The Birmingham age-herald., 1903-08-31
DEALINE ARE OF
 LI7EE MOMENT Few Promlbt Stocks Cover
 Rangetone Point MONEY I9 hto 'hl0 'tD Banks Fail to shl the E~Pess'' '" crease-Exchsngl ''s '''" e"
 Appesrance- nos o"are
 ,n c.neraIla laIIness.

New York, August %No sisiiiiios'ii'e can be attached to todaf sinai oeaiiiss in stocks by a handfutl proiessionai room traders. Very few llniiieh' stochs covered an extreme rangA as nucn as a point,and the market hiiaeeo uhoei tainly in the interval. ThaE"e'e ie" advances at the opening WI may nave been due to the contradicti3l me nrst reports that the United Stat1 1ice eonsui at Beirut had been murderedAo ou'siue response came to this movent anu 'ne traders sold the market off III carry o.,roa..t,o,, ,bo+ inc hank tatement i, would not be as good as the foTs's !" dicated As consequence the R pdnN s.a.oan+ vos followed bv marking in .,.~...-r.,-o4 a,,o f., oover,ne, bv eaAshort sellers, and the market closed f pue practically lifeless and level n's higher than last night.
 The banks show an increase in cN ol only $1 ,205 900, where a gain of upN's of $2,O00,000 was expected. and the Hn account was again expanded to the eS of upwards of s5, ,OOO, 900. This loan incr4
  of the money market. as it is suppoA to be due to putting out at remunerauA call loan rates by the banks of funds dS posted by the trust companies to take adi, vantage of the rate paid by the banks or deposits Besides this, sentiment on the money market outlook has taken on a tone of assurance since the announce of plan to increase government deposits with the banks to the extent of S4O,- 100000 if necessary. This plan comes Tn for a, good deal of discussion Tn Wal street by reason of the new contention involved that internal revenue feeeip's if distinguished in the bookkeeping, may be transferred to the banks even though they have been received by the treasury Hitherto internal revenue receipts nave been considered available for deposits III inc banks only as the payments were made. But the knowledge of resources In reserve for the money market overrides other considerations.
 The stock market has come practically to a standstll this week, and towards the latter part of the week the daily az gregate dealings have fallen to a lower figure than on any full days trading since the summer of 1900. This is ln some part due to the interest among members of the exchange being diverted to the yacht races and to the large num- Der of belated vacations among the members.
 During the past week exchange bills have made their appearance in the mar ket in anticipation of the demand for movement of supplies, and foreign bank ing houses have also been lenders Of money on time to an important extent in this market. The firm tone of the time money market, and the high rates s paid on prime mercantile paper are suf- ficient evidence that money Is not in abundant supply. and that care and con servatism is exercised in lending it. But 1t is expected among bankers that legit- innate requirements for trade and com merce may be met without trouble Mean while capital holds aloof from commit ments to fixed form, as indicated by the failure of the bond subscription plan of the Consolidated Lake Superior com pany. Reports are numerous of efforts by various industrial corporations to ob- tain temporary loans There is a resi- due of apprehension lest a pinch in the money market should uncover weak spots due to over extension in the coun- try at large
 Bonds have shared in the dullness and sluggishness of the stock market. United States old As advanced i4 and the new As registered declined A per cent as com pared with the closing call of last week.