The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-16
y7NlHoI<L AVID COMMERCIAL.
HATuRDAY. Julv 10.

rather heavy. owing to the absence OF active
outside interest and the .ndisposition OF
professional traders to increase their ven
lures. After the statement appeared there
was moderate improvement In prices. result
ing chiefly from the closing Of short contracts
The final movement left Brooklyn Rapid
Transit. Sugar Refining. American Cotton Oil
common. and few ~ the lass active shares
materially higher than Yesterday. and the ma
jority OF the list fractionally higher. The bank
statement made fully us good showing AZ
those who have been cognizant OF local mone-
tary operations tha week had expected. Loans
have been reduced over $17.0OO.OO0 partly
by the repayment ~ obligations incurred
IN financing two or three large indus
trial combinations early In the month.
and also 10y tho transfer OF accom-
modations from the banks to their cor
respondents IN nearby cities. principally
Boston and Philadelphia As explained in this
column to-day institutions in those cities
having large balances with their correspond
ents here have loaned their funds direct or
through agents. The two operations have
obviously reduced the deposits to the same
amount as the loans that have been paid of less
the amount OF actual cash received by the
banks from the interior. II appears that those
receipts were approximately $l.S0O.OOO moro
than the amount absorbed by the Sub Treas
ury. The real improvement in tho local fnan-
Cial situation IL measured ny tnOse nRuTeb.
The increase in the surplus reserve results
chiefly from the decrease in deposits. which
change calls for over s3s0O.o00 less reserve
than a week ago. The net result more than
doubles the surplus Of last Saturday. bringing
that item up to nearly SO. 100000
Itr remains to be seen whether to- days bank
statement MARKS a turn in monetary conditions
at this centre In discussing that possibility
an unusual number OF factors must be taken
NnN@ alI 'ha ant pF thA
maturing crops will soon begin and It Is gem
orally conceded that the foreign demand for
breadstufs will be fully as great as In
previous years. Fortunately all interior seq
tions Of tho country we'll supplied with
money: hence the chances are that, as for sew
eral Gears past the demands upon New York
from the South and West for m oney to move the
crops to market will not be large enough to TN
settle our money market Fortunately. there 10
no large speculation in cereals to absorb money
or TO obstruct their free movement to Euro
pean consumers. An interesting feature OF
the situation Is the universal nrmncss OF
European money markets at a time when
European demands on our surplus supplies
OF breadstuiTs are likely to be heaviest.
Foreign bankers are alert to secure money
from each other and from this country.
Unfortunately for them the Spanish indemnity
has been paid and foreign liquidation Of for
eign holdings of American securities appears
to have run it's course. In consequence for
eign bankers exact as prompt payment as
possible OF every obligation incurred abroad
- ~ .... 80 ,,, ,tIa .i,.
-. ~, -. 49,, e..
,'1. - -, ,,,ana.,.tIo nna
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before the season is over Europe will be .
heavy borrower here through deferred
payments. Just as it was last year.
Euro,oon rr;rt ~ ,iovU 10 tho f,c, tbat tha
,a,,, ~, ,ha Jrt,od stot.a ha,s ,,nh
,a,ar I,,.,,, ~ loo, ,aar a. ,uo ,ha, ;r,,o,,,
.1,;,n ,.o.si,, H. ,.oI,,r ~ go.
IL,r -. ,,an. in,,o ,,o,, q. Ior,a coda ,or .or,.
.i,,,., o'.
r,,i,aI ~ ,noor,o.,on 4, .oorri,i.. l.. mr..
,ano,,,,r ha,I - ohn,, -, ,n,, o;,o,,n,a,onoa.
ro,nolv m. nonlitior y, RI. n,onsvm,rLet and
th, .,osn,,,tIn ,La.nca ,ron, husirsss ~ in
,,a,,,rs and wan, lor,, L.nIors In a.ouritio.
pric,s ara wolf maintained in snito n, this fact
md IN t,.. ,,ro If nerai.tsnt etrnrts 70 donrass
tho,, L.,o,,.s ~ ohyio,,slv eotisfoctorvo NON
di,in,, Of Lrair,.s y,naroIIv and nrosnacts That
=, ,,rI ,,,i,,o ,,,',, ~, rrooant Raj. d,r,na
tina r.m,inIer ~ tho va,r F,cent In Tho
po,io. Inr,hu,,s, ,h,, ,an1arov IN ,ha tron.
S.,',i,, in,,,.tnr 10 ,o-ard oloan- 40 -.
,.i,,,, aIo,io,, h.,,uoa, ol,.o,i.o
.nd o,nm.oting mnos Woraoror thars
-, l., " ,,.on;.;l, 800 a. 49,.
~ ,,,a,,,,o,, ., raonth. ,a,,,,o..,,., hnt sharh
no s,,,,r,I ,ror, tho imn,,,,s, ,n,ornto -,
.,t, L, 49,. 60, ,,,i., 49, ~.
ta,r -, i,,,uo,,o tho a,,oia,,,,, -, ~ Iii
.o,ta o,I ,,ini,,iv, ~, oa,t -, 1870,
.ha,, r. -. pootoo Nor,hwo.. ~. a..
t,nl,,,ont u,o,,on,ant a. aa,oraI ,,ort.n Ia
49, ,i - 49,, IT.. p,ie pau.- -
,,an, T., ,.ir,roII, aaoIrin, ahaoInt. 49,,
ot,h, n.o,,,,n panrooa a.I Sa,tr,attor 60
- 49, 49,, 49, - C
ha,'ahora, ,,,n, ,,,tn,I ,rith 49, 80 "a
80 , a., 1884,, p.ai,s Co. n
,,narant,,,i,,,, ,Ii,i,ta,b. ~ tho ua,ont ~
=, o,,,,,, No., n,,,,',, par.ooI a., $500
,o.,hatr, ,I IT,. p,aies ra,.'
So hro,,,ht ,t,,, ,ha ,tnIi.tan -, 49, go.
na,,.,h ,, Ta,,i,,,,i, 80, ~, 49,.
thrnnh ,tn ia',E M
I'D \ s,n,l 49, g., a,,ria ~
A." , ST.. i u.H pane p"''