New-York tribune., 1903-01-25
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stock market trading again light in vol
ume while prices exhibited the irregularity that
has been so characteristic of speculation in the
last two weeks. There firm undertone IN
the early dealings but more net losses than
gains at the close. Sentiment more cheer
full, owing to the reassuring advices from Wash
ington regarding the attitude of the United
States in the Venezuelan trouble, and to the be-
lief that this country would not become in
voved with foreign powers a result of Ven
ezuelan developments. The German admiral IN
charge of the German fleet in South American
waters asserts that the guns Of Fort San Carlos
opened fire the Panther. and that the bonn
bardment was merely the result of the aggres-
siveness of the venezuelans. According to Wall
Street opinion there is no danger Of trouble be-
tween this country and Germany if Venezuela is
the aggressor: hence Wall Street is easy in
mind and willing. perhaps to forget Venezuela
until some new development from that trouble
some part of the world arises.
The weekly statement of the Associated Banks
made q favorable exhibit. showing a further
heavy expansion in cash and reserve holdings
Cash increased 50 Id 900 and reserve above
legal requirements increased S6.13I.Soo to S2o.-
414 915. which compares with so 332 400 at this
time a year ago and $50 99,450 in the same
time in 1901 Loans increased S4,394,000 and
deposits S11, 100000 Total deposits now stand
at 1912 S12 100 ard loans at SS90.44S,000. The
record for deposits was made in the week or
February 81, 1902, amounting to Sl.ol4'4'4'Zoo.
At that time loans were 1896, 151 900 Money
rates have been easy throughout the week.
while sterling exchange has been firm and not
far from the gold exporting point, although the
decline in the English money market and the
advance in sterling in Paris will no doubt delay
gold shipments for some time to come The
nurchase of the Panama Canal property by this
government will require a remittance of S4O,-
OO00O0 10 France, part of which will un-
doubtedlv go in gold. 1t is announced that the
Treasury will not withdraw any of its deposits
from national banks to meet this payment. Ihe
pavment of 0000 600 by this country to Spain
following the Spanish American War was ef-
fected without the slightest disturbance in the
local money market.
There was active buying IN yesterday
market. trading again being made up of the
small operations of professional dealers. IN the
early recovery St Paul, Erie first preferred
Reading. Missouri Pacific. Canadian Pacific ana
Union Pacific were prominent In the lndustIlai
list Sugar Refining recovered fractlonally, puI
Amaleamated Copper failed TO hold 1ts carry
pain Pressed Steel Car opened up a point, ana
Tennessee Coal and Iron was nrm. IeAeial
Electric sold up point. The local tracuoil
group was irregular, Brooklyn Rapid transit
making a fractional gain, but the other issues
showing some losses. The early advance was
fnIIozved by reaction and, despite the favorable
down before the close. This selling was on tne
theory that adverse news might develop over
sunday There were few losses amounting 10
more than fractions.