New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-09-26
CLOSING PRICES or CHICAGO STOCKS.


The week IN the stock market ended with
values travelling toward lower level Wall
Street sentiment Developed a hearsh tone to-
day and. while II may change over Sunday.
present indications do not suggest il. There are
more bears In wall street ut the close Of busi-
ncss today than there hav" been since the up
ward movement in values began. and the change
I'm sentiment has been So rapid that the major
ity Of people are at loss - know what has
happened. Nothing has happened to the bust
ness situation ~ an adverse nature. In fact. the
end ~ the week shows that railroad earnings
are Increasing: that bank clearings are expand
ing: that exports OF grain and domestic mer-
chandise continue heavy; that the iron Industry
Is inproving and that encouraging proof Of in
dustrlal activity comes from all parts of the
country The question went the rounds to-day.
What Is the matter with stocks. week Oh
business growth ends with stock values !o"eI,
With traders selling Throughout; the Board room,
with sentiment growing bearish. The question IL
SLY answered There are more STOCKS offering
than bids: important market interests nave
Withdrawn temporarily from active speculation
and are not inclined 10 oppose further loss IN
values: many large operators are gong snort 81
stocks and for the moment the pubic Is de-
TERED from actiyc buying by higher money rates
and by tn" fea- Of stringent money. 1919 mar
ket interests apparently want to get stocks PACK
ot lower prices Certain interests which have
been abroad and are just back want To have a
share OF the profits which future rise VIII
bring. and for this reason they taVor lower
prices There has been "A gOod-sZed decline thls
week 40 one can say whether II VIII continue
ar he succeeded hy a rise nexc week No one
wants 10 venture prediction when the bears
have been so successful. but if sentiment among
the most influential trader on the Exchange re-
fleets the immediate course or the market the
direction must be downward
IL would seem that the housekeeping process
In the stock market had been pretty thorough
II. ltff tNh "a 90 h,a .,
opcrators' Intentions II ~ To go somewhat fur-
Their. The monetary sAuation Is not in favor
OF heavy speculation al present and 1t Is likely
that the bear element will continue 10 harp upon
Eight money yellow fever" and Cuban
crisis" next week and II the large financial in
tercsts show the same Indifference 10 the course
of values instanccd In to-days trading the
bears Will doubtless be successful
There were no especial features in to-day's
market. Bear Measure appeared TO be the
heaviest IN Rock Island. Manhattan and Omaha.
An average decline of lcilta per cent was made
IN the most active issues. There were occa-
sional feeble rallies but the closing was very
weak and unsettled. The weekly bank state
mcnt had no appreciate influence upon values
although the loss I'm surplus reserve was less
than had been expected. The loss In cash
holdings was S6..JlS.3OO made up by loss OF
SGyG1 100 In lcgal-tender notes and a gain OF
SsiC 100 in specie As was To be expected after
the advance in money rates and the shifting OF
loans In the week. the loan Item exhibited n
contraction, the decrease as compared with last
week being 81. I2S 300 Deposits decreased So.
CO.. 300 The result of all the changes was n
loss In surplus reserve Of S3S|I6IJ to SlJ,DI,-
200 against SiI2l6O2J this week n year ago
and So, 29 - in the same time in 1S9J The
percentage OF reserve 10 deposits is 30. only
- per cent above the legal requirement. or
the banks composing the Clearing House Asso
citation ten are below the legal reserve This
IS not a cause for uneasiness however as the
banks will soon he cffset by gold Imports and
I'm the imports already arranged for by two
hanks is an Indication Of the spirit Of New-York
bankers which prompts them. on the least sign
Of dwindling reserves To seek that protection
which their power and resources make possible
on every occasion. Dwindling reserves at this
centre represent industrial activity throughout
the country.
Prices for the last sales OF the principal active
stocks to-day compared with the final figures
Of Yesterday were as follows: