The times. [volume] (Washington [D.C.]) 1897-1901, 1900-06-03

the number of important moves in this d.
rection that are soon TO be made.
The coming adjournment OF Congress.
The coming Republican convention, with
the nomination of President Mckinley to
succeed himself
And finally the fact that prices in nearly
all parts of the list are very much lower
than they were last year. while the short
interest is large and holders of securities
are confident.
Yesterdays bank statement was an ex-
cellent ore. though ii had very little in
fuence on the market as it had been e.
pected generally Money came in from tins
interior in large volume during the week,
and there was small balance in favor OF
the banks with the Sub-Treasury. The re-
suit was heavy increase in cash in the
statement. An increase of more than ST.
100000 in the loan account prevented
very large increase In the surplus reserve,
but the balance was on the right side. The
increase in the loan account was the cause
Of some comment. II is suggested that 1t
probably reflects renewed activity among
the pools and foreshadows even smarter
buying by them during the coming week.
The figures of the statement are as fol-
lows:
Reserves increased .........-..........S l.Sl09JO
Loans increased Observation-Disclosures. I.3i1,6OO
Specie increased Observation-Disclosures. 3,5lS,9U
Legals increased T G2S 100
Deposits increased Observation-Disclosures. II, 3i4. 200
Circulation increased ........... 49o,SJ0
Call money during the past week has
loaned at and at l 1-2 per cent. the
average being rs per cent probably
Time loans have ranged from per cent
for sixty and ninety days, to per cent
for six months or more There is every
prospect that the lowest rates will be
maintained during the coming weeks.
The week has been a notable one in
its monthly net earnings reports The re-
port of the Pennsylvania Railway, which
has the largest mileage of any railway in
the country, and is generally considered
to represent the condition Of the trans
portation interests with great accuracy,
was one of the best ever issued by the
company. The figures have been reviewed
in this column heretofore. The immen Sc
increase in the business of the Pennsyl-
vania during tn past four years may be
indicated from these figures giving the net
earnings of me lines directly operated east
of Pittsbarg and Erie: The net earnings
for April. 1896. were s1.336.S sos. and for
last April they were $2.141,20S, the gain
for the four years being more than so per
cent. Figures almost equally good might
be cited for the period since the begin
ming Of the year. A few of the statements
for the month have shown small decreases
compared with the immense April bust
ness Of last year. but their number is so
small as hat to be significant in any way.
Practically everywhere last years BUSH
ness is being exceeded.
The gross earnings statements for the
third week of May make quite as good
a showing. The roads SO far reporting,
sixty-six in number, earned sS,597, l3S
gross in the week The increases aggre-
gated ss2l. AIS. and the few decreases ag-
gregated S2S,315, SO that the balance Of in
creAse on the entire sixty-six lines was
100, CT 10.16 per cent.
One Of the interesting earnings state
ments received yesterday was that of the
Metropolitan Traction of New York, show
ing gross for May. The increase for the
month was 1913, and the increase for
the eleven months to May 81 was Sl.497, 037.
The net earnings of the Norfolk and West
ern for the month or April increased
s90.524. The net earnings of the Chicago
aand Alton for the same period increased
sl9,7ss. The Union Pacific shows an in
crease for the month of S2O1. 115. The
Chesapeake and Ohio net earnings for the
month increased s6S,S71.
The extent OF the gains made during the
week are shown in the following table,
giving closing prices on a number of i'm
portant securities yesterday and the clos
ing prices week ago: