The Montgomery advertiser., 1904-10-16
THE FINANcrERs STATEMENT.

NEW YORK, Oct. 1s.-The Financier this week says:
 The official statement of the New York associated banks last week was very en- couraging exhibit though the cash gain was much below the estimates which were based upon traceable movements of money during the week. The decrease in deposits from corporation loansa was so great as to cause an important gain in surplus re- serve It seems surprising when the fact is considered that the. estimates showed that the banks had gained heavily in cash. chiefly through receipts of Australian and Japanese gold and of domestic bullion amounting together to s5.37s.sso. while the net loss on the inter-bank movement was much more than offset by a gain of the banks from the sub-treasury. that the in- crease in cash as officially reported should have been only ss11.4 The deposits were decreased sf2, ,0ss, 300. causing a reduc- tionein the reserve requirements by s3.009,- S7b, which sum. added to the gain in cash, made ss.s2o.s7s as the increase in surplus reserve to s15.sb7,s15. as against s17.43s. 250 year ago and e5,5os, 250 at the correspond ing date in 1902. Computed upon the basis or deposits less those of s32.262,700 public funds. the surplus now is s2l.773,55o
 In view of the somewhat buoyant specu- iatfon on the Stock Exchange and the nego- tiations of large amounts of railroad mort may be regarded as remarkable. The daily average of bank ciearings for the week was s253,o00,ooo. $32,o0o.0o0 less than in the previous week. though the dealing in stocks
 
 eight banks reduced loans by SIS, 900. 900 net one bank contracting this item by $7,000.- 900; six banks gained s3oo.0oo net cash. though two of these institutions lost to- gether s4.400.000.
 CHICAGO GRAIN, AND PROVISIONS.
 CHICAGO; Oct. 15.-Confirmstion that wheat was perhaps the chief factor in strong wheat market here today. At the close December wheat was up Kc. May Nr A~ ATR Rf down hc. Provisions show gain of 7h 0l21sc.
 The wheat market was strong from the start. The fact that foreign grain markets foilowed yesterdays sharp advance here fur nished considerable encouragement to bull traders Advices from Argentina also were bullish. the weather there being reported as extremely unfavorable. The element of perhaps the greatest importance, however. was the continued active demand for cash wheat and the apparent scarcity of that article Shorts and commission houses were urgent bidders for the December option when trading began. but offerings were ex- tremely light. After opening unchanged to So higher at 1.12% 91.1sM, the price was helped by the strength of December and after opening h 6hc lower to M@Kc hlgher at 1.1291. IS. sold up to ia On the advance numerous realizing sales were made. resulting in a temporary set back. recember declined tc 1i3%, while May sold off to 1.12% 91.12h The bulls soon got control of the situation and dur Ing the remainder of the session the mar. ket held remarkably firm. Trading was confined to the December option and the strength of that delivery prevented any con siderable selling of May. The market closed strong with December at i.f3x. r1nal quotations on May were at 112kD l.l2h. Clearances of wheat and flour were equal to 45,500 bushels. Primary receipts were l.14s6o0 bushels. against 1,1ss, 300 a year ago. Minneapolis. Duluth and Chi eago reported receipts of s7s cars, against SSs last week and 649 year ago.
 In spite of the strength of wheat the corn market was quite weak Heavy sell ing by number of large commission houses was responsible for the decline that oc- cured during the day. Favorable crop prospects and excellent weather conditions were largely instrumental in creating bearish sentiment The market closed at the lowest point December opened k to A 9 9so lower at 49% 949x to 49N, sold grade. 4
 Moderate liquidation caused weakness fin the oats market. Trading was light and mostly of local character. December open ed uprhanged at 2sc sold up to 2sK and thef< eacted to 2sh. The close was at the low point. Local receipts. l6O cars
 Provisions we're fair on buying by pit traders and as result of support by packers. At the close January was un 12X at F 40. Lard was up 7hc at 726. Ribs were 7h O 10c higher at S. 5O16 62H
 Estimated receipts for Monday: Wheat l36 cars; corn. i01 cars; oats lqI cars: hogs 2s,O0O head. ''e'
 The leading futures ranged as follows: ARTICLES: Open. High. Low. Close.