The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-06-22

eiai.sl Rank. to-day vas con.id-frt dirar-
pointing. AMI IL publication unfavorshv
arertet the stock mArket. causing In mary
ca-s- N" partial or compls,e lo-s OF gains
previously established. The item of ossh
i~ncr-a-Si only t~Ts 10, whereas the hsures
Furnished nv tn. hanks Individually y--'er-
day indicats-i a gain from the out-of-to~r
movement II money 81 approximately
t,soo.nO The peculiar workings Of IN"
system ~ averages now Employed DOUBT
lees accounts to AN extent for the d'srr-p-
ancy bstSr~n the figures OF the BANKS
Individually and In collective form. Inc
compilation IT the known movements OF
money published In THk SUN this morning
r~elerrei to the fact tina, q number OF the
larg.r banks had Increased their loans and
deposits. hut the financial community.
apparently. had not given the matter much
attention and consequently the increases
Of o. VA. 100 in the loans and Of ts.os<.oOo
in the deposits exerted the depressing
influence referred to. The net result of
the statement IL a decrease In the surplus
reserve II n.iit, 100. but the banks still
hold si2. iss $50, or nearly twice ~ much as
q year ago.
Shortly before the close Of business
Nv " VI = - -
gold from the Klondike for the season was
made Prominent Canadian banks that
usually handle the greater part Of the gold
output 81 the region mentioned were drawn
upon rather heavily recently and one OF
them was to-day notified that a lot OF
81 ,?Jo.O0 Of gold had been consigned TO
San Francisco from lawson City. The
demand for foreign exchange which has
bsen a feature of his week has been vari-
ously due to preparations for the half
yearly settlement Of International com
mercal credits. TO remittances representing
July interest and dividend disbursements,
the covering Of stock sold In this market
by London and Of credits granted to tourists,
Prominent drawers Of exchange assert
thai the demand would nave beeen still
greater. but for the continued disposition
shown by bankers TO draw long sterling
bills against their credits in Europe.
While the stock market continued on
abou, the same considerably reduced
ratio az activity a. since Wednesday. n
tendency toward Improvement was shown
which continued until about the last half
hour Fractional advances occurred In
IA" anthracite coal shares. partly due to
the covering Of short contracts and to
investment buying on the reports Of strong
dlS-.n-iou- existing between the soft coal
miners and the pro-p-S; that The call for
a general strike would not only fail but
nigh, result IN the disruption Of the United
Mimi Workers' organization. The anthra-
cite producing companies are Understood
To be gaining ground 80 far as securing
all the help required 10 keep the mines
4 good condition. Officials Of the larger
coal railroads believe that the increasing
mob violence In various parts OF the coun-
try will impress n the Commonwealth
Of Pennsylvania the Necessity Of strong
measures to restore order and protect
property in the anthracite regions.
The only railroad stocks that exceeded
or approached the n. 00O--harr mark were
Missouri Pacific. Wabash common and
Texas and Pacific. All three Of them were
strong in the early dealings and on lighter
transactions, Improvements were recorded.
extending in ~ Louis Southwestern pre-
fcrrcd to n, Ter cent. The stock men,
TONED Was about the only one in the South
western group that retained the full i'm
provement at the Close. although Missouri.
Kansas and Te xas preferred. IN nominal
sales. left on nearly a point higher han
Nfr'fibdN o'bfi ANYWAY hNuer NhaA ~
vanc-d In the first hour. included Canadian
Pacific. which gained and retained nearly
a puin, on moderate covering OF short con-
tracts. ~ Joseph n Grand Island issues.
At,hi-on common and II Paul. The buy
ing of Canadian Pacific was in expectation
Of an extraordinarily favorable showing
for the Cnmpanv's fiscal year
In the industrial depart ment the feature
was strength. and leadership over the en-
tire market IN point of activity. in tho
United States Steel shares. The buying
Wa attributed to anticipation Of the forth
coming statement Of earnings 81 tho cor
poraiinn. which l. expected 20 he decidedly
more favorable than any previous exhibit.
Tho common rose In extreme ? PER cent.
a. compared with yesterdays final prce,
and left on nearly a point higher. The
preferred on lighter trading rose an ex-
treme a. per cent. and scored a moderate
net Improvement. American Ice
issues declined sharply on light transac-
Although the dealings in railway
were of only moderate proportions,
the tone ~ that market was steady TO firm.
The resistance 81 securities generally 20
for a fail. despite the continued
fairly large selling all over the week for
account and the labor distur-
l. explained by the reports 81 the |
mercantile agcncios These show that a
business l. going forward. the effect
OF the coal trade troubles being still COM |
para'ively localized. and railroad Earning
ard bank cl.arings are largely in exce~s
Of last year
With some exceptions the agricultural !
Is meet promising. The pro-
yisional" anthracite strike began on NAV
~. 30 that the suspension Of activity will
ave continued six full weeks, |
during which time the community at large.
the coal Producing interests and the miners
themselves have been subjected 10 grca,
inconvenience and loss through the arti- /,
action of the United Mine Workers
,rg,niyation. A. has been pointed out,
h. coal that under ordinary conditions
would have been marketed has no, depre-
lated n p%artiol" in value, and will later he
a. considerably higher figures than
hose prevailing when abe stnke began
In the cases % the Reading
Pennsylvania and other companies the
.onnagc ~ soft coal hauled has been larger
han ever before.