The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-09-30

The banks now hold s12 90. 500 In excess OF the
q per cent. rule, a decrease OF s3,s0s, 725 from the
surplus OF last week.
The Financier says: THE heavy decrease in
deposits reported by the New York banks,
COUNTING to So, 764. 700 for the week end
ing Sept. %. operated to reduce legal reserve re-
aulrements by 5000, 900 and over, and thus
counteracted by half the loss OF Sc. SEQ. 500 In cash.
which went out Of banks to meet interior de-
mands. The position of the banks. as a whole.
is a little better than indicated by the state
ment, for the reason that receipts Of nearly two
and one-half millions of specie from the Pacific
coast. Friday, figure only slightly in the weekly
compilation. The loan contraction of SIS 400
was due to the efforts OF banks to meet the de-
mands OF interior correspondents. and at the
same time TO maintain their reserve percentages
loans lessened deposits and with the heavy loss
in cash. brought about the shrinkage OF s12,764.-
zoe in The DEPOSIT totst, wisn ths e1 isis s sesson
is not unusual. Last year, during the week
ended Sept; q the e. banks dac,. lost nearly tbs szS eoUgsDs
week. a ys esr S stss S SoSe xs:O0S SS iOe0l banks Az i hsd c o0Is
81. 72.. $50. OF excess reserve. as against sl2 9f2, 500
now, and they lost at least s65,ooo.oo of deposits
in s~eptemSer' T ~ eomPar ,bsr with on.s s sas, .sg'V 10
meet this year than last. but II means higher
ment Is complicated by the operations OF one or
two large banks. the decreases of which go Tar
or ss per cent. of the excess reserve OF all the
hanks. was held by one institution. This week
the same bans holds So. 200; or - per cent OF
amounts to $780, 900 or within ~sl.50o.o0 of the
ton OF the remaining Institutions. therefore. has
undergone no important change, 60 far as cash
is concerned. during the week"
WALL STREET REVIEW.
The stock market was a narrow and profess
sional affair, Saturday. which ended with a show
of animation and strength on account OF an ac-
tive demand from the short interest. which COW
cred on the bank statement. This element saw
announcement In the fact that the inroad en-
the banking surplus was restricted TO less than
s4oO0.pOO. while a much heavier depletion was
expectsd. This sentiment seemed not TO be af-
fected by the fact that a decline in the reserve
requirements Of over 100000 was responsible for
this result. which was brought about by a con-
traction OF S.6sS, 100 In the outstanding loans CT
the banks. The actual decrease In cash was
slightly xp 1n Besides the liquidation "a the
stock market. a large volume OF time loans Is
said to ps beae thn BANKS are inclined to hold for
higher rates The prospect OF favorabie develop
ments in the coal strike situation. over Sunday.
sncreassd the disposition OF the bears to cover.
and the recovery In prices from the early low
active stocks. not a few Of which showed net
gains OF a point or more. The early selling OF
stooss w and by Tumors Of financial dIfhcuisies in
Rsrlin. where the exigencies OF a settlement
caused a,s : s1TR s, IL 2 r Rsr .s ssat stocks tn 'a We're ra father ler
Arm throughout. limitations from officials OF
ssveraI Of the great trunk lines Of an intention
10 provide for the years needs. forthwith. at the
present price OF SIS for steel rails. helped the
rroup- Large receipts OF raw sugars, doing
away with some OF the danger OF a deficiency.
helped Sugar. A feature was the further mark
ing down OF sterling exchange rates oy the ak
change bankers. in spite Of the ncmina. charac-
ter OF the Saturday market.
Prices OF stocks have shown some violent
fluctuations during the week, and mounted TO z
level considerably higher than on last Satur-
day. TIE feverishness OF the market has beer
almost wholly due 10 the difficulties in which the
bear operators became involved through theii
too great eagernesS to discount the prospective
decline IN prices The unwieidy proportions
which the bear account had attained made II
vulnerable 20 attack. and when the probability
became known OF a settlement OF the anthracit:
coal miners strike, there was a powerful and
trf1sntisf combination Of spectators ready &C
sake quick advantage Of II and help the upfurr
~~alnsf the bears by every manfpulative device
known 70 the professional operator. The read5
~~,t Of the bears served 20 detract much from
<he prestige OF that party. As II indicated 9
ieck OF confidence In their position not cal
1879 70 invite a large following.
Manipulation OF the stock loan department. o.
ene exchange played . prominsnt part IN N