Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-09-28
Unfavorable Bank Statement De-
pressed Stocks in New York.
DULLNESS WAS THE FEATURE
Better Feeling Predicted After
Money Eases Up.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, September 2S.-The evening
up of contracts over the triple holiday and
an absolute lack of new business We're the
ohiy features of todays stock market
Lonoon sent over moderately firm range
Oh prices and reported gradual relaxation
IN the tension of the Transvaal deadlock The
failure of the Bank of England to advance
Its discount rate under the combined infiu-
ences of war talk and gold exports was
most favorably construed. This evidence
of financial calm was largely Instrumental
in restoring confidence in certain skeptical
quarters of the local market.
During the opening hour prices were
given good support, but the publication of
the bank statement served to invite pro-
fessional selling about the room. This
selling was not attended with any substan-
tial evidences of success, and soon gave
way to the do-nothing policy naturally in
cident to the holidays.
The banks have lost 81. $40, $50 in lawful
money. mostly in specie, and loans have
been reduced STOP. 700. These changes are
rejected by a decrease of S13. 226 10 In
deposits, or about 81 200 600 more than Is
necessary to a legitimate and consistent
OFFSET of the changes first noted
The banks have lost during the four days
for which the report is made nearly twice
as much cash as was lost during the six
days last week. The surplus is decreased
81 $3.50, bringing that item down to
81, $50. This showing Is not desirable
but at the same time is not seriously re-
garded as an enduring influence
A moderate engagement of gold was made
In London today for shipment to this
country. and the total consignment of
S,W0,O0O for the week may arrive in time
to get into next weeks bank statement
The gold movement, while not of proper
tons as substantial as would be welcomed
at this juncture, is valuable contribution
to the corrective factors now working to-
ward the relief of the banks. The liquida-
ton of loans has proceeded very satisfac-
interior must very soon add materially to
the resources of the local banks.
The interest rate works well up in the
double figures, but the larger interests are
satisfied that time will supply the remedy
for all present difficulties without any ex-
raordinary or artificial means. In this
view several Of the larger commission
houses advising clients to be prepared
to take advantage of prices prior to the
liquidation of the present outstanding
short account.
There has been some good buying during
the week, but not of the sort which aims
at conspicuous operations. Aggressiveness
Will come later and viii be comprehensive
tr its results. The stocks most actively
sold will in all likelihood lead the advance.
The Ia elections may come into the Cos
SIP OF - room shortly, but values are not
likely 10 be influenced, except momentarily
on this account.
To convert the room from its present
pessimfstic condition would result in unu-
sual activity on the opposite side Of the the
market. The one bad feature upon which
the depressing party has relied has been
ught money, and one feature is not good
for continued success