The times., 1901-04-28

NEW YORK. April 27.-The statement
Of avera ges of the associated banks, as
had been expected, made a favorable
showing. but the changes in the various
items were in the nature of surprise. as
the cash increased $2,7350o0, whereas the
usual preliminary figures of the known
movements OF money had indicated a
small loss. Then again an increase in
loans was shown of nearly $2,500,ooo in
stead Of the decrease that had been gen
orally looked for.
The gain in lawful money in the state
ment reflects late receipts of cash from
the interior that were not covered in last
week s. statement and arrivals of money
from out of town this week by registered
mail. Doubtless fully one-half of the IN
crease in cash came from local sources
The net result is an increase in the
surplus reserve Of S1.SGG75, bringing the
total Of that item I'D to 56I59,'l5, as
against a reserve q year ago Of SlGV'A2'o.
The pressure of money from out OF town
has caused decided softening in the
tone OF the local money market and
virtual conflict to lend money between
the local and the interior banks. one of
the larger banks this week declined to en-
tertain proposals to lend on country ac-
count $4,000 600 in the local market, urg-
ing that it was UrI bic to place its own
large available surplus.
The bank referred to decreased its cash
holdings this week $4,o00000. Cabled ad-
vices from London today reported a de
cline in the call rate for funds at that
centre from 3i4 to per cent, owing to
the offerings Of money that had been
locked up temporarily in consols.
Business on the London Stock Exchange
today was active and American railway
shares. partly influenced by expectation
of a favorable bank statement in New
York, were strong. Trading in this de
partment was checked to a considerable
extent. owing to the holiday on the New
York exchange. The features of the in
ternationalIy listed shares were Northern
Pacific Wabash issues, Rio Grande, the
St Paul. and toward the close noteworthy
advances over the New York closing fig
ures Of yesterday were recorded. The
United States Steel stocks were firm. Lon
don also cabled buying order for Ana
conda Mining TO be executed on the
Boston Stock Exchange today.
The Consolidated Exchange afforded the
only local market for stocks, and its
business showed a material Increase over
average proportions. many orders being
executed for account of traders who are
not regular clients of the exchange. Prices
were favorably influenced by the strength
of the London market and by the good
bank statement, with St. Paul. Reading
issues, Baltimore and Ohio, and United
States Steel shares the features. Quite a
little business was also reported in Chi
cago, Burlington and Quincy at advanc-
ing prices.
At Philadelphia, Boston, Pittsburg. and
Chicago fairly active markets were re-
ported in railway stocks, generally on a
rising tendency.
PHILADELPHIA, April 27.-Choctaw
was again the feature in Philadelphia
further advancing to 65a4 sales and bid,
with none Offering under 66 at the close
This is more than double the price of
last October. The per cent preferred
stock reached 5534. Leading interests have
rejected az affer If 60 for the control and
as upward Of 20 per cent is Deing cam
on the common stock after the preferred
dividend a higher offer is more than prob
able. If indeed il is not already under con-
sideration. The strongest houses in town
were buyers at today level which. ii is
needless to add, is the highest YET reached
The Readings and the United States Steel
shares were the other features for rea-
sons already given.