The evening times., 1899-09-02

The stock market acted very much as
might have been expected today. II was
dull in an extraordinary way during the
first part of the day with Insignificant
changes in the price level and after the
bank statement ii strengthened somewhat,
closing in most stocks at or near the top
prices for the day, but still only fraction
ally away from the opening quotations. Ii
was generally conceded that the bank
statement would be poor one and it had
been pretty thoroughly discounted In the
selling of stocks yesterday. When the fig
ures of the statement appeared therefore
they reated no surprise, although 1t was
one of the worst issued in several weeks,
with large reductions in reserves and de-
posts. 1t caused no selling, but as has
been stated, was followed by an actual bet
terment of the market. There was little
fresh news. The yellow fever situation
was commented on in the gossip of the
Street, but information from the authori-
ties was all Of a most reassuring nature.
Ii seems certain that the fever will be pre-
vented from spreading and 1t may proba-
bly, be dismissed as a stock market fac
tor. Money was cheap again today. Rates
may be expected to harden somewhat dur
ing the month of September, but it is not
believed that this entirely logical sequence
will have much bad influence on the stock
market Booming of specialties that do
not deserve to attain higher prices may be
prevented, but If. as many believe, the i'm
portant interests of the Street intend to
inaugurate bull campaign in the near fu-
ture they will undoubtedly be able to do
So despite somewhat higher rates for call
money. The bank statement figures are
as follows: Reserves decreased, 3187, 275; /;
loans decreased, s3, 126, 800; specie decreas
ed, $4.287. 200: legals decreased, $685.. 400:
deposits decreased, sS,341, 300; circulation
increased, $22S, 400.
The grangers We're strong at somewhat
higher prices. all making small net gains
The July statements of these companies,
now all in, are uniformly the best ever
made. Nearly all of them have been is
sued during this week. They have not ad-
vanced the price of the granger shares,
but with the certainty now of large crop;
to continue the big records of earnings. it
cannot be doubted that they will be felt
later when the market generally is more
buoyant.
The Union Pacific issues were strong this
morning, and both made advances. Ru-
| mors of some development regarding the
common stock that will be a strong bull
argument for it were heard in the Street,
but nothing as to the nature of the forth
coming news was given out. Northern
Pacific, common, was sold off during the
| first hour Of the day, but later regained its
| lost ground. This stock, like Union Pa
! cific, common, is considered by conserva-
tive people to be one Of the best low priced
stocks on the list. If, as is whispered,
Mr.. Morgan is to be an active market fac
| tor in the coming month or two, it seems
entirely probable that this stock will be
taken up by him. =e,
Republic Iron and Steel, which has been
| commented on favorably in this column
| several times recently, was one of the fea-
lures of the market 1t advanced to 30 be-
fore the close on what looked like per-
sistent inside buying. The stock was sell
ing at % few days ago, when,it was listed
| by the exchange.
Tennessee Coal and Iron was another oi
| the steel and iron stocks conspicuous for it:
| strength and buoyancy. The. price ad-
| vanced to 80 IL before the close on fairly
heavy buying. This is what had been pre-
| dicted by the friends of the company anf
: 1t caused no surprise in well-informed