The San Francisco call., 1897-10-24
NEW YORK. NToCk MARkEr.

NEW YORK, Oct 23.-To-day's security mark ct
was intensely dun throug out. The Onlf business
done by protest. onal traders aud this included
some selling for foreign account some of the
selling represented the placing of short tracts
by bear traders. who argued that the danger Of
the Cuban insurrecton leading to strained rela-
lions with pain indie Ited that prices would de-
cline. The Sunday interval before trading Will
be resume made these dea ers cautious la their
ventures for fear of developments thai may
change the situation before Monday. The dispo-
sftion to restrict operations for short turns was
very obvious aud the only movement Of prices
seems to be due to professional manipulation. The
total sales less than sc, COO shares, a figure
lower than for any Saturday in months The
Crater part of these of shares of indus
trial spe iaiies, the railway list being decidedly
nege, ted
sugar disp' aged some strength during the day
and closed with small net gain Y ion Pa ilc
was weak on the doubt cast upon the success of
the reorganization plan by talk OF opposition
syndtrat-, which continues TO be talked OF IN an
Il-Cefined WAY.
Loss, are general, but reach point or over in
The increase OF the surplus reserve of the banks
Of $S. 29O, 200, even with the ,ega reserve point
raised Gy increa-e in deposits, was no counted
fayoraoe taclor In the stock market, though IL
naturally tends TO ease in the money markes aud
10 strengthen the positinn VI banks techn caiIy
The increase Ia the no dlngs of actual cash was
SS,62b,6UU, the gold arriving from Europe last
Friday ana eaturday being inclu ed Inc aui
daliop of loans in race of this easy conditIon
reached the large total OF SO 94l,6 10
. - ne "a OK movement 81 Inc grain crop has led
purpose, and he int Eruption OF the movement of
the cotton crop defers ne demand from that quar-
ter The release OF funds In Aew York, a. co l.
sequeD e Of this condition, has lie 10 ma Ike !
easing IN Lne money market, call loans peing
offeie ia bIndaaee at per cent, and in some
ases below that The money market is almost
plethoric, and the falling off in the demand for
funds is looked upon in Wall street as an ato
sc. her favorable indication OF the progress OF
business
Itis reported that movement is on foot among
New YORK banks rednce he Interest they pay
on The balances of out-oftown banks from 2 10 12
per cent This corditiUn of the domestic money
maske5 is ooufHe with sofnetlipg very Ike strin-
Zen. n the Berlin money market; owing 10 keen
activity In the Dusine and to stiffeblng OF rates
the London marA ct as result or efforts by the
BANK OF England to pfevent gold. coming TO The
United States These Efforts consis.e cd OF raising
the price of gold bars and of American eagles aud
o. borrowing largely with view To bringing ID
tne open market rate of discount to parity with
that or he bank. which remains at per cent.
ne open NJ arket rate in Lond on yesterday and
tp-oay haa about reached that point, and IL Is re-
por.ed tbat applications for loans are making 10
the BANK ltseIf The London rate OF DIS count has
crossed lhe New York rate and the disparity ten
10 increase SO hat the present movem, NJ If gold
n come TO a stop in spite of the heavy trade
balance IN favor Of this country. Exchange is b
ing allowed 10 accumulate at thi, center Ex-
Sha ge bankers sell demand sterling for fnture