The Washington times., 1902-01-05
Known Increases in Re-
sources Not Reflected
in the Figures.
GOLD EXPORTS POSSIBLE.
Stock Market Closing Irregular, But
Firm in UndertOne.
RAILWAY LIST NOT ACTIVE.
RAILWAY LIST NOT ACTIVE
General Prices Higher Than n Week
Ago-United states Steel scores
New High Mark in Present Ad-
yance-PrGft Taking StilI n Fcu-
ture of the DeaIings-Tbe Outlook.

NEW YORK Jan. 4.-The weekly
statement of averages of the associated
banks was a disappointment to the street
in that it did not even reflect the known
increase in the resources of the banks.
The increase in lawful money was some
thing less than SO, 3,5C0000, whereas the net
receipts of cash for the week, chiefly
from the interior. are known to have been
more than twice that amount.
Factors influencing Loans.
The increase of over $1l,500.OoO in the
loans is not remarkable in view of the
preparations made early in the clearing
house week for compulsory disbursements
for interest and dividends on January l.
Other factors influencing the loans of the
banks were the redemption of Northern
Pacific preferred and the shifting of loans
from trust companies to banks.
The two changes noted are fairly ac-
curately reflected in the increase of over
s15.0O00O0 in the deposits. The increase
in cash was not. sufficient to provide re-
serve against these large deposits by
$4,000, and The surplus is accordingly
reduced by that amount to about 81 soc 600.
Possibility Of Gold Exports.
The circumstances enumerated would
foreshadow comparatively easy money
market were it not for the possibility
that Europe may renew its demands upon
this country for specie. OF course the
situation may change materially within
the period mentioned above should
rasrfrr,p ra,1r,basrc Of ca.ouri-ia-
in this market.
Todays stock market was moderately
active, and in many spots reflected the
extensive takings of profits that have
been in progress since the beginning of
the year. Chicago operators. it is be-
lieved, have been foremost IN tire trade
movement, followed closely by local
professional traders.
General Prices IIi-her.
notwithstanding this selling, the list,
with only a few exceptions, is higher
than week ago, and the usual end-of-
the-week evening up of contracts, prln-
cipaliy for long account, did not impair
the firm uBdertone OF the market.
The greatest activity was in the United
states SLGcl StDchS, anu ltief CiCStu al
the highest rrices recorded for them in
the present upward movement. Ameri
can Locomotive common was second in
respect to activity, and at the fractional
reaction in sympathy with the -elnainder
of the list it closed a point higher Than
last night.
Little Done in Railway List.
There was comparatively little done
in the railway list. Reading issues, Mis-
souri, Pacific, and Baltimore and Ohio
were depressed by profit taking. On the
other hand, Union Pacific and St. Paul
held their own, and a number Of less ac-
tive issues, notably Mexican Central,
closed materially higher. There was a
revival of interest in Distilling of Amer
lea that lifted the price of the pre-
ferred IL.
International Power, National Biscuit,
and United States Express were also ex-
ceptionally strong. There was no abate-
ment of interest in the bond market, and
a fairly large volume Of business was re-
ported from the curb
Closing Prices Irregular.
The more important dealings were in
Northern Securities. American Can pre-
ferred, Dominion securities. Pocahontas
Coal subscriptions, Hackensaek Meadows,
New York Transportation, and Storage
Power Closing prices showed some ir
regularity, but the tone was in the main
firm.