Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-26
STOCKS mac II We.
HIGHER AT THE OPENINGS, But
LATER RELEASING INTO nuLLNEss.
BANK STATEMENT FAVORABLE.
Traders nj Loss to Account for
Selling Movement Which Sets fin
with It's rnbIicntion-CIose of Mar
lsct Unsettled.
Which Sets I'm

NEW YORK. October 25.-The stock
market was inactive and generally high
.r at .o-day's opening, but later relapsed
into extreme du!iness. and failed to make
a response TO the very favorable BANK
statement. Iii the carly operations. ad-
vances were scored by Baltimore ana
Ohio Atchison, ST. Paul, Reading, Nor
.olk and Western, Union Pacific. and
Southern Pacific, as we'll as by Colorado
Fuel and Iron, and AmalGamated Copper.
Elsewhere, the list displayed little ANNA
ton. and no material changes. The Gould
stocks later became feature by rea-
son Of their strength, and there was
some good buying Of Texas Pacific, Wa
bash common and ST. Louis Southwest
ern. The dealings in Colorado Fuel gave
rise to reports OF competitive buying,
and that stock was again the feature OF
The day In point of ACTIVITY. though II
closed with fractional loss
The improvement shown by Canadian
Pacific was due to Increased earnings,
and Chesapeake and Ohio held steady. IN
spite of an adverse showing. The
strength Of Cotton Oil resulted from the
belief that consolidation with any kim
gred company would be Of great benefit
TO *.
Only the most favorable comment was
heard regarding the bank statement. and
traders were a a loss, to account for
the selling movement which set in with
its publication. The statement was re-
EarGed as q very correct exposition OF
local financial conditions. The gain in
cash was fully up 20 expect tons. but
the loan increas came as a surprise. and
was doubtless due to some of the weeks
syndicate operations. The Increase OF
over sl2,0900o0 in surplus reserves was
especially gratifying, and the liabilities
of the Associated Banks proved TO be
within ST. 100000 OF their resources.
CLOSE VERY DULL.
The market closed unsettled and very
dull. Net changes showed Improvement
over the previous day. but with the eXcep-
ton OF the movements in the speciai
class, this Including Colorado Fuel Con-
solidated Gas. North American. and New
York Air Brake. the gains were chiefly
fractional. The days business was bare
ly In excess of 100000 shares. Sterling
exchange was quoted at slightly higher
figure, but no Importance was attached to
this feature. The nominal rate for call
money was ~ per cent. The Sub-Treas-
ury paid out 500 900 for account of San
Francisco. and received the same amount
for transfer TO New-OrIeaus.
Railroad bonds We're considerably less
active. and showed decided irrcgulartty
throughout. United States IS and SIS
advanced IA per cent, and the As de-
clined IA per cent. as compared with
the closing call of last week.
The total sales of stock to-day were
200.50o shares including Atchison 1410O;
Baltimore and Ohio, 1900; Missouri Paci-
fc, 10000; Norfolk and Western. $685.
1900: Southern Pacific
$500: Texas and Pacific. 1920; Union
Pacific. 1000; Colorado -ltuel and Iron,
$1,000; Pressed Steel Car. 5,400.
MONEY AND EXCHANGE.
Money on call nominal; no loans to-day:
mercantile paper, 6 per cent.
Sterling exchange steady, with actual
business in bankers bills at s4S6.50@
s..s6.625 for demand. and at s4S3. 25aS4. So. so
for sixty days. Posted rates s4S4 and
s4.S714; commercial bills. a4.S2.50@s4.S3.
Bar Silver, so 3-S. Mexican dollars, 3s%
inactive. Railroad bonds firm.
BANK STATEMENT.
The statement Of the Associated Banks |
for the week ending to-day shows: Loans |
tS5e9I7. 600; increase. $5,526S00.
Deposits, sSS2, ESQ. 800; Increase. s19 559, 500 |
Circulation, $40, lbs, 800: increase. 50 30 500
Legal tenders, $50. 40, 800; increase, S2142,- |
100
Specie s169, 500; Increase. SIS. 800. 500
Reserve, $2SS. 49,. 500; increase, 81. 063. 100
Reserve required 500 e71 SS225; Increase
4 Ss9,S70
Surplus. sl7,7S1,415: increase, s12.l73.2
EX-United States deposits, S27, S31, 500;
Increase, s12.199,575.