Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-09-23
FINANCE AND TRADE
Sharp Break in Brooklyn Rapid
Transit Again.
WHOLE LIST WAS RATHER WEAK
Bank Statement Was Regarded as
UnfavorabIe.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, September 23.-The open,np
OF today's stock market was without spe-
cial feature. the expected irreguarity. in
cident to such market as has prevailed
curing the week, materializing early in the
Day. In many instances stocks were sup
piled rather freely and I'm a fsv tb,, do
mand was trifle better than the s1Ipply
commission houses did little and were
again inclined to advise caution while
traders We're given to small risks pending
the publication of the bank statement
during the second hour the room changed
'front.' suddenly in the matter of brooklyn
RAPID transit, the steady Offering of the
STOCK by large interests chilling yester-
DAY confidence in improving merit.
After being made to sell at ~ the stock
broke Sharply for a maximum decline of
Az per cent and closed under considerable
pressure.
The traction list generally shared in the
weakness, but in smaller degree than the
stock named. The railroad list as a whole.
reflected the sensitive condition which was
so plainly visible on the surface of the in
dustrial department.
The bank statement was construed to be
a favorable one, but the argument is far
from positive in character. The results at
tanned are such are achieved through
housekeeping, rather than through the more
tangible medium of increased cash hold
ingS.
Liabilities have been reduced somewhat
but resources have been depleted In about
equal degree. Not to have grown worse
during the week is the one item of salts
faction to be deducted from the weeks
banking operations. The banks have not
been stripped of a surplus reserve simply
because the lining of the old garment il
1eIl. Inc attractive features Of 7 no
pleted garment still lacking de-
crease in deposits amounting to 500. 1913 0lo
Allows Tor very considerable increase in
reserve liability, So,6SS, 80 being added to
the meager S250,o00 left at the close of last
week.
This decrease in deposits is offset by a de-
81 ease a OF vi, s66."o in loans and loss OF
$2ooo,ooo In cash. The decrease in loans re-
nects the extensive liquidation of the past
Week. but 1t does not necessarily mean that
the local loan account and individual re-
sponsibliity have been curtailed to that ex-
tent The trust companies and the private
bankers. foreign as well as local make no
returns at the end of the week and thu
street is forced back to the old weather
Fane, the prevailing interest rate for its
actual reflection of conditions This rate Is
not alarming, but 1t suggests a good de-
mand for money, the possibility of a fur
ther shifting of loans and a further period
OF waiting before the market can be given
its head. o.
The associated banks have no more cash
anu .ne amount or money available for new
undertakings has not been increased
traders bought few stocks expecting
the negative good in this exhibit to at
tract outside buying on Monday In the
commission house district there is a tend
ehcy to prepare for higher and broader
market later on, but this in some in
stances. means a closing out of old CON
tracts. The belief is apparent on all sides
mat higher market is being slowly evolv-
ed from the present irregular condition
but there Is no desire and no need of haste
Inc holidays next week do not make il
an especially opportune period for new I'M
dertakfngs on any considerable scale