The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-11-21

INONs ~.
The weekly statement of averages of the
Associated Banks shows an increase of nearly
$4,000. 900 in lawful money, four-ffths of it in
legal tenders. Tho character of the money
received. as well as the fact that there
have been no receipts of specie from
abroad this week. shows that the increase in
cash has resulted almost entirely from the re-
turn of money from the interior to this centre.
An increase OF nearly So 1000 900 in the loans
can logically be attributed to the financing
of the purchase Of the Union Pacific
Railroad property by the Reorganization Com.
mittee. The net result, an increase of nearly
81 $3.50, 900 in the surplus reserve, together with
the carefully considered programme that has
been arranged for the payments to the Govern
ment on account Of the Union Pacific purchase.
Is calculated to allay any fears that may have
existed that the financing Of that transaction
might disturb the money market. The banks
now hold in excess of their legal reserve nearly
$23, SEQ, 900.
The transactions on the Stock Exchange this
week have been the lightest In a long time.
In stocks the daily avera e has been
only 100000 shares and in bonds less than
81, 800, 900 par value. The market for tho
last named has been in the main strong.
and for stocks irregular. Tho net fluctuations
for the week can hardly be described as i'm.
portant. The only active stock that closes
materially higher than last Saturday is Sugar
Refining. Net declines, which are moro fire.
quent than advances, do not exceed ( actions
except In the cases Of Peoples Gas. Union Pa
cifc and Reading preferred. The trading has
been largely Of a professional character; still.
toward the end of the week, commission houses
appeared as moderate buyers. London remains
Indifferent, apparently waiting a definite lead
from this side.
Tod va mnrkaf waa aYpeaaivalv dull and In
the main heavy. Its professional character may
be inferred from the fact that brokers
on tho floor of the Exchange appeared
to take more interest in the foot
ball matches than in the limited deal
ings in securities. The important news Of the
day was the extraordinary falling off In the vol
ume of imports at this port for the week as COM
pared with last week. and also with the CORE.
spending week OF last year. The figures, which
are printed further on in this column. have a
two.fold bearing. They not only indicate o fall.
ing Off in the demand for remittances
to Europe, but also a decrease in the
revenue of the Government. Reluctance
to believe that efforts to bring about a
consolidation Of tho various local gas compa-
mics have encountered q serious obstacle In
the differences between the larger hold.
ers of their securities resulted in a not
advance Of more than 2 points In Con.
solidnted Gas. and also stimulated trading on
the curb in the shares of other companies at ad.
vancing. prices. Metropolitan Street Railway
was again unusually active and conspicuously
strong at a net advance of two points.
AS compared with the final prices OF last Sat.
urday the majority Of stocks are lower. The
more important net declines are in New Jersey
Central, 2 y cent; Union Pacific, ~; Reading
IA; Reading, /; Manhattan Railway and u. s,
Rubber, q each; General Electric, and Tonnes
see Coal and Iron, q each; Chicago, Great
Nashville and Pennsylvania Railroad i9 scent
each: Tho noteworthy advances are in u. 3.
Refining and New York, Susquehanna and
Western preferred. 17s each; Consolidated Gas
lbs; Pacific Mail. 81. and Texas Pacific u v cent
Final sales compare with those of yesterday al
follows: