The times. [volume] (Washington [D.C.]) 1897-1901, 1900-08-26
PUBLIC NOT INTERESTED
Professionals Did the Bulk of the
Trading Last Week.
Satisfactory Reports of Earnings in
Various Corporations Fail to
Awaken the 0Utsidcrs-Stntem ent
of Averages of Associated Banks
Shows an Increase in Money.

NEW YORK. Aug. 25.-The week has
been absolutely uneventful There has
been no change in the technical position
OF the market and the developments that
might be expected to influence trading ana
fluctuations have, as for scme time past,
been ignored. As a matter of fact, there
were no very important occurrences dur
ing the week. There have been, however,
additional railway traffic returns of a sat
isfactory character, both for nearby and
remote periods, those for the last named
being of net receipts.
Even so complete and excellent show
ing as that of the Republic Iron and Steel
Company, which was made public today,
failed to influence the market for the Sc
curities of that corporation. The weekly
statement of averages of the associated
banks shows an increase in lawful money
of over So, O0O,O00 which was about what
was TO be expected owing to the applica-
ton of the system of averages to the to-
tai receipts of the week of nearly $780,
000, chiefly from the Sub-Treasury.
The increase in loans is moderate and
probably results from commercial Dor
rowings incidental TO the beginning Of the
fall trade. An interesting feature Of the
statement is another increase of over $780,,
000 in the circulation OF the banks making
the total increase in that item within
eight weeks 81 $50, 900. The change in the
deposits is for once very nearly consistert
with the sum of increase in lawful money
and in loans.
The net result brings the surplus re-
serve up to nearly s24, 100000. The banks
are unquestionably going into the crop
meet a demand which will unquestior ably
be very much smaller than usual. Bank
ciearings for the week show a slight in
crease over the previous week, a circum-
stance that may indicate that the reaction
In general business has about run its
course. The decrease as compared with
the corresponding week of last year is
about II IL per cent.
The weekly trade reports tell of grow
ing confidence in business and Of a
fairly good distribution of staple goods
particularly at the principal Western CEN
tres. Reports regarding the iron trade are
in the main encouraging. The demand for
raw material and for manufactured pro-
ducts is increasing to an extent that has
caused hardening Of prices in number
of cases.
The export demand for cereals is becom-
ing fairly brisk, and this has resulted in
a sharp advance in the price of wheat, and
that circumstance in turn appears to at
tract grain from the hands of producers.
As the shipments of winter wheat begin
to fall off, the movement is supplemented
by the receipts of spring wheat.
Today's stock market consisted chiefly
Of persistent selling of Brooklyn Rapid
Transit. The steadiness and volume of the
supply created the impression that long
stock was being marketed. The net de-
cline of 2 3-S per cent also favors the the
DRY. Peoples Gas was conspicuously heavy,
but did not sustain a loss in price. St.
Louis Southwestern issues were exception
ally strong on the good showing of earn
ings published this morning.
AS compared with the final prices Of last
Saturday the majority of stocks are lower.
The more important net declines are in
Brooklyn Rapid Transit per cent; Amer
lean Sugar, 3-S; Metropolitan Street
Railway, 2; st. Paul and Peoples Gas,
Ia each; Anaconda Mining, Atchison
preferred Rock Island, Pennsylvania, and
Union Pacific l each; Quincy, Cleveland.
Cincinnati. Chicago and st. Louis. Federal
Steel, and United States Rubber, rs each;
Manhattan Railway, New York Central,
and Northern Pacific, 3-s each, and Amer
lean Steel Hoop 1-2. The noteworthy ad-
vances are in Jersey Central, 2, and ST.
Louis Southwestern preferred. 1 is per
cent