Evening star., 1898-09-17
Restrictive Conditions Prevailed ana
Some Profits Were Taken.
MONEYS INFLUENCE WANING FAST
Recognized B. and o. May Be.
come an Important Factor.
GENERAL MARKET REPORT
Special Dispatch to The Evening Star

Special Dispatch TO The Evening Star
NEW YORK. September l7.-Fears of an
other bad bank statement had a tendency
TO restrict trading this morning and TO en-
courage some profit-taking about the room
Inc weekly operations at the subtreasury
nave cost the banks upward of $1,000, 600
IN cash, and interior demands have been
about one-half OF this amount A small
gam In specie was recorded from this
source, but the loan account could not he
approximated until the publication of the
full statement
Ihe course of prices. while Influenced by
the prospect of further decrease in re-
serve, was on the whole very encouraging
IN View of the recent advance The ,,.rinI
of decreased reserves is now generally he
lieved to be approaching the end. The in,
How OF gold from Europe is likely to he
come a factor, and it would not be surpris-
ing to see the money market disappear en-
tirely as disturbing factor in Wall street
Several very important undertakings are
now nearing the stage at which the rublic
may be taken into the confidence of those
in charge of the details.
Inc constant negotiations between the
warning factions in the Tobacco trade. seem
i'keiy to develop into something positive
during the next few sweeks. The settle
ment of this CONTROVERSY will, in all proba-
bility, be followed by a sharp and con-
tinued advance in the shares of the Ameri-
can Company. The original predictions
were that the stock would sell at l15. but
IN view or recent earnings an even higher
level Is now predicted, contingent on the
success Of present arguments
Ihe new Baltimore and Ohio securities
stocks and bonds. are likely to become i'm
nf ha foil
stock market. New interests have bought
round amounts of the stock of late and il
Is somewhat significant that these interests
are mainly men of experience in railway
matters
As the result of this fact nearly all the
larger railroads, east and west which
could by any device use the lines of ths
baltimore and Ohio. have been credited
with buying or seeking to buy con-
troll. While policy of liberal trackaee
agreements is likely, il will probably be
found that the individuals buying this stock
nave bought primarily for individual profit
ana not for the benefit of a corporation
with which they have had previous rela-
tions.
Northern Pacific common is likely to ad-
vance with the general market and should
sen al ~ between now and the time il be-
gins dividends
There is nothing now in sight TO retara
me advance OF the general market ex-
cept such capital as the bear party may
'Nt Vi tAlt CONGRESSIONAL elections.
The prosperity of the country is suffirisntr,.
substantial TO limit the influences of ON
year elections TO minimum proportions.
Inc net changes in the bank statement
az rehected below are considerably better
tEan were anticipated earlier in the day
feduclng the reserve to S4.24n.vOO instead of
eliminating 1t, as was at one time feared
Inc loans decreased ST. l35 800 Lawful
money mas decreased SISuo,u0 and deposits
something over l9,S0.OOO. Circulation has
increased S549.4o, and this item may be-
CO me a feature of future statements To the
great help Of the money rate