The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-09

btlouer corn. .......... So 3S3s
December cotton. s.3g 81.
January cotton, ---....,-..-......... S.41 Gil
The bank statement issued yesterday
was an interesting document for several
reasons. II showed decrease in cash
and larger decrease in surplus reserves
but fer this period of the pear and con
sidering the previous recent statements
1t is acknowledged to be very good
statement, nevertheless. The figures are
as follows:
Reserves decreased. 81 O22. 225
Leans increased ........................ 1oj9,OJ0
Specie increased - 2S27530
Lessls decreased. ......... III 600
Deposits increased .......... . 7gi 500
circulation increased .......,.......... 20I, 100
The figures show that the calls for mon
ey from the interior for the movement of
the grain and cotton crops have at last
peSun and that they now exceed in small
way the gains from the Sub-Treasury The
| movement of money to the interior has
been delayed this season because the in
terror IS more than usually well supplied
with funds of its own. The farmers them
selves are better fixed and the interior
banks have good cash balances available
| For these same reasons financial men do
not expect that the calls for the move
ment OF the crops will be as large as usual
this year 1t is now said that there will
net likely be any further shipments of
! gold to Europe for some time to come Re-
celpts from Alaska and Australia continue.
On the whole the position of the New York
| banks is especially good.-This is one thing
that Will be large help to the bulls when
! they begln their campaign. Call money
loaned Yesterday for l per cent an I'M
heard of rate before the present season.
and especially remarkable in the second
week OF September
1t should not be inferred by any means !,
mat the election of Mr.. Bryan will mean a
stump in prices this winter 1t is rue
tnat a very large percentage OF Wall Street
is hoping for Mr. McKinIey's reelection
Even this probably is more apparent than
aetual: Inc expressions of opinion heard
from DAY TO day are for the most part from,
the 'hshtweights" among the market
people Inc matter of Importance to in
Festors, however, is not what the market
leaders nope for. but what they intend to
co IL their hopes are not realized. There
IS excellent evidence. as has been pointed
out that these people are preparing for
doom Ihey are buying stocks. They are
even manipulating to keep prices down
while they buy. They are arranging Their
railway deals. They are buying coal
lands. They are putting their money into
the steel and iron companies A great
many people in Wall Street and ouisi6a ;
New York are keeping out of the market !
% account OF the fear Of the effect of Mr., {
Sryan' S election. There is likely TO he !
,urpflse for these people if the Democrats :
win. as
Inc PAST week has added a number of :
POINTERS on the prosperity of the rail-
ways numerous July statements have !
'eeh pubiished and some annual state
hents OF important railways. The gross
returns for the last week of An :
, oaa are nearly all IN II is perhaps need 1
80 70 say mat all OF these reports Of t
afnlngs have been good They been nbe- +
omenally good and entirely surprising IN :
ne people that have put faith in tho .
reductions OF the bear news agencies ana !,
hanclal writer's. The annual reports ia a
ued Yesterday by the New York Cen E
raj, the St Paul, and the Nc,folk and n
Western are perhaps the most important Il
the week Briefly speaking, the New "
erh central increased its gross earnings
''9oo,uUo ana It's net earnings 81, 800, 900;
increased its dividend payments 81 e,
10000 and added 81 600 600 to ito brIoiro F.
roht and loss surplus. The Norfolk and fa
estern increased its gross earnings 90 a,
'f,oU0 and its net earnings 81 700 0no. I. bt
III *z'oOUUO0 into a betterment fund and / II
az remaining $4,000 to add to its sur al
us; its surplus after the preferred dfyi- to
END and before the payment into tho of
Improvement fund was nearly 4 per cent We
me common stock. The St Paul earned W,
-'VVo'Voo gross, an increase of 81, 500 600. at
earned S13.5Oo 600 net, a d decrease y; mr. mr.
uV,uVU; It's balance after all charges was BIZ
'VuoOoo' which provides the per cent re
Fldend Tor the preferred stock and wi
ayes 30 per cent earned on the cor, / III
on stock. The ST. Paul statement is
e least satisfactory of the three. hut
cannot be called unsatisfactory. only II
comparison with the previous wear fol
lieh was by far the best in the entire an
story of the system. tn
The following significant statement is mc
sde by the New York Central renort oh
garding the purchases of the stocks of raj
her lines: THE board of directors has ae
nsidered it TO be for the best interests ON,
this company that 1t should become da,
areholder in certain railway eompanies COZ
erating between the Atlantic seaboard he
the Mississippi River With the an ne.
oval OF the board, therefore there haye
en- made from time to time purchases of {
stock of the Lake Erie and Western am
ilroad Company, the Cleveland Cincin rec
u, and Chicago, and the Chesapeake and to
10 Railway Company" - goc
I IS not often that the MANAGEMENT of che
important "A railway system takes tbs.
IN iito us confluence IN this way /
ere will be those that Will infer from
ase disclosures, made with such appar- WI
iankness, that there are far larger
ms still undisclosed. Through the
rchase of capital stock mentioned Ly B
report, the total mileage of railway dav
ned and controlled by the New York Ut,
ntral has been largely increased dur :.
the year and is now 1921 miles
is does not include the company's half Sou
crest in the Chesapeake and Ohio. ket
he aoo,.u..,.- ing
- - 60, 80. Vl VI d per cent dividend No.
e on Sugar common stock early In the aho
tx was surprise TO the entire street In, 6
ause /. was made so soon and not be- 81
5e the trust has been expected to re- q
let its stockholders indefinitely to a The
er cent rate. The company is known tire
be earning more than it ever did be- rein
E and II is expected shrewdIy by some [ Veil
lpetent people that the sugar war is ouie
7 Tor good and all Sugar stock has veil,
unusually quiet during the week. W
II mas made slight net advance. 70 B.
ne steel securities have been among t siei
more active during the week and their -, -
iehcy has been upward. 1t is believed ", "9i -
careful people that there is steady ~, ~ o
lmuiation of these stocks by the In. ~
RS and that they viii be among fine ~ 70
{ buoyant during the coming bun cam 2 2ept
IN. The steel trade is improvjng a '9c
dlly according to the trade reviews con !
'me care viii be exercised by spec,,- We
rs with regard to the coal stocks dur Cash
the coming few days. Ii is not in the DIG