Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-05
LAST PRICES DOWN.
rowEa Lrsv,sI. THAN THAT OFF FRI
DAY .reR MOST PROMINENT STOCKS
COAL CONFERENCE FAILURE.
Sn,- Prevent. recovery which
wou,o Nnsnrnr,y Have Followed
from nesutaston of fridays False
numor..
r,owHa LEVEL THAN THAT OF FRI
nAY ron MOST PROMINENT srecKs
COAL CONFERENCE FAILURE.
49,. prevents recovery which
numork.

NEW YORK OCTOBER S.--i'iot1
,,,,,ch confusion and excitement In 10
any.s stock market again. which resulted
q, ,,s. nr,ces a. a level from TO points
lover than last night, for most OF ''e
prominent stocks. Tho failure OF inc c'a'
conference ut Washington to effect SET
Element, prevented the recovery "h4e"
would naturally have followed from '"e
refutIns of yesterdays false rumofs VA
tho Comptroller Of the Currency 'iao
,yorruIed .he decision of Secretary Sna"
10 remit the requirement upon ha''o''''
banks 10 maintain n . per cent. resei 70
against government deposits.
RANK STATEMENT UNCHANGED.
.f,o, a., cf.etjye recovery, the market
,nosiuea a second shock from the appear
600 ~ The bank statement without
change in lis form TO indicate the reouc,
Jim in reserve requirements permued
nv Secretary Shaw. That is TO say. gov
prnmen, deposits are still 'nclnoed Will
the total deposits. and the reserve req .
-ne,,t estimated at Is per cent OF the TOTAL
with the result that a decrease IN the sur
Mus is indicated OF S.Ahs2a. hrlnsiliS
Gown that item to $1.Sl9.aoo The ciearIhs
fou.e committee was long in session be-
! fore the Ddnh SiHttlH1itI ''"'' g.
and no statement accompanied 1t TO sho"
,.na, nolicv dictated it, a foot-note TO
she hank statement gives the amount OIL
Government deposits with clearing mouse
hanks Whatever may be the motives
smpelling the action OF the clearing mousse
the operators in stocks jumped to the con-
cl,tsion that for stock market purposes
the position of the New York banks is 10
be regarded as though Secretary Shaw
railing was not III force. The fact remains
however, that the secretary's pern,lsslte
attitude upon the banks is afaliapie ~
case Of a determination by the clearing
house to change its decision or TO relax
dts rule nj it's cwn discretion.
A PROBABLE INFLUENCE.
The marked strength Of foreign ex-
changes as a result of the week S easier
money market; and the shutting off of any
hope OF gold irlports, or even with some
apprehension OF possible demand for gold
exports. probably influenced the clearing
house authorizes.
Prices of bonds were well sustained
Uufted States old As coupon advanced Z
per cent, and the new As declined Il per
cent. as coIr1nared with last weeks clos
ing call rrssog
The total safes of stocks to-day were
R9S. 400 shares.
BANK. STATEMENT.
The weekly bank statement was issued
to-day. in the form heretofore used, with
the addition OF a line giving the total of
government deposits. The statement
shows!
Loans, $751;. 303 700; decrease SI,S7S.100.
Deposits ss1.a,l760GO; decrease, s4,343,10o.
Circulation. s65,66O. 900: increase. $3.50, 900.
Legal tenders, s6S593,soo; decrease, ST.
T92 300
Specie s151 $50 800: decrease. $4,000.
Reserves, Sis, S63, 200; decrease $2.50S. 200.
Reserve required, s2lS,oi4. 900. decrease,
81, rS5,715.
Surplus. Sl.S192oo; decrease. s1,417,425.
Amount of United States deposits report
ed, s40,769 800.
MONEY AND EXCHANGE.
Money on cali quiet; only one loan at
s5s per cent; closing offered at 31s per
cent
Prime mercantile paper, 6 per cent.
Sterling exchange firm. with actual bust
ness in bankers bills at 4.S6.3715d4 S66225 for
demand and at 4.S3 l25654 .S3.375 for sixty
Day bills. posted rates 1881 and 4.S7. Com
nercial bills. 4.S25s@4S2&4
Bar silver. 50%.
Mexican dollars, 40il.
Government bonds easy, State bonds in
pctive, railroad bonds easy.