The Birmingham age-herald., 1902-09-15
KEEN INTEREST IN
 BANK STATEMENT
There Were Fears of Utter
 Wiping Out of Reserve
SHOCK MARKET STRONGER
Event of the Week Was the Placing of St. Paul Common on a Seven Per Cent Dividend
 Basis.

New York, September 13.-Some assur- ance was imparted to the market at the opening today by reason of a better demand from London and early news of the governments decision to anticipate October interest on bonds but the list generally was dull and inactive during the first hour. Commission houses did very little and foreign houses were mod crate buyers. Many conditions were more favorable and contrary to custom Rt the weeks end there was a brisk demand for call money which ruled at per cent. Slight pressure was directed against some issues in the early trading, but support came later. Rumors of gold Imports were again surrent. but appear ed to have no foundation in fact. It was clearly shown that the rate preclud- Ed engagements except at a loss.
 The keenest interest was evinced in The bank statement because of the many pessim;stic reports and fears of an utter wiping out of the surplus reserve. AL though this item shows a decrease of nearly S39S2,00O there remains on balance more than S70O,O0O. the result of a heavy shrinkage in the loan account. The statement proves beyond doubt that a number of banks are at this time much below the legal reserve requirements. The loss in cash-slightly over $I00000O- was about up to expectations. The mar ket appeared to take kindly to the bank statement and this, together with the ac- ton of Secretary Shaw, brought increas- ed activity with improved prices to number of leading issues, including St. Paul, Reading, Pennsylvania, New York Central, Missouri Pacific Illinois Gen. tral, Louisville and Nashville, Baltimore and Ohio and Sugar. The close was Strong and active.
 The event of the week was the placing of St. Paul common on a per cent divi- dend basis this action having been advo- cated, it is said, by the strongest interests fin the road. 'The street" attached no ordinary significance to the increase, in view of the roads established reputation for eonserva tism. but the stock failed to make response in this market or abroad Reports that George J. Gould is to be- come a director in St. Paul gave weight to stories of a St. Paul-Missouri Pacific alliance. The course of Missouri Pacific was interesting that stock touching a new high record with St. Paul and both selling off approximately. Another event was the decision of the Baltimore and Ohio directors to issue SAP, 500000 new common stock, part of which had been authorized last year. Impressions are cur rent that some news dealing with the general railway situation in the south will soon come out and that the settle ment of the Louisville and Nashville Southern railway matter will bring bene- fits to the Seaboard Air Line and the Att antc Coast Line.
 Call money fuctuated wildly, the rate ranging from 319 per cent early in the week to 15 per cent on Thursday and 20 per cent yesterday.
 The bond market during the week was unusually active, with a large percentage of the dealings in Wabash debenture Bs, which at one time showed gain of over points resulting from the heavy specu- lative purchasing movement. The market generally was firm in sympathy with stock manipulation
 United States 3s advanced A, the new