The times. [volume] (Richmond, Va.) 1890-1903, 1900-06-03
STOCK MARK:
CLOSED HEAVY
Prices With Few Exceptions Suffered
Decline.
BONDS MORE IN DEMAND.
rhc Bank Statement Proved Disap-
pointing in Some Items and
Mystifyins in othcrs-Thc
Local Markets.
BONDS MORE IN DEMAND.

NEW YORK, June 2.-There was
manifest hesitation in the trend OF prices
Of stocks to-day, and doubt was dis-
tiosed whether the upward movement
was not TO prove abortiye American Sc
curities got practically no support in the
London market, where dizziness reigned
IN anticipation of the Whitsunude hoh-
days.
The only stock in demand for London
account WAS Baltiui sse and Ohio, winch
touched So IN the New York market an
early dividend on the stock. Efforts We're
maize TO put up Southern Paciiic on the
expressed satisfaction OF the president OF
the company with the prospects OF inc
company. There were also one or Two
minor railroad stocks which moved up
ward. These sustaining influences, now
ever, failed to hold the market and the
bulls sought TO take profits, with result
ing losses in prices, which REACHED to pc
tween i ana 2 point in some stocks
The iron and steel industrials were
opinions regarding the trade outlook by
the mercantile agencies and on the smut,
ting down OF additional mills oil the steer
anu Wire Company which We're reported;
Sugar hung below last nights level, ana
was comparatively dull.
The bank statement proved disappolnt-
ing in some items and mySufyirlg IN
others, and turned sentiment towards re-
action, the closing being heavy and I'M
settled on a declining scale. Inc gain IN
cash showed Yesterdays preliminary
estimates much at fault They calculated
upon gain in cash by the banks OF less
Ian $1,000, COO indicating a falling OIL IN
the return row OF currency from the IN
terror compared with last week OF a mil
lion dollars. The bulls accepted this cali.
culation as an encouraging factor yes
terday as indicating an Increased use Tor
money and greater trade activity. But
the actual bank statement shows a gam
in reserves Of s4.147 600, indicating the
receipts from the interior OF million
more dollars than last week
There have been Known operations
during the week to account for loan,
but the large bank clearings indicate
money ruling in Berlin make it probable
that further American capital is being
placed at interest there The additional
reserve requirement resulting from the
loan and deposit increase brought down
the increase in surplus reserves to
S1,2l0,950.
in the bond market there has been
some Improvement in demand and IN
prices as a result of the accumulation OF
idle money and the apatheuc demand
for funds at the money markets. Inc
volume offering of well-Secured bonds is
small, and prices advanced easy with
any considerable demand United States
refunding registered rs (when issued
and the rs declined Il. and old As regis
tered and IS Is in the bid price.
The total sales of stocks to-day were
1G1.5u0 shares.
MONEY AND EXCHANGE.-Money on
cal easy at IL per cent; prime Inerc2n-
Tile paper. 3Is@Il4 per cent. Sterling eX-
change steady, with actual business :, in
bankers bills at S4.Sl3sQ4-SlA Tor de-
mand and at SASH Tor sixty days;
posted rates, 81 S31a and S4.SS&; CONNER
cal bills, 81. S3A@4.S4. Silver certificates,
,Jrtfi; bar silver, GO; Mexican dollars,
49,. State bonds inactive; railroad bonds
IRREGULAR Government bonds weak
WEEKLY BANK sTATEMENT.Th
bank statement for the i've business
,io,,C az this. 1papi, shows the following
sn@rESs, reserve. increase ,31o, $50
inails increase ... 1911. 500
Spacie increase 35lS,9 300
les.al tenders. increase .. 62S, 100
DG1nsitr increase il 344 200
Circulation, increase ........,. 499,SOo
The banks now hold S20,123.:2sI0 in eN-
cess of the requirements of the 70 per
cent rule