Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-02-10
FINANCE AND TRADE
A Bear Sentiment Still Dominates the
Stock Exchange.
LONDON Was WEAK ON War NEWS
Some Peculiar Figures in the
Bank Statement
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, February l0.-The new, N,
further repuise to the British forces in
South Africa had little influence on prices
in either market this morning. London
was depressed for a time but closing prices
oaoied to this side rejected q general re-
eovery. Ths holiday on Monday made
some rather mixed business, accounts be-
ing closed over that period.
Inc passage of the currency bill IN al
most certain of substantial reflection In
prices, but the effect may not be immeai-
ate Inc desire to realize is so pronounced
in certain quarters that any good news
may be depended upon to bring out stocks.
Traders see little ENCOURAGEMENT In the
long account, and are rather free sellers
whenever the market seems equal to ah
sorbing their offerings. Strong buying of
the specialt!es has been noted from time 20
time during the week. but the professional
element Is inclined to the opinion that the
trunk Line wages are being used merely az
point. e
The usual traditional argument. that pres
ioenuaI years are years Of depression IA al
| ready heard, and In a few instances, ,rsr,-
arations are already in progress LOOKING r.
proper utilizing OF political dIfferancas
IN majority of instances however The
beiief is expressed that no material raacs
tion can be accomplished prior 10 an sd-
vance which will admit of unloading sur
plus holdings. SUI
80 nearly unanimous Is this view that
the rush to act upon IL insures a brief
reign Tor the predicted buoyancy
Inc currency movement during the week
mas peen interesting in view of the further
lnroads being made by the subtreasury.s
operations with banks. Notwithstanding
ehat the banks began the month with =
considerable credit on account OF so,serr-
ment interest disbursements, they show an
actual loss to the subtreasury al the cIoss
of the week " -'o's
quite uhexpe ctedly. however the interior
movement has allowed the banks TO make
a net gain OF N,74S,700 in lawful money, All
IN specie. The most surprising feature OF
NE pank statement, however. is the gain
ot 81, i32,4b in loans. This TRANSACTION
cannot De satisfactorily explained i'm view
OF the known liquidation of securities dur.
ing the week. By some The theory that tba
money was borrowed in The hope of unset
tilng prices is advanced. and the Increase
or sls,S69,eOO in the deposits is offered IN
justification. of this view
1t would seem to reflect Soma s,,o,,,
transaction and IL Is not unlikely that tha
recent underwriting of certain bond issues
may be responsible. In any event the in
crease In deposits calls for large reserve
ana the surplus reserve fund is copSa
quently reduced S2,913. 100 bringing the
lotal surplus in excess of the legal require
ments down to So, Sg7,515
ihe money market has not been disturbed
70 any appreciable degree by the weeks
borrowing, but it is to be expected that tbs
surplus holdings of the banks will tend TO-
ward reduction during the balance of IN.
current quarter.