Omaha daily bee., 1902-09-07
NEW York STOCKS AND BONDS.
Market opens strong, but weaken
when Bank Statement is Issued.

when Bank Statement il Issued.
NEW YORK, Sept. Elm the absence Of
London quotations the local market was
the market opened hrm, with much
strength Of undertone.. The excellent show
ing hSsi m2 rseo BY E SSps4teS : W stsFeSsth IN 10 us t Sat
stock, as we'll as others In the soft coal
group, but the upward movement IN On
ports showing heavy strike losses, was not
altogether clear.
set, presumably as a result of a decline IN
July earnings, but showed evidence of
support; closing With SItn a ,o net Loss 81 sSs P nrsl
vlous day, were fairly active, while the
Atchisons were strong, much OF the buying
The movement in People's Gas and
Brooklyn Rapid Transit appeared to have
i rom Srigin in h s6s SpeF 3ufins q the e R Ersp henr
Virginia Carolina Chemical, castiron. Pipe
Ms c6iossIPsRefiae "a s gtselI Pa stf; ri Mail Ma La:
clede Gas and the Cotton OH stocks.
was awaited with almost painful interest.
the list hating somewhat IN anticipation
Of q very unfayoTa6ie win In point
faithful reflection of the weeks operations,
although the loss of cash, amounting to
pectations. The decrease of almost $780,
600 in reserves reduced the reserve TO "a
097, $50, the lowest figure since last May:
influence OF the bank statement. st. Paul
and Peoples Gas making the greatest
than the active issues. A partial recovery
was effected by some of these stocks, but
the closing as a whole was weak and
Barring a temporary halt the market for
the week was generally stToag ana VERY
a return of the boom periods of the. last
few years, With the resumption Of bust
| ness on Tuesday, the entire list, excepting a
few issues, which seldom IL ever exert any
influence, moved to a higher level with
was we'll maintained on the second day.
resulting II a large NUMBER CT new nigh
especially the common, were very strong
speedy. termination OF. the pending litisa-
ket received its first douche. the primary
causes being a sharp rise IN call money;
serious injuries to the president. bear
rumors regarding the cotton crop and re-
pressiye measures applied by the conserya-
week was Reading common. which IN the
first two days was dealt in on an enormous
tive buying. Later this stock lost the
greater part of Its gain on heavy, selling by
the spe ,bn cdg1rn1 no r less than, than 70 v t9S
one of the main trunk lines. Pennsylvania
received considerable attention on the sec
cause Of its excellent trafnc returns, as
well as to rumors crediting II with control
and an dFNeMSdii Missouri La Paci IL 'n assumed w y sf ma rRs
leadership, the first. named selling higher
than ever before and r%eviyiIns rumors o. 9
strike in West Virginia was Of assistance
on the week with the hard coaiers. Elk,
cept for generally prosperous conditions
S 81 Rh &c iR %ers sSte rS15TGhS f foF tRsIT F mhin;
excellent crop reports and an all around
feeling of optimism. there was little TO ac
don was a factor throughout the week, al
though only on one OCCASION DID she buI
thing like $1,000. 900 during the week. $4,000.
600 TO the subtreasury, the balance to TIL
interior; As a result a system OF average
quite likely that this loss will show in tn,
weekly statement. although a decrease o
evitaSie. The Second furry in cali morsl
was not Of long duration. and the ctosinl
f fSe o1es TOT money me ~ 1S Ieme T,ms was m real,;
while in moderate demand, was not loaned
in any, great volume OF money. or rate
ments in. foreign exchange, but runors 0
approaching gold imports were held.
Of bonds followed sympathetically tn
course of the stock market. Dealings wer
rstRss irreg9las and there was a goo,
United States Is and So. coupon, and neV
Is. reststered. geined per cent and III
old As. coupon, 3 per cent as compared wit
The New York Financier his week SAYS
The noteworthy feature OF the ohie!sl state
last week was the reduction of S 6i5 us 4
the surplus reserve. carrying this item I
the surplus was S.ll2'sCo' The loans wer
decreased S,665. 200. making S22. 773. 200 4
three weeks. The specie tell on $3.50 20
duction Of $. 795, 500 IN cash. making tn
) loss IN this item since August 9, inclusive
1 1920, 100 The statement OF August so faile
i. 70 RaGaaN the lHaa ~ cash AZ ASTHMA "a
from the traceable movements of none
by t2,6S9, 200. Last weeks statement Shove
b was estimated on the basis OF these movs
ments. the average for the two week.
s therefore. seems to show that the estimate
: ment showing an average loss OF IS. $50, 10
while the estimates show an average los
5 OF s6.Sls.1O0. The deposits were reduced b
4 the amount called for by the local decreas
D in loans, and the loss in cash. hence tn
o seouired reserve ss No' Was deereaseS s1aM
which sum deducted from the loss OF cas-
!. leaves S4,Os7,0 as the surplus reserve. I'll
b circulation was Increased by s629. 900. NAL
d ing a total gain since August IS Of sl.O5a,O
which was distributed among eight OF n
o larger banks. The bank clearinEs for II
than IN the previous week. -Four OF II
q Wall street institutions show a decrease
S 100000 the increases by other large banl
to have been very important contraction
OF loans by any institution. The net loi
a In specie by seven banks was $500 900 ar
I; two Institutions showed a decrease
50. 5000 700, one 81 100000 and the other 1880
900. The whole statement appears qui
unfavorabie. because of the reduction
4, surplus reserve, the condition OF the banl
7; was probably better as regards cash this
was Indicated. The contraction In LOAF
which has been in progress during the Ia
e three weeks has probably reached Il
;, maximum. and there will most likely
comparatively small changes In this lite
IN the near future. II the low condition
" the bank reserves shall have the effect
restraining speculation, II will serve a go
purpose. Should money grow more acti
a, In the current week. as the result OF the
n low reserves, exchanges VIII most like
decline. thus giving some assurance Of II
Of ports OF gold from Europe and the hi
D. rates for money win probably Induce /