The Birmingham age-herald., 1903-08-30
DEALINGS ARE IF
 LITTLE MOMENT few Prominent Stocks Cover
 Range of One Point MONEY IS RESTRICTED
Banks Fall to Show the Expected h. crease-Exchange Bills Make Their Appearance-5onds Share
 In General DuIIness.

New York. August 29.-No significance ran be attached to today's small dealings in stocks by handful of professional room traders Very few prominent stocks covered an extreme range of as much as a point. and the market fuctuated uncer- ftanly in the interval. There were few advances at the opening, which may have been due to the contradiction of the first reports that the United States vice consul at Beirut had been murdered. No outside response came to- this movement and the traders sold the market off on an early , expectation that the bank statement would not be as good as the forecasts in- dieated. As consequence the poor bank statement was followed by hardening in the market due to covering by early short sellers, and the market closed firm but practically lifeless, and level slightly higher than last night.
 The banks show an increase in cash or only S1, ,205,0 900. where a. gain of upwards of s2,000,00O was expected and the loan account was again expanded to the extent of upwards of $5,OOO,OOO This loan increase is in reality measure of the inactivity of the money market, as it is supposth to be due to putting out at remunerafive call loan rates by the banks of funds de- posited by the trust companies to take ad- vantage of the rate paid by the banks on deposits. Besides this, sentiment on me money market outlook has taken on tone of assurance since the announce ment of the secretary of the treasury plan to increase government deposits with the banks to the extent of S40,- 100000 if necessary. This plan comes in for a good deal of discussion in Wall street by reason of the new contention involved that internal revenue receipts If distinguished in the bookkeeping, may be transferred to the banks even though they have been received by the treasury. Hitherto internal revenue receipts have been considered available for deposits In the banks only as the payments were made But the knowledge of resources III reserve for the money market oVerriues other considerations.
 The stock market has come practically to standstill this week, and towards the latter part of the week the daily az gregate dealings have fallen to lower figure than on any full days trading since the summer of 19O0 This IS ln some part due to the interest among
  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 or money on time to an important extent In this mafket. The firm tone Of the time money market, and the high rates 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 rnerce may be met without trouble. Mean while capital holds aloot from comm!t- 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 A and the new As registered declined A per cent as com- pared with the closing call of last week.