The Washington times., 1902-08-24
Majority of Stocks Close
Higher Than Last
Saturday.
THE MARKET STILL STRONG
Profit i Taking Follows the Publication
OF the Bank Statement-T Volume
Of Dealings a Fairly Large One for
Half Holiday.

NEW YORK, Aug. 23.-The statement
OF averages of the associated banks was
entirely in line with the estimates pub
lished this morning. loans showing n
decrease of so. O.46O, 100, and deposits a
decrease of S11, $40, 200. There was, how
ever. decrease in cash of about as
much as the expected increase, and the
result was an increase in surplus re-
serves of s2,616, $50. bringing the total
OF that item to 50, 743 $50, compared with
surplus of s1S.14S.100 year ago and
one of S23, SIS, ,925 two years ago.
AS had been foreshadowed, the greater
part of the financial accommodations
extended to Wall Street this week
came from institutions not in member
ship with the New York Clearing House
Association, and it is also probable that
the leading institutions readjusted their
accounts, incidental to the sharp break
in Colorado Fuel and Iron and the less
important declines in number of other
stocks about the middle of the week.
With the banks holding surplus re-
serve OF only about half of last years
total, the statistical position Of the
money market must obviously be taken
seriously into consideration. This is
clearly evidenced by what appears to be
the starting up today of the usual early
autumn demand for crop moving pur-
poses from the West.
Transfer of Money.
Late this afternoon there was trans
ferred through the subtreasury $500, 900.
Of which $500. goo, in two lots. was for
warded to Chicago and the balance to
New Orleans. This makes nearly ST.
000,0Ge transferred this week
The volume of dealings was fairly
large, considering the short session, but
more than half of the transactions took
place in eight stocks These were
Southern Pacific. which led the entire
list in activity and closed nearly 2
points higher; Western Union Tele-
graph. which was second in point OF in
terest. and closed at net gain of near
ly point, and at the highest price of
the day; Union Pacific. Norfolk and
Western, Ontario and Western. Colorado
Fuel and Iron, Pennsylvania Railroad
and Erie.
With these exceptions few issues ap-
preached the 5000 share mark. The mar
ket opened with a fairly brisk move
ment. halted. and finally became irregu-
lar owing TO proft-taking on the publi-
cation of the bank statement.
Advances in a Majority.
The net changes in the more active
issues were divided on both sides of the
account. and in few cases reached a
full figure. The majority OF the entire
list however. showed advances.
On light dealings strength was dis
played in Erie preferred issues, Evans
willie and Terre Haute, the 500"
Etocks and in Canadian Pacific Colo
rado Fuel and Iron was the only indus
trial stock that attained real activity.
and IL finished at net decline OF over
point The United States Steel issues
were neglected.
The railway bend market was quiet.
but drm for most issues. In the curb
market. dealings were light, but the
tone firm. The features were Amer
iean Writing Paper Virginia Coal and
Coke stock, Montreal Boston. ana
White Knob Copper shares and the new
Rock Island common. The stock mar
ket closed strong.
Gains Over Last Week.
As compared with the final prices of
last Saturday, the majority of stocks
ere higher. The more important net
advances are in Southern Pacific. 424
per cent; Louisville and Nashville, 3ss
Ontario and Western and Norfolk and
Western "a each; Canadian Pacific.
~; Tennessee Coal and Iron. IA Chi
cago Great Western. IL: Amalgamated
Copper and Pennsylvania Railroad. u.
each, Erie. Reading and Union Pacific.
IL each Chicago and Alton. Reading
fecond preferred, and Southern Rail
way. ! each; Erie first preferred. u:
American Car and Foundry, American
Locomotive, and Reading first preferred,
:. each. American Sugar Refining.
Atchisor. and Baltimore and Ohio. q
each. chesapeake and Ohio and Mar
haitian Railway, y per cent each.
The noteworthy declir S are in Colo
radO Fuel ani Iron. lilz per cent. and
Metropolitan Street Railway, Is per
cent.
Few York Stock Exchange. Aug. "a.