The sun. [volume] (New York [N.Y.]) 1833-1916, 1900-08-18
THE SUN, SATURDAY, AUGUST is, 1900.
FINANCIAL AND COMMERCIAL.

FRIDAY, Aug. H..
Bushes on the Stock Exchange to-day
showed a further decrease In volume, the az
greeats transactions falling 10 the proportions
OF a single hours trading In a fairly active
speculation. Commission house interest
dwtndled 10 nominal limit and the room traders
were almost entirely responsible for the huo
t~uattons that we're recorded They we're en-
couraged by the general apathy to attack the
market in a desultory way early In the day and
succeeded in forcing declines. extending IN
a few instances 10 n point. In the afternoon
covering OF shorts caused rallies from the ex'
treme low points, but the movement from starr
10 finish was very ~listless. The market Ignored
equally the reports Of the capture OF Pekin
and the release OF the foreigners In that city
and the prospeo OF an unfavorable bank state
ment 10 morrow, due to the large exports OF
gold this week and the shipments at the close
Of the previous week which were not reflected
in last Saturdays statement Of averages. This
last circumstance was not surprising, as Wall
Street Ia fully cognizant OF the fact
that the depletion of the cash holdings
OF the banks will be more than made
good In the near future by the disbursements
of the Unitel States Treasury in the redemp-
ton Of the old per cent. bonds, for pensions
and on account OF the steady current OF receipts
OF gold AZ Pacific Coast points from domestic
and foreign sources
The usual weekly preliminary estimates OF
the results OF the known movements
OF money indicate that this centre Is
still gaining currency from the interior
on about the recent average and that
but for the gold exports the local banks would
have gained in cash nearly 100000. Tho
redemption OF the Government 2 per cent
bonds will be begun tomorrow and the as-
sregate amount that will be paid out on this
account. as previously reported. Is variously
estimated az between $4,000, 900 and s20,OOO.-
900. The apparent net result OF the weeks
cash movements Ia q loss by the local banks
OF over d, OOO,o 900. II would not be surpris-
ing II the statement OF averages tomorrow
shows a loss OF several million dollars In excess
Of tina amount, rejecting the arrears OF the pre-
vious week. Iondon's operations In this market
we're not particularly noteworthy and cabled
advtces from that centre reported selling from
this side. The naTowness OF the local market
was attempted 10 be explained partially by
the fact that the London Stock Exchange viii
be closed tomorrow and by the increasing
disposition on the part OF the financial COM
munity 10 take a more serious view OF the ma
tional campaign situation. There was no news
OF importance affecting the immediate specu-
lative outlook. and about the only develop
ment out Of the ordinary was the release OF the
long expected yearly report Of the operations
OF the Brooklyn RAPID Transit Company, The
report. which is printed In detail in an adjoin-
ing column, was not given out until some time
after the close Of business on the Stock EX-
change. II shows about as had been expected,
a small dividend earned on the stock.
Brooklyn Rapid Transit led the market 10
point Of activity and II closed nearly a point
higher than yesterday. No other stock ap-
the 10000 share mark. Consolidated
Gas, on light dealings. scored the maximum
net Improvement OF ~ per cent, after an early
loss OF a point from the final price Of Thursday.
Lead common declined I per cent.
on moderate trading on the news OF the fling
OF a mortgage OF o, .ooo,o 900 by one OF its sub
=idiary concerns to pay for improvements at
its mills. Sugar Refining closed a shade higher
yesterday. but was eK exceptionally dull.
In the late dealings Jersey Central rose ~ per
cent. from the lowest price and left OF with
a net gain Of the full figure. The market closed
irregular,