The Montgomery advertiser., 1901-09-13
WALL STREET REVIEW MATED FROM MARKET. Speculation Rife as to the Coming Bank Statement-Payments for Bonds Too Late to Be
 Included.

NEW YORK. Sept. l2.-The news from Buff falo was practically eliminated as an influence
 the event of last Friday. The coming bank
 statement began to loom big on the horizon as
 cash movements will allow some estimate of
 what the showing will be- In the item of
 loans however: the statement itself on satur.
 can be no escape from weak statement on
 both scores The banks have lost cash on the
 interior movement during the week. but the
 drain to the sub-treasury has been sensibly di-
 unfinished. Large payments have been made
 to the banks on account of Australian and
 Klondike gold and the diversion of internal
 revenue receipts into the bank deposits is ap-
 tSe eS Govepnment % institution. The increase r in
 Government deposits from this source is to be
 distributed ultimately among banks throughout
 ury to secure them. But the bulk of the pay
 ments to the Government are made in New
 temporarily in New York banks having what are called Tive accounts with the Govern
 banks this week The acceptances by the Sec retary of the Treasury of tenders of Gov
 n1st' msrrst cIoseS toasv and tha payments for
 these bonds aIe too late to figure in this week s
 bank statement anyhow Yesterdays feeling
 ure to give such relief to the money market
 as would benefit speculation in stock was deep
 bid prices of Government bonds on call in
 creased the doubt as to tenders being made at
 prices which the treasury would be inclined
 to accept in any large amount. The expressed
 unWillingness of the Secretary to offer any
 considerable bonus to owners of bonds to in
 duce them to sell influenced this feeling,
 which was a considerable factor in the heavi- ness and uncertainty which pervaded the mar ket all day. The St. Paul dividend episode was disconcerttng to part of the speculators who had made very confident predictions of an increased dividend and had bought stocks on the strength of their belief Their most | plausible argument was that at the time the St. Paul authorities rejected the offer from Northern. Pacific, which afterward ac- cepted by Burlington, assurances were given | to stockholders that they would fare as well | as though the offer had been accepted. Repub- | lie Steel was particularly weak as an after | effect of the poor showing of the annual re- | port and Amalgamated Copper was conspicu- ously weak under pressure all day. Sugar was | sold ostensibly on account of the close of the | fruit canning season. Other price movement; l of any considerable extent were fin stocks oi l little prominence. , | Railroad bonds were dull and firm: Tota l advanced A, old As and 5's F and the new 4's | A on the last call today.
 Money Exchange.
 | NEW YORK Sept. I2.-Money on call firm | at 4@6 per cent; last loan at per cent. | ruling rate, Az. -,, | Sterling exchange heavy with actual bust | ness in bankers bills at 4. 4.e5H@4. S5H for de l mand and 4.S2% for 50 days; posted rates | 4 e3Hd4 e4 and 4 S6@A. 96h
 | Commercial bills, 4.e2G4. e2h.
 | Bar silver 59&; Mexican dollars, 45r. | Government bonds strong; State bonds weak | railroad bonds strong.