The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-08-28
SiUCk UEALS DUll
Dealings Were Smallest of
Record for Three Years.
ATTENDING YACHT RACE
Brokers Are Taking Vacations
Quite Freely.

New York, Aug. 27.-Dealings in stocks
were smaller today than for more than
three years past the aggregate dealings
reaching only about 15e.c9o shares. Trad
ing by room professionals made up the
entire market They attempted in the
early dealings to continue yesterday
downward course and succeeded TO the
extent OF a point in few stocks Cover
ing of shorts befgore the end Of the day
caused a practical recovery OF declines
and the market closed dull and heavy.
and not appreciably changed from last
nights level. The dwindling interest in
the yacht races did no result in any in
creased interest 10 the stock market. and
many members who came down this
morning did not stay the day out. The
preliminary annual statement of Erie,
showingg nearly per cent earned on the
common stock accorded closely with eN-
pectations and resulted in profit-taking
sales, and which carried the price at one
time a point under last night. Disappoint-
ment over this movement reflected depres-
sion of other points in the market
The news OF the murder OF a United
States vice consul in Turkey was assigned
as the motive for some selling here for
London account, but the incident awaken
ed little apprehension in our own mar
ket. where it was assumed that the
Turkish government would make all the
reparation demanded. The days weather
map was regarded as unfavorable for
1
Philadelphia account were commonly sup
posed TO be due TO the exigencies OF the
coming reorganization OF the CONSOLE
dated Superior company. The trade re-
ports in iron and steel were distinctly
more cheerful and indicated growing de-
mand at the concessions now ruling For
eign banking houses continued to make
loans here in spite of the large with
drawals today Of gold in the Bank of En-
gland. This had the effect OF causing a
somewhat easier tone in the time money
market. No large interior demand for
currency is yet evident. while in the week
ending August 50 OF last year there were
large transfers both TO New Orleans and
TO Chicago. Previous to that week last
year there had been the usual assur-
ances that western bank reserves were
so large that small requirement of
eastern reserves was probable. But for
the week ending August 30. New York
bank reserves declined Sc, Cos, 400. on Sep
TENDER g. there was an additional shrink
age of Ss.795. 500. On September Is the
decrease was s7.0Ss. zoo. and on September
% a further decrease of 1913, 200. with a
deficit below the legal reserve OF sl.e42, $50
This occurred Notwithstanding a loan
contraction from August 20 TO Septem-
Der 20 of more than SO. 10000. The Sc
we're experience OF this precedent more
than anything else has prompted the con-
servative and cautious attitude OF the
banks recently, and although the usual
movement Of currency 10 the interior is
now expected. the opinion is now brewing
that the banks have so carefully provided
for it that they will be able 10 meet re-
quirements without a severe strain on the
money market
There was slightly more breadth TO the
bond market than TO the stock market
but it was duh and irregular. Total
sales. par value. 1.095.OoO United States
bonds were all unchanged on the last
call.
Closing quotations were as follows: