Evening star., 1902-03-15
American Ice Makes q New
Low Record.
UNDER HEAVY SELLING
GOOD BUYING OF ROCK ISLAND
BY INSIDERS.
The Bank Statement Was Rather Bet
ter Than Expected-General
Market Reports.
special Dispatch to The Evening Star.

special Dispatch to The Evening Star
NEW YORK. March 15.-Today's market
opened dull under volume OF professional
tfaaihg which resulted in irregular net
changes In the more active shares For
the most part such changes were insigntl
cant, but there were one or two executions.
The recent heavy selling OF American Ice
was resumed the price getting down to a
new low point
Selling by the former management of the
property and their friends is credited with
the recent depression. There is some talk
of doubtful dividend prospects. and as the
retiring members OF the board know most
about the property their selling has been
effective.
Buying of Rock Island was feature of
the morning. the demand coming from
sources closely related to the management
and being accompanied with rumors of i'm
portant developments In the near future
special movements are all that can be
expected for the balance of the month
since the market is in rut and the inter
ests capable OF giving il new life show no
sign or making the effort. Street gossip
mas 1t that some of the leading manipuia-
tive brokers are to leave town for a fort
night, thus adding to the prospects for a
further dull season.
The Secretary of the Treasury. In an
hounctng his intention to discontinue bond
purchases from this time on. made no par
ucular Impression upon prices, with the ex-
ceptlon or government fours. The latter
issue was merely heavy and banks were not
Wiling to buy 1t Is pointed out that bond
purchases In time of need are not an i'm
probability, since the present policy OF the
new head of the Treasury Department is
mainly experimental.
The bank statement was better than cy-
pected, and as usual reflects past condi-
ton. and In its proverbally imperfect man
ner The trust companies have been doing
the bulk of the lending during the week, as
decrease of $l4.312,000 in loans attests
In order TO make these transa ctions bank
deposits were drawn upon, and a reduction
OF S21 &c., 200 In the deposits is recorded
This decrease in liability calls for a
smaller reserve. and decrease of $SI55,
only is recorded in the surplus reserve hold
lngs. The loss in actual cash Is very close
to-yesterday's estimates, the total loss i'm
lawful money being So. 1863 100.
The total reserve above legal REQUIRE
ments is $3. l129OO. instead of being entirely
exhausted. as was predicted in certain
quarters during the week. AS q result of
this showing the market closed moderately
steady.
Crop conditions at the end of the week
are better than at the beginning of that
period and there have been some favorable
changes In Industrial activity. Trades re-
ports indicate confidence in commercial cir
cles and railroad officials are confident IT,.
the approaching season will be one Of big
business.
The market Is waiting, but Is In a mood
to expect good rather than bad news
Southern railway declaring an Increased
dividend Is one OF the numerous evidences
that the leading flnanciers are satisfied with
the outlook.