Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1903-01-04
IRREGULAR,
nr,s TN HANDS OF PROBES
e,osALs ALMOST ENTIRELY.
gYoLE RAILROAD LIST WEAK.
r,.s fn Operating Expenses OF
u,ads eutstrippins Grain I'm Gross
-,rptnss-animated Recovery on
Appearance of Bank statement
close Easy.

NEW YORK, January s.-specuiative
continent underwent several rather alb
r,,,. transitions to-day. Trading appar-
10y sss Ia the hands Of professional
onsrstors, almost entirely. The first dis
,iant movement in the market, after a Pc
-,oi OF istless fluctuations. followed the
publication Of the November earnings Of
me Pennsylvania railroad. The rate st
which the rise in operating expenses in
tnis representative railroad system was
s.eu to outstrp the gains IL, gross earn
inrs served TO enforce doubts caused by
g similar tendency which has become
general throughout the railroad world.
the Pennsylvania lines directly opera ted
November Of s6ai 800. but expenses in.
creased S, 3t2. 100, SO that net earnings de-
creased SD. 500. On the lines west Of
Piusburg and Erie there was reported an
increase in gross earnings Of So. GOO. with
& growth Of $500, 200 in operating expenses.
resulting in 9 decrease IN net earnings Of
sharply, under the influence of this show
Ing Prices in some Important stocks, IN
ending Pennsylvania. receded to point
or more below last night.
RECOVERY OF BANK STATEMENT.
There was an animated recovery upon
Tie appearance OF the bank statement,
sith its unexpected recuperation of s., 644.-
10 in the surplus reserve Of the banks.
such E. showing is almost unprecedented
ior the first week in January. In addi-
son the gain in cssh for the week reaches
b $4,000, which Is almost three million
io!ars in excess ce the largest preliH1i-
harry estimates. The redeposit Of cash by
the retail shops, making UP the proceeds
" Chrstmas trade, is attributed as the
sause of this showing. The recovery in
trtces met renewed heavy selling, and the
market closed easy anG with net changes
mixed. Amalgamated Copper and United
States Steel were notably firm through
suE Manhattan was weakened by the re-
su!rements MADE upon the company by
he State Railroad Commission for in
Teessd equipment,
BONDS SHOW STRENGTH.
Bonds have shown strength, in sym.
gathy with stocks, but the principal &C,
tivity has been in the speculative contsn
gent Of the paying issues. United States
IS. old IS. and new IS coupon advanced
IA per cent. as compared with the clos
ing call Of last week,
The sales OF stocks were 41s. LOO shares.
MONEY AND EXCHANGE.
Close: Money On call steady; all loans al
6 per cent: closing offered at S: time
money easy; all periods So per cent
prime mercantile paper, 6 per cent.
Sterling exchange firm, with actual busi.
ness IN bankers bills at s4-Sb.62p4szsb1;
for demand, and at s4.S3.s.vGs4. $3.50 for 60
day bills; posted rates. s4.ssGs4.sIss5; com
mereial bills. ss.s2s7ss@ss sS.
Bar silver. IS Ia; Mexican dollars
IS ID.
Government bonds steady raidroat
bonds steady.
BANK STATEMENT
The statement Of averages of the Clear
tng-House banks OF this city for the 6v'
business days this week shows:
Loans, s&75, 352. 100: increase. $50. 500
Deposits. sS7s, $4,000; Increase, 81, 1ei, 800.
Circulation, si5. To5 300; increase. s4S,Soo.
Legal tenders, s7s.eEs, 900; Increase, s..
iSo,6o0.
Specie, S15z, 9aS. 700: increase, S,25s, 400
Reserve. SOS az, 65oi increase. IS. 45S. 600.
Reserve required, Sals. 27s, 30: increase
81. 79o35G.
Surplus, s1o.1ss, $50. increase, ss.644.e5e.
TX United States deposits. $40, $4,000
Increase, s5,637.Iol.