weekly statement OF the Associated
Banks shows the following changes: Re
serve. decrease. sl,0l9. 10; loans. increase.
S,l5l co. specie. increase. $l77,iC0; legal
tenders. decrease. SiiGWO: deposits. in
crease. s3,36l. 60. circulation. increase. ST.
Coz
The banks now hold $iO,9l7.175 in excess
Of legal requirements.
The New York Financier says: The
decrease OF $l017400 in the excess re-
serve carried by the Associated Banks is
a favorable feature Of the bank state
ment.
The changes in cash holdings are unim-
portant. the gain Of Sl77 40 in specie be-
ing more than cOunterbalanced by a
decrease of SAC 100 in legal tenders, max
ing the net loss for the week 1923 900
Had IL not been for the expansion In
loans. the reserve would have swelled
something like a million dollars. as the
net increase In deposits for the week was
ss.96l eco A large part of this gain UNI
doubtedly came from the interior move
ment, which is maintained in volume
larger than has been anticipated. Large
remittances have also been received from
some OF the eastern banks during the
week.
The increase in loans. coming imme-
aiately after the decrease Of rhe week pre-
yious. is not 10 be explained easily.
hut money-rates, in view OF the long
predicted advance, are very tempting. and
shrewd borrowers are quick TO take adj
vantage of an opportunity which may
nor occur again. The demand for re-
discounts from the West and South is
also increasing and some large sums have
been placed within the past few days. a
number Of banks having large connection
OF this kind report revival IN the uc-
mand, which has extended over two
weeks.
The Treasury, IL may be remarked. Is
r,enaring for the business which IL will
bs called upon to DO in the way OF trans
ferrins funds BY telegraph as they are
called for.
The rates for funds have shown no ma
tar,al change. although tie gold exports
have complicated the situation to some
axtent THE last Withdrawals OF funds
Win which 10 secure gold from the Trea
sury are not reflected in the statement
for the current week