The times. [volume] (Richmond, Va.) 1890-1903, 1899-07-23
AN UNIMP0RTANT
STOCK MARKET.
Some English Interest Manifested in
American Securities.
INCREASE IN SURPLUS RESERVE,
shown by the Bank Statcment-High
Rate of Sterling Reserve Continues
Dealings i'm Bonds Dull-Cot-
ton and Other Markets

NEW YORK. July 22.-To-day STOCK
market Mas uuimportant, and even an
INSIGNIFICANT affair. LOnuOH man.. 49,
some continued interest Oh AIltl lD'ti -, ,
turitics. marking up prices latA'- ~,
the point reached on ihis alu'i cNs,,.'
fno o,,enlnr- ri.o The opening advance
hero quickly succumhcd 10 t"e 9sllb.
thttic influence OF "a Icacuon ~ ,sIHh.t'
which LOST something over point. lteaNl-
rces in "a foyy orncr industrials helped 20
hold back the market, but the pears "vIv
NO more disposed 90 operate than INC
bulls. and the market ,neld buspen.u,ou
near last nights level. Tho Danh state
mont brought q realizing movement
which carried prices off in some cases
apart frOm the rest, kock isldhd anu
few other stocks which nave Deeh koHs
up for several days past being most az
foctod. The offerings were aH Wen aD--
forbcd hy the shorts. quotations closed
not FAR from last nights close. Inc heaN-
mess prevailing had 10 DO with the
extreme lassltude of the trading. The
American Lnsccd oil and Iowa Central
stocks showed good advance IN prices,
and the Fort Worth and Denver CITY
first mortgage bonds rose 1M on the ac-
Qurcment of trackage rights between
Denver and Pueblo from the Atchison
ly the Colorado and Southern, which
controls the Texas road.
The bank statement showed the sur
plus reserve increased by reason OF a
contraction I'm loans as was expected, but
tho loss OF over a. million in cash was a
disappointment ln view of the low pre-
vailiug rates for money no interior ccn-
tres. II was expected that funds would
have 90 be- attracted 10 New York during
the week. but no such movement is re-
rected I'm tho bank statement
The continued high rate OF sterling OK
change causes some anxiety, as well as
heWildCTmeut. u view of the lower as
count rates I'm London and the marked
disposition of London 10 buy stocks nm
New York in the last few DAYS. Inc
sterling rates have only yielded frdc-
tion. and stul hoycrs within cent OF
the Eold-eXporting point
Dealings iu bonds have been dull ana
some issues fen away in prices, but
others moved upward ON active demand
United states BIS registered ana me $
advanced Is. and the ga As registered
= and do coupon - in The bid price.
The total sales of stocks were 1900
shares including the following. Atchi-
son preferred 7oo0 New York Central
1890; Reading FIRST preferred, 900; St.
Paul. GOO. sugar $500
MONEY AND Observation-Disclosures on
call nominally at 304 per cent; prime
mercantile paper 3aaiIa per cent Sterl
ing exchange steady with actual business
IN bankers bills at AS73.04 S7i3 for de-
mand and SASH a. sii2 for sixty DAYS
posted rates. S4SJ04 SIS anad s. SSa4 ~sl9.
commercial bills. Sisal2 silver certil-
Gates. GO1G. bar silver. G@s. Mexican
dollars. 4S state bonds inactive; railroad
bonds irregular. Government bonds irreg-
ular.
BANK STATEMENT weekly bank
statement shows the following changes
Surplus reserve. increase ......S 1,33b,SO
Loans, decreased ..... ....-... S'SSN,VD
Specie decrease ..... .......... 2,GG4.4Oo
legal tenders increase ........ l.ol5."o
Deposits. decrease ............. lZ,o-,i,otfJ
Circulation. decrease .......... 22.GO0
The banks now hold Steo55. COO in excess
Of the requirements OF the p per cent
TIIn.