The Washington times., 1901-11-17
CLOSING OUT OF
LONG ACCOUNTS.
STOCK DEALINGS FAIRLY ACTIVE.
Fear of Tight Money Market Dis
PEELED by Bank Statement
RendinE Leads Advance
in Railway Quarter.

NEW YORK. Nov 16.-In view Of the
revival of activity in securities and the
abnormal exports of specie this week.
greater interest than usual is centred in
todays statement Of averages Of the as
sociated banks
Fears have naturally been aroused that
the advancing tendency OF the market
for securities, for which there is obvious
ly a substantial basis, might be checked
by a fairly close money market. Today's
bank statement tends to dspel apprehen-
sion on this point, since it shows that
receipts OF currency from the interior
and heavy disbursements by the Sub
Treasury have more than Offset the with
drawals of gold for export.
The Decrease in Loans.
The net gain in cash by the banks is
not large. but the fact that it has been
made is certainly reassuring. The other
important change in the statement is the
decrease OF nearly S4,5cO0O0 in the loans.
This has been brought about. in part, by
the dissolution of the Third Avenue bond
syndicate, which has been followed by
the transfer of the bonds from bankers
to investors, and also by the absorption
of securities generally by those who are
able to pay for them.
The investment demand for both stocks
and bonds has undoubtedly been stimu
lated by the adjustment of the differences
that existed in the Northwestern railroad
situation.
Todays stock market was moderately
active, and in the main strong. There
was naturally a reaction in the local trac-
ton stocks after yesterdays sharp ad-
vance, but the remainder of the railway
list advanced under the lead of the Read
ing issues. Reading common was dealt in
more extensively than any other stock,
and enjoyed a net advance of more than
2 points
The other active railroad stocks closed
fractionally higher than last night. The
second place in respect to activity was at
tained by American Locomotive common,
at a net gain of Ia points.
Less active issues that advanced sharp
ly were Delaware and Hudson, Delaware,
Iackawanna and Western, International
Power. Chicago Terminal preferred, and
Twin City Rapid Transit.
Bond Market Very Active.
The bond market has been unusually ac-
tive this week. with a large portion of the
buying evidently for investment. In the
outside security market today Northern
Securities advanced to 1I2 on the purchase
of few hundred shares.
other issues were comparatively neg
lected, but Storage Power sold up to S.
The money market will be watched close
Iy next week, as the indications are that
several millions of gold will be be shipped
to Paris An enga cement of $500 900 by a
Boston banking house was announced to-
day.
In all probability these shipments. as
was the case this week, will be offset by
receipts of cash from the Interior and
further disbursements by the Govern
ment for bonds. 1t is understood that a
considerable amount of bonds Will be sold
20 the Government next week.
London continues to evince its desire
that the current settlement of our trade
balance with Europe should be made
with Paris by making a further reduction
of quarter of penny an ounce in the
price of gold bars and American eagles
I his makes reduction of three-quarters
of a penny in the last three days.
Pressure at the Close.
At the close the stock market was de-
pressed fractionally by the closing of pro-
fessional ventures for long account at |
the week end. Inc tone, however, was in |
the main firm.