The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-11-30
FINANCIAL AND COMMERCIAL.
SATURDAY, Nov. 20.

SATURDAY, nov. ~
To-day's stock market was. on the whole.
a dull and narrow affair, such ~ would
logically be expected, indeed, on Sat
urday's half-holiday under present CON
di,ions. Especial strength was manifested
however, In one or two important pace,
on the security list. and the fact did much
90 coun,eract what would other"ls" nav"
been the hearish effect of an uhfaNorab'
hank statement, The bank statement
showed "A smaller loss in cash than had
been expected, but an increis" IN loans ot
sIl .eOs, 500. making IA" total loans of instl-
buttons subject to the INSPECTION of She
Clearing House only about S,g0ooO less
than The nut deposits held by them. The
increase in loans was currently accounted
for by the greater willingness Of the lanks,
recently, to make time loans and to more
freely purchase commercial paper 4 bet
Ter reason, perhaps, II that remttancc-
abroad in payment of maturing foreign
loans have n"rr's arilv caused an increase
IN the loans of domestic institutions. 1h"
surplus reserve decreased s3,7i3,615 and
now stands AT l57s6,3oo. or, calculated
without reference To ia" Government de-
POSTS, a, So. .77j. The market weakened
after this statement. hut rallied before TN"
close No special selling preSSur" was
manifested. The conditions revealed do
not indicate any 20, sib.lity uf "A lower
rate for time money in IN" near future,
and the reasonable probability Is that
higher rates for call money viii b" seen
next week Imports Of merchandis" NJ
'he port for the week wer" less than last
week. but mora than those IN the cor
responding week last year. The attention
of the Street during the day was occupied
with the contest for the control Of the
Colorado Fual and Iron Company and with
the upward movement in Brooklyn Rapid
Transit Agents Of the various parties
IN the struggle for the possession of the
Colorado company are visiting brokerage
houses, Offering all kinds Of moral induce
ments and AZ times paying round premiums
for the transfer 10 them of proxies on shares
held by those houses or hy customers
thereof for Use in the struggle. An opt-
mistic view continues To prevail as 10 the
influence Of This warfare in the railway
world The only reason for believing that
railroad interests will get MIXED up in the
battle is the bitter personal feeling mani
Tested bv tho comhatants: but until some
definite assurance to the contrary IL al
forded, the conclusion will be- that the
various Gould and Hartman railroad
concerns will remain unmolested cut
rates and freight wars seldom occur when
the railroads have more business than they
can take care Of
The strength and activity in tho Prook-
lvn Rapid Transit shares which have Le.n
noticed for some DAYS pat and were ve-v
much in evidence to-day are probably due
TO certain general and specific circum-
stances. The general circumstances are
the great change in the state of local trans
portation interests accomplished by the
lease of the Manhattan Elevated Railway
system to the peterborough Rapid Transit
ompany. 1t seems almost inevitable tina,
sooner or later there should he some gem
eral consolidation OF all these Interests
in the Greater New York. Many of the
large stockholders in the Int.rhorougn
company, for instance, are also largely
interested in the Brooklyn Rapid Transit
md Metropolitan Street Railway Com
panies. The control of the Long Island
Railroad by the Pennsylvania Railroad