The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-11-19
BANK DEFICIT CUT.
Market Holds Steady
With Little
Feature.
TRADING LACKS INTEREST.
U. S. Oil to Issue New
Stock-News and
Notes,
TRADING LACKS INTEREST.

~ r
The expected happened in the show
Sng made by the weekly statement of
New York clearing house bank aver
ages.
There is a lessening of the deficit I'M
der reserve requirements of nearly two
and one-half millions, almost extin-
gushing the deficit and bringing the
banks back again above the laws de-
mands In the preceding four years
there has been an average surplus or
excess of reserve above the required
% per cent of liability, of $22,0O0o00.
This week the banks lost SO, 600, 900 more
in deposits, reducing reserve require
ment by $2,000,000. and they make
net gain Of almost half a million on
lawful money reserve held. Loans are
contracted to substantially greater ex-
tent than the loss in deposits, so the
statement undoubtedly is a good one;
1t shows that the corner is turned and
rehabilitation Of reserve is in progress.
The loans now are $4,000, 900 less than
a year ago at this time, but deposits
are $5o,000,0o0 less while actual hold
1ngs oftreserVe-specie and legal tenders
are thirty millions less. Saturday is
not much of day in the loan market,
but the call rate was quoted down to
per cent in Wall street and the week
ends with decided relief as to the money
market position and outlook, even if Of
ferings of bonds under the govern
ment's offer to purchase have been
light.
The street has received the assurance
that the government stands ready to
prevent any serious stringeney in funds
at, this season of active demand and
this assurance satisfies. The effect on
the stock market Of the materially ca
sier monetary situation. and outlook has
was any net change in prices as the
result of today's trading, the week
shows net advance of az in the ave-
rage of leading stocks, and the ave-
rage now is scarcely more than three
points under the years highest, back
in the spring. Yesterday saw the US
lal Saturday inactivity, awaiting the
bank statement and some measure of
profit taking in final dealings, after the
figures were made public. Sugar was
conspicuous, rising IA, with partial re-
cession, while Brooklyn Transit Pacific
Mail and c., B. & Q. were prominent
for firmness. Trading lacked interest,
however; it was quiet, and the market
certainly held well. In Boston there
was lessened interest also; the mining
shares generally maintained yesterdays
gains, but volume of business was re-
strieted and very little feature was
shown. United States Oil shaded off
Y, to Is, and United States Mining q,
to 1885, otherwise price changes do not
call for special mention
The New York stock market opened
irregular, Atchison preferred 66 1-2, c.
B. g. @. 1874 Ia Continental Tobacco
4S Ia, Federal Steel SO, Leather %, Lea
ther preferred 50 1-8, Manhattan 1o5 IA
Missouri Pacific 40 1-s, Brooklyn Tran
sit IS 5-S, Northern Pacific IS ga, Peo-
pies Gas 113 rs, Sugar 1853 1-2 st.
Paul l2e IL, Southern preferred 81 1-2,
Tennessee Coal & Iron 116, Tobacco 11e,
Union Pacific so Is Dealings in stocks
at the opening were distributed widely,
but changes in prices were very small
and much mixed. Baltimore &, Ohio pre-
forred rose 5-S which was the widest
change in the market.
Liquidation in Southern Pacific and
Tobacco was on a large scale and de-
pressed them 1Q1 IL Other shares
Were not Influenced and gained some
what owing to the confident buying Of
Baltimore & Ohio and a point rise in
Sugar. Towards IL o'clock prices adj
Vanoed strongly in various points of the
list, Manhattan, Brooklyn Transit, Lead
preferred, st. Louis and San Francisco
first preferred and Smelling preferred
being conspicuous. There was a rise of
5-S in Glucose and of a point in
number Of industrials. Minneapolis &
st. Louis preferred advanced ga and
common stock Ia Meantime realizing
in Sugar and Baltimore & Ohio pre-
ferred carried them off point from
the best The market hardened on the
appearance of the bank statement and
then eased off on realizing. The closing
was active and easy at small net
changes.
The following quotations were made
ousthe Boston exchange yesterday on
stocks held in Worcester and vicinity:
r O 8 IT q g II q q X &