The age-herald., 1902-03-15
IMPORTANT STOCKS WERE IMMOVEABLE Some Remarkable Movements Among 0bscureSpeciaIties HIGH RATE IN CALL LOANS The Market ls Fighting Hard to Face With Equanimity the Continued
 Gold Exports and Slender
 Surplus Reserves.
HIGH RATE IN CALL LOANS

New York March 14.-There were some remarkable movements today among the obscure speeialties but the important stocks were neglected and practically im- movable. Some important developments in the money market situation helped the stock market to face with equanimity the forecast of a movement of currency Of the week which promised to wipe out entirely the slender surplus reserves of the banks. The rise in the call loan rate above per cent, the highest of the year, indicated the pressure upon the money supplies. An announcement during the morning of an additional deposit of half a million dollars at the sub-treasury for transport to San Francisco emphasized the influence of the earlier drains re- ported. Altogether the banks were shown to be losers to the extent of upwards of S6,000,O00 since the last bank statement, including today's transfer to San Fran cisco Last weeks bank statement 1t will be remembered, showed surplus reserves of only $S,95S 425. During the day there came very heavy offerings of government bonds at the sub-treasury for redemption. This was the first of the withd'r3 wal at the governments offer to redev,a Sonds after tomorrow. The total reSemptions today ran up to $2 479, 554 ard as the pay ments are in cash they will show for one days average in tomorrows bank state ment. Consideration was also given to the fact that Standard Oil dividend of $20 per share is payable tomorrow, in- volving the disbursement of S20, 000 900 xUb ha wit of ha money market. The increased pressure for money today also led to renewed borrowing in foreign markets under which the exchange rate yielded a frac- tion.
 Light was thrown on the prevailing scarGry of commercial bills in the ex- charge market by the days statement of the February exports of agricultural products which shows a decrease com pared with las: February of $10,877, 96S. notwithstanding ar increase in value of cotton exports ot $2,3544,2 279. The state ment Of grain exports for the past week shows a continuance of these conditions the outgo of wheat falling to below B. ,000 bushels and the cotton exports showing only nominal figures, compar- ed with the corresponding week of last year Repaymcnts of foreign obligations by geld exports is only to be avoided therefore by t9VnS Dack on IOrelBH Creu- it's Ol other developments the settle ment of the Boston strike was fairly interpreted although some uneasiness still prevails concerning the settlement of the yearly terms with the anthracite miners The increase in the Southern Railway preforred dividend has been expected with great confidence, but the stock of that company advanced on the announce ment which aiao served to check a sell ing movement in the general list. There were some vIy sharp relapse among minor stocks which have been recently advanced on rlmors of consultations and abs Jr1tions, b,i: there were other strong points on sin ilor rumors The violent advances in the Westinghouse electric stocks on light transactions had noth- ing in the way of news to account for 1t.
 The Wabash debenture b's were active and strong; othe rwise the bond market was quiet. Total sales par value $3,995,- OOO United States new As declined Is; the old As Ii and the 5's h per cent on the last call.
 New York Stock Market.
 By Private Wire to Murphy & Ca