The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-09-26

port movement. There Is feeling that
the reaction is a healthy one and was,
in fact, overdue. 1t mas served 10 shake
out any weakly margined holdings OF
stocks and has left them in possession
Of holders less likely 70 succumb TO
casual reaction. II was said, Also that
the advance in price had rather more
than discounted the improvement in
business and the increase in the earn
ingS OF the railroads, a bic evidence
Of which was afforded by the increase
during the week Of the Rock Island div
idend from a 2 to a per cent basis.
Thel efore, with all the news continuing
to reflect improvement of business, an
the elements in Wall street have prac-
tically acquiesced in the reaction or have
interposed no strenuous resistance to It.
The declines range all the way from
three 10 five points in the most active
stocks and Consolidated Gas has declin-
ed II 1-2 per cent.
The total sales OF stocks today were
247,540 shares.
The railway bond market has been
less active. and only the speculative Is
sues showed any marked sympathy with
the decline in stocks.
Government bonds were firm; new
fours registered and coupon I25 IL; tours
Ill 3-4, coupon 113 1-2; fives registered
and coupon ia 1-2; Pacific skies of '9S,
l02.
FOREIGN STOCK MARKETS.
New York. Sept. 25.-The Evening
Posts London financial cablegram says:
The stock markets were quiet and
featureless today. pending the settle
dertone, however. Americans. after a
fat opening on the New York lead. rail-
lied considerably a the close
LOANS AND EXCHANGE.
New York, Sept 25.-Noon: Money on
call nominally 21-263 per cent; prime
mercantile paper 41-i65 per cent. Ster-
ling exchange steady With actual busi-
ness i'll bankers bills at 81. SIS IA less 1-32
for demand and al 81 SO ga less 1-32 for
sixty days. Posted rates 81. S304. "a and
81. SIS 1901 IS L. Commercial bills
Si.S1. Bar silver Sc ga cents. Mexican
dollars AZ IS cents.
THE BAN KSTATEMENT.
New York, Sept. 25.-The weekly bank
statement shows the following changes:
Surplus reserve, decrease s., SS7, 675;
loans. decrease 50, 72S, 800; specie, increase
SCI. 400; legal tenders. decrease $s614.700;
deposits, decrease s1O.6 500. 800: circula ton
increase 500, geo. The banks now hold
SIS, 997 500 in excess Of the requirement
Of the . per cent rule.
New York, Sept. 25.-Ths Fnancier
says this week:
The statement OF the New York banks
showed. as had been anticipated, a
heavy loss in cash and shrinkage Of
the reserve to the loves: poin, recorded
since November last. With gold imports
beginning, the impression prevails that
the banks will be fully able TO meet all
demands made upon them. The ad
vance in the money market has evident
~ brought about some liquidation. II is
not noticeable, however, that the opera
lions Of the bank. the National City. ac-
count for the total change in loans. SO.
also. its deposit changes make up at
leaS. one-third Of the entire decrease re-
ported by all the banks. The cash with
drawn all went to the interior. TIE
statement does not balance, but the
plain Interpretation is that the demand
for money for crop purposes IS a. rs
full height. and may be expected 70 con-
tinue for some time - come. l. will not
be surprising il the loan item exhibits
further decreases in view OF the urgent
demand from the south and west. The
decrease in loans for the present week is
the first ina: has occurred since the
opening week in MAY, since which time
the expansion has reached a total Of
81 .o0o. 900. Seven of the New York banks
are below the . per cent reserve re-
cuiremen. and a large number Of the
other institutions are only slightly above
L. The future Of the money market
rests largely. OF course. on the extent or
gold Imports The treasury deficit will
help the banks 20 some extent, which
Will take a large sum from the open
market. L Is estimated thai the foreign
trade balance in our favor for the three
months ending September 50. viii no; be
less than S140, 900 600, ana this with cot
ton exports only beginning. The re-
sources which the country can command
in case OF a sudden hardening in the
money market are thus enormous. Even
With the continued usa OF funds % msec
the immense expansion OF trade a. in
terror points. the outlook remains cheer
ful for legitimate business enterprises
TREASURY STATEMENT.
Washington. Sept. s5.-Today's state
men; OF the condition - the treasury
shows: Available cash balance se15,lt2.-
IA; gold reserve $40, 951. oS6.