The Birmingham age-herald., 1902-09-17
STOCKS SHOW SOME SIGNS IF ACTIVITY Tension of Money Market Re- lieved and List Responds VOLUME OF TRADE SMALL St. Paul, Louisville and Nashville and Other Prominent Railroads Fall
 a Point or Over On 13 Per
 Cent Money Rate.
VOLUME OF TRADE SMALL

New York September 16-The tension of the money market was somewhat re- lieved today and stocks responded with struggling recovery but the repressive effect of the money situation was not demonstrated by the subsistence of ac- hvity in the market, the volume of deal lngs falling below half a million shares for first time in several weeks Late yesterday it became known that s2,5O0, 900 of gold in transit from South Africa to London had been secured for New York.
 This failed to reassure sentiment imme- diately and prices of stocks declined dur ing the morning.
 St. Paul. Louisville and Nashville. Reading, Norfolk and western and Wa bash fell point or over when an open ing money rate of B per cent was re- ported A relapse to ten. per cent was followed by a rally and the rate fell to six per cent in the afternoon. Recov- cries were general and the Gould group, the Wisconsin Central stocks and Amal- gamated copper and some of the inde pendent steel companies were notably strong. The report of an additional ship ment of $1,25O00o in gold from Australia, of S1,OO0,0 900 from London tomorrow and of the arrival at San Francisco today of a s70O,--- installment helped to reassure sentiment. There was a prominent re- covery in sterling exchange in response to the gold engagement and discount rates hardened in London and Berlin, fol- lowing yesterdays lead by Paris. Further gold imports were thereby rendered un- profitable.
 he conviction grows that foreign gold supplies must be looked to for relief of he New York market. In this connection 1t Is interesting to note that the great foreign reserve banks are we'll equipped to meet the demand. The gold in the Bank of France is nearly $40, COG, ,000 great er than a year ago. It's note circulation aas expanded over $15,0O00O0 in the same time, but it's discounts and advances are f550O000 less
 The Imperial Bank of Germany has over sl2cOO,0OO gold more than 1t had year ago, while its discounts and ad- vances have been reduced upwards of s50000, and it's note circulation also Is slightly less The presentation of checks to the sub-treasury for the anticipated oVernment interest was much larger to- day than yesterday, but their effect on the money market was again couuteract- ed by tho deposit at the sub-treasury of s400,000 to gn forward to New Orleans. Although the applications at Washington for government deposits are reported to have taken up all of the available A,20o,- poo of free government bonds, it is evil dent that none of this increase of deposits will come to New York, while the eager iess of outside points to secure the de- posits Is cited as evidence that the ur- gent demand for morey is by no means localized in New York
 Bonds were dull and irregular in sym rathy with stocks, steadying after the rarly heaviress. Total sales. par value, B, 900.
 United States new As advanced F and the old 4s s per cent on the last call