Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-03-14
Satisfactory Bank Statement
Helped Stocks.
s TR0NG AT CLOSE
WEAKNESS IN CONSOLIDATED GAS
WAS A FEATURE.
Amalgamated Copper Also Attacked
by Bears-Erfe Issues Again
Showed Strength.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, March 14-Londcn prices
for American railway shares again showed
fractional recessions from our closing fig
ures. Tai 90 .ls's
In the local market opening changes
were slight, with the exception of Consoi-
dated Gas and Amalgamated Copper. both
Of which acted heavy. The former feeling
the effect of taxi Of municipal ownership
Of electric lighting; plants, owing to the
agitation in the city over the poor quality
of gas now supplied BY that company.
The stock declined sharply over points
on selling occa stoned by the above develop
ments. In copper shares the tendency In
London to check the advance In the price
of the metal and the free profit talking
which has been INDUCED. In here for the
past few days led to renewed liquidation Of
long stock to secure the profits that have
occurred thereon in the good advance these
securities have enjoyed during the past few
weeks. Reading and Erie both continued to
show good strength on buying, said to be
in anticipa ton of the good February state
ments which both roads are expected to re-
port in short time = 3.
st. Paul acted firmly from the start the
price keeping slightly above yesterdays
lowest level, and the stock was easily rail-
lied s.s.r .-.ss. ed, .....,.s5..
Union Pacific and Southern Pacific fuc-
tuated within very narrow limits, and there
was nothing new in the keene-Harriman
quarrel. '-s'-sf- eos $50. 'f--+-
Sugar continued to show rather erratic
fluctuations. The opening price was at
about yesterdays final. 1t then rallied, to
1251s and later on reacted to about opening
figures.
Commission house business continued
dull. and the traders generally were disin-
clined to trade pending the appearance OF
the bank statement, over which there was
a good deal of speculation as to the show
ing it would present. -
After the first hours trading, In which
prices held slightly above opening figures.
there was little more activity to the spec
ulation, and prices improved fractionally.
The appearance of the bank statement.
which was better than the average trader
looked for There was little covering by
the shorts and some bidding up of special
ties around the room, which led to another
continued to the end of the session, and
which may extend over Mondays early
market.
The weekly bank statement follows:
Reserve on all deposits. increase. $751;
G25; reserve on all deposits other than
United States, increased. $3.50. DO: loans.
decreased. SIS, 800; specie. decreased, 49,
800: legal tenders. decreased, 1851 600;
deposits, decreased, S20,4II,7O0; circulation.
increased S1S,2G0.
1t will be seen by the above statement
that the banks lost in lawful money 81 ,762.-
400; deposits, decreased, $50 AT. 100, and the
loans decreased $15,O92 800 Crhis decrease
however, appears to be about S600.0 out
of the way. ~
The net result leaves the surplus reserve
at 81 024 600. While the decrease in cash
was heavy, the decreases in the other
two important items somewhat more than
offset 1t. The statement is about what the
larger interests in the street expected. ana
on the whole cannot be viewed as unsatis-
factory. Although the market closed with
fair rally in progress, trading was very
narrow, and there was not much snap to
speculation.