The age-herald., 1901-08-30
BUSINESS ABOUT SMALLEST OF YEARS 4S Stocks Were UnresponSive to
 Any and All Deals LONDON A SMALL BUYER The Recessions From the Best Prices of the Day at the Close Revealed
 the Professional Character
 of the Trading.
 
LONDON A SMALL BUYER

New York, August 29-Any hope or revival of speculation at this tune sun further receded today and the pasihess transacted at the stock exchange was about the smallest of the year. such as 1t was, 1t was done above yesteroay closing prices, but the recessions from the best price towards the close Of the oay revealed the strictly professional charac- ter Of the dealings and left prices near to. last nights level. Yesterdays check to Tuesdays selling movement had ap- parentiy aroused some hope that re- newed buying movement in force might be imminent This changed the profess sionals on the buying side and accounted for the upward movement while the closing out of their accounts were equal ly responsible for the reaction. London was reported a buyer in this market to an effective degree considering the mar rowness of the market This coupled with free supply of grain bills, caused a further reaction in the sterling exchange market :, The London market at the same time hardened appreciably. in part owing to the demands incident to the pay day for the stock exchange settle ment Exchange authorities do not ex- press much expectation of any inward movement of gold in the early future. The supply of exchange bills is in some part connected with the making of ster- ling loans and stiffening of foreign mon ey rates would be likely to bring de- mand for exchange in connection with the release of these loans. The weekly bank of England statement showed an ad- ditional strengthening of the condition of that institution, but the return of the bank of France is weak showing de- cline in the gold reserve, an expansion of the note circulation and a heavy in crease in outstanding loans. Conditions in tfe local money market continued practically unchanged.
 There was an additional 00000 trans ferred to Chicago by deposits at the sub treasury, and without this that institu- tion's withdrawals from the local money market had reached s3,721,0Oo up to last night. Coupled with the large special movement to Philadelphia, known to have occurred early in the week the movement of currency by express to the interior, a large decrease in cash re- serves Is taken for granted as an item of next Saturdays bank statement. The time money market is very dull. owing to the QlSpOSltlO0 or lenueTS lO keep lHtil funds in call loans ito meet any emer- gency There was some special demand at different times today for St. Louis and San Francisco, and CCanadian Pacific on the large net earning reported for July for Missouri Pacific on vague ex- pectations of coming developments; for international machine on the large or ders for locomotives, for the interna- tional paper stocks on the conditions re- ported at the annual meeting; for the Fries on the hope that labor difficulties among the anthracite miners, would be avoided and for Mexican National, Mexi- can Central, Baltimore and Ohio and some other stocks for undisclosed req sons. American smelting declined furth- CT on rumors of competition organizing, but rallied sharply.
 There was liquidation on Standard Rope and Twine.. which broke the price of the six and four points and of the income two points. Central of Georgia first incomes fell 1%.
 The bond market otherwise was slight ly irregular. Total sales, par value, Sl,- s2O 900. :. United States 3s advanced B and the new As declined A per cent on the last call
 New York Stock Market.
 Bv Private Wire to Murphy & Co.