The times. [volume] (Richmond, Va.) 1890-1903, 1900-09-23
MARKET ,DSED
ACT AND WEAK
Coalers, specaliies and Steel Show
Heaviest Losses.
LIGHT BUYING FOR LONDON
Bank statemen. seemed to Precipi-
iascs.enewcd selling, aud De-
crease in Loans EatI,cr
letter.
Coalers, Spec,aIties and Steel Show
LIGHT BUYING FOR LONDON
(By Associated Press.)


NEW YORK. Sept. 22.-Stocks weak
ened asresh to-day, and. after two hours
ot active trading. the market closed
aciiSe aIia weak, except Tor The lrEesu-
iarlty caused by shorts buying TO cover
An some OF the stocks which had been
most severely raided by the bears On!
IN tennessee Coal WAS the rally as IiiuGit
as a point, leaving Ii net loss OF Z points
IN that STOCK. The cpGlers, the hlsh-
priced Specialties and the steel STOCKS,
except the steel-raii makers, snow the
heaviest losses. The riotilg and blood,
shed in the anthracite mining region haa
u depressing influence ON the whole iSt,
and Reading issues were specially al,
iected on account OF the hope that mao
been INDUCED that Its mines would not
smut down, which is disappointed by yes
tesrday's cessation of work in that COM
pany's shafts
The light buying for London account
was entirely disregarded, and the slight
demand from bargain hunters, whicn
made Its appearance there was without
influence in checking liquidation. Stand
ara Stocks We're as much depressed as
stocks OF minor roads There were eN-
afnpies of a loss Of a point or over IN
the trunk lines, the southern group, the
southwestern, the Srangers, and the Ia
cities, Baltimore and Ohio and Louisville
and Nashville were conspicuous Tor
weakness.
The bank statement seemed to pre-
cipitate renewed selling. and the de-
crease in loans was rather better. The
loan contraction shows the extent that
genuine liquidation had been going on
in the stock market during the week. and
detracted materially from the assertions
that the selling had been mostly for
short account. It seems, also, that the
remittances in payment Of the German
Joan, which stiTened the exchange mar
ket early in the week, were arranged
market.
The movement of gold from the Bank
of England TO Germany, coupled with
a. dc for
strengthen the conviction that consid-
eribly higher money rates are inevitable.
The bond market has been only slight
" affected compared with stocks, but
LIQUIDATION has been in evidence there
also United States new Is coupon adj
vanced X and the old As II per cent. in
the bid price. The Us declined 4 per
cent.
Total sales of stocks to-day were $4,000
shares.
MONEY AND EXCHANGE.-Money on
call nominal: prime mercantile paper, AZ
6S:5h per cent. Sterling exchange steady,
with actual business in bankers bills at
81 S6s4 Oh 63s for demand and at s.. S3lls
for sixty days: posted rates. S4.S4@4 S4tis
and Sass: commercial bills. S4-S2A94 S22a4l-
Silver certificates, 62a4 G62& bar silver.
Goa: Mexican dollars, ASH. State bonds
easy: railroad bonds weak; Government
bonds firm.
WEEKLY BANK sTATEMENT.-The
weekly bank statement of the average
of the Associated Banks shows:
Loans, 1898 i41. 900: decrease, 50. 6S9. GOO
Deposits, SS97, All 800; decrease, S9,S73,-
400
Circulation, sc9,6G2, 400; increase, s1s4.-
Legal tenders, ss7,121, 400: decrease,
S3.95O. 200.
Specie. s17s.7as. 500: decrease. 50 500 600.
Reserve. $24O:92o,200; decrease. SS,f52,-
Reserve required. 1924 aae7 ,s75, decrease,
s2.4GS.35e