The sun. [volume] (New York [N.Y.]) 1833-1916, 1900-10-07
FINANCIAL AND COMMERCIAL.
aArrRpAY. Dot Q.

6ATNhbhhf
The -.oLIv sta,emant ~ averages OF the
Associated Banks made n more uniaNoraole
showing than had generally been expected
The loss in lawful money, chiefly In specie. was
ts,b74,7o0. or about .3,JOo.OOo more than the
preliminary estimates based upon the known
movements Of money. The decrease IN loans
was smnll-in fact. very much smaller than could
reasonably have been expected. TINS was
probably due 70 the repayment OF temporary
loans over the FIRST Of the month The two
changes noted called for a decrease In the
deposits Of %, $50. 900. whereas the change In
that item Il close TO $4,000. The net result
outs the surplus of last week In two. reducing
Il o. s6.2 100.
The exhibit foreshadows the contraction
| OF loans in the near future 30 plainly that the
professional element sold stocks rather freely
during the last hslf-hour Of business, and IN
conse luence brought about net declines averag-
ing oHe-half Of 1 per cent mall OF thestocksthat
received much attention Prior TO the publication
Of the statement the market was Inactive and
steady. The speculation this week has been
Influenced in the main by the growing con-
viction that the Administration will be In
dorred and successfully supported at the polls
next month. This feeling. however, has not
extended to the investing public. though II
dIDeslIF llhl rpIIt VI NO
In the Street have taken hold OF the various
securities in which they are inter ested. In
other words, there has been some good buyi ns
At the same time. the moro favorable political
outlook has induced a good deal Of covering
OF short.
The weekly trade reports show that business
has suffered somewhat because of the unseason-
able weather and also because conservatism
Is p~ractised pending the termination Of the
political campaign. The sentiment Of the com
merCial community. however. IL hopeful and
the belief Is general that a large and profitable
business will be transacted as soon as the election
and the labor troubles In the anthracite coal
reeions are out OF the way Now that the In
dlyldual mine operators have made new terms
with the anthracite coal-carrying companies.
the chances OF "A speedy settlement Of the miners
strike are decidedly improved. There has been
a heavy outward movement OF cotton ut ad-
vandng prices. which has depressed the foreigner
change market to rates that have suggested the
possibility of imports OF .pecie. Owing, however,
o the comfy which exists between the principal
financial markets Of tho world such "A move
ment will unquestionably be delayed az long as
possible. This country does not need any Of
the gold held by Europe, and bankers here viii
avoid taking II as long az they can. The iron
ana ttpPl IuHIhfNS are sun uDNtllitl VI rllNt VI
the agreement fixing the price OF steel rails for
the ominR year. Orders for rails are held
back, the same as those for many other COM
moditiee. until after election. Other manu-
featured products OF iron are in fair demand.
and there are no indications that lower prices
viii be recorded. On the contrary, If President
Mckinley Is reelected there Ia likely 10 be a rush
20 buy both raw and finished material
As compared with the final prices OF last
Saturday the entire list ia higher. The note
worthy advances are in American Tin Plate. I
points. Manhattan Railway a. Burlington and
Quincy. 81, Metropolitan Street Railway and
New York Central 81, each, Baltimore and Ohio
and Consolidated Gas. each. Pennsylvania Rail
road and 81. Louis Southwestern preferred. ~
each: American Steel and Wire and American Car
and Foundry, % each, National Steel and
Northern Pacific, ~ each: American Steel Hoop,
Federal Steel and Union Pacific. ? each: Texas
Pacific. ~; Brooklyn Rapid Transit, Missouri
Pacific and Southern Pacific, Il. each, American
Tobacco. 81. Paul. Rock Island and Peoples
Gas, IL each; Atchlson preferred and Southern
Railway preferred. II. each, Chesapeake and
Ohio, N; Continental Tobacco and Union Pa
cifo preferred. | each Atchison. y; Wheeling and
AXE Erie second preferred. y: Louisville and
Nashville and Tennessee Coal and Iron. y point
each.