Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-09-06
FINANCE AND TRADE
Bad Bank Statement De-
pressed Stock Market.
w AS WEAK
HIGH CALL RATE ALSO A BEAR
FACTOR.
Feature Of the Day Was the Activity
in Certain of the In
dustrials.
Special Dispatch to The Evening Star.

Special biSDatch TO The Evening Star
NEW YORK. September 6-There was No
session or the London stock exchange ~
Day II being cleaning up day"
In the local stock market the opening
prices were generally firm. but trading was
still restricted to a few OF the special issues
In the Industrial department however.
there were some decided changes Cast
Iron Pipe. preferred, improved about six
points; Republic Iron and Steel preferred
Steel Car, Colorado Fuel and Iron. and
virginia Carolina Chemical were all strong
at material advances
In the railway list. Missouri Pacific was
the most active and was aEgressIyely
bought by the pool.
In most of the other prominent railway
shares there were small fractional losses
after he initial dealings.
The local traction issues were stronp
with quite a sharp advance in BROOKLYN
Rapid transit. this stock gaining H. per
cent In the first half hours business on
terest. "
Extreme caution. however. was shown by
the trading element before the publication
OF me bank statement, and before its ap-
pearance there was some profit taking
Whch caused somewhat lower range OF
prices all around.
Reading acted rather heavy from the
start, and soon lost a full point the etotc
ment for July showing a deficit OF s5i7 on
only S254. 1913 of this amount was sbon,,, a.,
the railroad ny
me bank statement, when published was
round to prove about as poor as had been
looked Tor, and there was a general attack
upon values on the exhibit. In this selling
movement prices receded from 81 TO | ner
cent IN most of the active issues bur a
Httie later on recoveries of fractional
amounts took place on the belief that high
money rates here. which are looked for next
Heek' might tend to Importation of gold in
the near future.
Missouri Pacific and BROOKLYN RanId
transit were the best supported stocks In
the reaction and both issues closed near
top prices, the former stock in the early
trading having reached a little higher figure
than yesterday
The industr;als generally. with the excen-
ton of Sugar, which lost about / per cont
on renewed talk Of competition OF new
opfeckles invention. enioyed strenpfh
throughout most of the session.
flnal changes were somewhat irregular
nut the tone was fairly firm. with some
fractional recoyeries in the active stocks
The banks. according to the statement
eoSt - t9S,eN In cash. Deposits decreased
Slz,Sn.o0. reducing the required reserve
Dy S5,lJooO. Loans were further decreased
S5,oo',2o0 The net result leaving the sur
plus reserve at 81 .097, $50
Inc statement In full. follows: Reserve
decreased S., 6i5. T25. loans decraa sed ca 6s5
100, specie decreased s.. s33. 200 legals de-
creased S2962 coo deposits decreased SIo-
oo,Joo, circulation increased 1929 200: gov
eminent bonds were unchanged railway
bonds strong. Total sales of stocks 4os 2po
shares, of bonds 81, $50 900 In view az tba
poor showing by the banks the stock mar
ket recent advancing tendency will prob
ably be somewhat checked and purchases
except on good reactions, are not advised
by the larger commission houses.