The times. [volume] (Richmond, Va.) 1890-1903, 1899-10-08
STOCK TRADERS
TOOK DAY OFF
Yacht Race Attractions Greater Than
the Stock Exchange,
MARKET'SCLOSE WAS IRREGULAR
prIces Moving Narrowly, Save in a
Few Industriais-Bank Statement
Not so Favorable rs Expected
Aaer Dewey Week.

NEW YORK. oct. THE stock mar
lot was much neglected to-day, the yacht
race proving the greater attraction Prices
moved narrowly, except m rev ihdus,
trials. and the small room-Iaders ha9
the market all 10 themselves. They bid
an prices after the opening IN eNpecla-
ton OF favorable bank statement. frlces
declined when the statement dpbcdIcu,
but there was no urgent nquiuauoh' anu
the bidding up Of Louisville 10 point
over last nights close steadied the mar
ket The closing was rather irregular
Attempts 10 sun further depress BROOK
lyn Transit met with resistance, ana the
stock gains a point net. changes sener-
ally are very small and narrow Out lhe
majority are gains.
Tie bank statement failed 90 show the
large relief as result or expenditures
hy visitors 70 the Dewey ceiebrati0n,
which had been much harpcd on by spec
,,lotors All the week. Not more than a
million dollars offset 10 the drain TO the
interior and 20 the Sub-Treasury can be
detected from the bank statement. Ihe
reduction fn the reserve requirements by
reducing loans s. 90. 400 was not SUM-
Client to Offset the loss in cash, and the
surplus falls 10 S6i32O0 -.
To-days Clearing House statement
shows the Sub-Treasury a debtor 10 that
institution for 2.09l3eo. Coupled Win
the receipt of gold by to-days incoming
steamers. this had the effect OF counter
acting 20 a slight extent the unfavoraDle
Bonds have been dull. and have moved
in sympathy with stocks during the week.
1-nifcd states 2's declined :. new s
X. IS H. and old As registered i IN the
Tbs total sales OF stocks to-day were
1890 shares. including Aicn nlI,,. M
ferred. 1850. Louisville and NashElHs'
10 as. Southern Pacific 1870; ST Faul,
g a4O. BrookIvn Rapid Transit. 1o,i19'
American Tobacco, 800; Cotton Ol'
$50: Sugar. 1900.
MONEY AND ENCHANGE.-Money on
call easier at 4gdJ per cent last iodh
nj AZ Der cent: prime mercantile paper
5ig0rg per cent Sterling eNchdnke ~ IN,
with actual business ~ bankers DIS rs, az az
q S.iL14 ssh for demand ana AT S4Sl4H
4 S11. for sixty days, posted rates, Sto-1
81 and 81 SGia04.SI; commercial Dllis'
81 SOL Silver certificates, JolSJ, DSl sI1-
YER. IS; Mexican dollars, a. state oohas
inactive: railroad BONDS irregular Wv
eminent bonds weak
RANK sTATEMENT-The weekly bank
statement shows the following changes:
Surplus reserve. decrease .......Sl Vsl 80 80
Loans, decrease ....--+.-.....s. ooJo 49, "
Specie decrease ........ .''.''' 9'4o''v 20
Legal tenders increased ........ 3JI'sUV
Deposits decrease ...... ..-.''' 4'zv5'fVV J
Circulation. Increase ......-..... 0lt'Jpp
The banks now hold Sb43,@oO IN excess
Of the legal requirement
The changes in the statement OF the
Associated Banks of New YORK for the
week ending October 1th were not rs
marked as had been anuclpaleu. III
stead OF an average loss i'm loans OF nearly
seven millions and decrease OF zen
millions i'm deposits as shown IN the To-
calls extending over the last twelve weeks
the banks contracted loans Tor the cur
rent week only $500 200. and deposits
81 gO5 400 As The banks have lost about
Sl29 100000 in deposits ana SSouoO,oO0 IN
loans from the high point attained il
Juno. there IS some ground for the Deliel
that the period of excessive liquidation
is at au end still the demand for cash
for interior requirements continues heavy
while the banks seem unable 10 recoup
their resources from usual available quar-
tiers. The gold engaged IN LONDON dotS
not count IN the present statement al
though receipts from one or two other
Quarters are included. The receipts OF
gold on Saturday alone were over 500
goo The great difficulty experienced this
fan I'm financing the crop movement can
be traced 10 the losses which the banks
have sustained 10 the Treasury ana the
elOwness of the Continent 10 respond by
exports Of gold 10 the usual incentive ol
rising rates of the interior Conservative
opinion favors the statement that the
tide must turn soon, and that the gem
eral situation viii improve, but there are
bankers i'm New York who assert that
even though the interior movement ceases
soon the flow of money TO this centre
again viii be much slower than usual,
since business requirements warrant its
continued employment elsewhere. The
grain and cotton exports from now on
Will be a factor not to be ignored, and
81 IS difficult TO see how the shipment Of
gold this way is to be averted, even under
the strain Of untoward circumstances
abroad. AS II g., the banks here are
carrying a double burden and as liqui-
dalton has been carried to an extreme
change soon. The operations of one bank
account In large part for current de-
creascs. The gain I'm legals doubtless
represents the heavy payments into the
banks following the holidays The appa-
rent reserve over requirements is at pres
ent only SG43 900 but this OF course. is
exclusive OF the two millions of gold re-
ceived Saturday as stated. but not in
ciuded- in the average.