The times. [volume] (Richmond, Va.) 1890-1903, 1900-09-15
STOCK N Market
IS IOAlalNG Up
Professional Traders Bore Down On
the Decline.
GROWING . NEAslNfss S.
u N { A S IN { S S.
GROWING
Rapid Rate of inroadS Upan the Avail
abic Bank Reserve pircipisa,cd
the Scliin. OF stock-iscaciion
of Cotton Market.
sEr Assoc,a.ea Press,

NEW YORK, Sept. 1.-the stock mar
ket took on a much more decided lol,e
to-day. Indica tons OF iinuidafion Sd ~,
cred force, ana in the late deaiihss t w,
professional traders teii upon the ma ny ~
and offered prices down al! aroma ,'il LIZ, ..e
room. They met with considerable SUE
cess in bringing out offerings at tiie us
cline. and when tIeys coEeGted Oh on d GO
cred on a moderate Scale the rallies We're
so feeble that they renewed the a..a -,
making the close Of the market quite a.
tive and. easy.
The coaltIs: were theImost notable sui
ferers, though not on the largest foiuti i'.
of selling in the list. But the WEAKNESS
WAS quite general Sugar enjoyed q pc, pc
Tiod OF strength, but closed point pe!eW
last night. The steel stocks were Sert l
ally heavy. and 4 number OF them Were
OF point or over. Growing ufeasHlG s,s
over the effects of the coal miners strike
and fears of higher money rates COM
t1ned TO cause the reaction. Naii street
has INDUCED comfortable assumption
that the dispute with the anthracite cqai
miners WAS to be settled before the cur
tailment Of production proceeds FAR, but
1o-days news that miners whose supply
OF powder was exhausted We're laying
down their tools without buying fresh
supplies dispelied much Of the optimistic
feeling.
The financial world seems to awake
generally to-day to the realization that
the cautious conservatism displayed by
the worlds great BANKS was warranted
by foreknowledge. The official announce
1Oent the Dy NEW
bankers 10 the German Treasury bond
issue of S00U0,000 marks $50, 000,oop) en-
phasized to-day the uneasness over the
effect of this new demand upon the
money market.
The forecasts of the weekly statement
shows that the banks have lost to the
Sub-Treasury since last Friday Hi,llS,9oo.
Estimates of the currency movement to
the interior are conjectural, but the
known movements Of money by express,
according to statements. by the banks
themselves. indicate chat over 5S'.0OO,D0O
has gone out This indicates a total loss
in cash of about S5,OO0,Uo0 by the banks.
This rapid rate of inroadS upon the
available bank reserve precipitated the
selling of stocks. Possibly the reaction
in the cotton market was also RESPONSE
bile for throwing some securities upon
the market
The bond market did not share in the
late activity. OF stocks, and continued
practically dormant. Total sales, par
value, $4,000 United States ;5's adj
Nanced II and the As Y per cent. in the
bid price.
Total sales of stocks to-day were 49,
600 shares.
MONEY AND EXCHANGE.-Money on
call easy at 114d1la per cent; prime mer-
camille paper, 4aoA per cent Sterling
exchange steady, with actual business in
bankers bills at S4.S63s for demand and
at s4.S3A Tor sixty days; posted rates.
81. Siu4. S4la and S4-S.1@ep4Ss; commercial
bills, s.. s2ia4d s.. Silver certificates; 62A
M63s4; bar silver, 6aH4; Mexican dollars,
iSg4. Government bonds strong; State
bonds inactive; railroad bonds steady.
BANK CLEARINGs-Total bank clear
ings at the principal cities of the United
States for the week ending September
18th were S1,s2S, 035, o,5, a decrease of
22.S per cent; outside of New York the
total clearings We're S5S6,339,421, de-
crease of 80 per cent