The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-03-06

March 8.

The weakly statement of averages Of the
Associated Banks shows some unusually inter
sstine changes. In ths nrst place, the banks
have lost nearly 100000 in lawful money.
A part Of this has gone to the interior and the
remainder to the Sub-Treasury. The pay
ments TO the sub.Treasury have been chiefly
on account Of the purchase Of the
Union and Kansas Pacific railways by the
Reorganization COMMITTEES. The remittances to
the interior are those that are usually made at
this time OF the year. A decrease Of over 1919
millions in the loans has been entirely volun.
tary, and has probably resulted chiefly from the
ourtailment Of speculative ventures In stocks
and in staple commodities on account Of
the uncertainty caused by the so-called
Cuban situation. These two changes cali
for . decrease in the deposits OF over
02l, 900. 900. and the fact that the decrease In
that item 10 . million and n half larger than
that amount is not important, since tho state
ment 10 rarely absolutely consistent. The de-
crease in deposits 10 the largest since the Clear
ing House was established. Tho net result Of
the transactions through tho Clearing House
this week 10 . decrease Of moro than 49, 900. 900
n the surplus reserve. bringing that item down
- go. 1923, 800.
To-day's stock market was fairly active and
n was also weak practically from start to finish.
There was no news affecting values, but the
preparations for defence, both by this coun-
try and Spain. intensified the uneasy feel.
ing that has prevailed for some time
past. Tho market Is vuineraolo because IL
lacks the substantial support from LONDON
and from local investment buyers that II en-.
5oyed ct the extreme decline last week, ana
also because brokers as q rule are reluctant N
advise or encourage purchases penang inc
unsettled condition ofarairs between the United
States and spain. Operators Tor snort account
ara keenly nliyo TO these circumstances, and
though they are neither powerful nor resource
ful In their operations. they are aoie TO
rive direction TO the market from time TO
time up 10 . certain point. Inc heeVi-
est trading to-day. as Tor some time past.
was In sugar hennlne, "hicn' AZ q recovery OF
nearly Q point from the lowest price' oloseo only
naouonaiiy io"er IMAM sosteroas' INC no''
Important movement wosin Union Faoino pre-.
ferred' Whicn sustained turtner etiossof1%S
cent, mekins q net aeoiine OF nearly -FOUR poihte
within the last Two days Inere was no news ar
teotne inc Vaiue oi.nis seoority enoit"ey more
fore DO assumed thet inc ooohne mas resulted
largely from the nouidation OF recent ehthuelas'
ITO purchases OF tno stock' Ahotnor noto"ortny
weak stook was manhattan faii"ey' "hich soio
down 70 lol, out subsequently recovered ~
pointe at tho oiose' reducing Inc not ooeiine 10
Nv cent. Throughout Inc roheinoer Oh inc
iist tne net iosses were n tne man iractionei.
AZ was inc case yesterday tnero was moaor@te
iouidatioh Oh speculative accounts anu ALSO ~.
Gres'ive oeerish operations tnet Always attend
euon hquioatioh.
inc weekly traue reports nro In markeo CON
trast the ooursoo i tno BLOCK marAe.' theJ
tenot,n largo "nu increasing 'oiuho VI BUSINESS
ana etuitner ea,ance n lhe prioe' . l s'apie
oommooi.es. oehk ciearances ior inc week
arc 70 cent. larger IMAM IN 1917 90 y
ceh. larger tnah ios tho eorreSpohuihs
week OF last year ana nearly oo v cent.
larger tnSh 1or Inc ooFresponaihR weok lass
month. Notwithstanding an unfortunate and
unnecessary reduction in rates. particularly in
tho Northwest. railway traffic returns for Feb
ruary are nearly 4 y cent. larger than in 1892.
Enpt.bound tonnage from Chicago ia abnor-
vii, 1.ra. nortIv IN account ~ n. ,htn.
meiy largo purity u account Vi INC snip
export. Tho production of pig iron is
the largest ever known. and tho prices
Oh mAnulacturea prooucts OIL IRON arc ieir'y "eii
m.n,s busin.s. =, heinz don. and thst ~. on,,
check upon investment and speculative buying