Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-24
Heaviness in Foreign Markets
Reflected Here Today.
DISQUIET IN EUROPE
FRACTIONAL DECLINES GENERAL
IN THE LONDON MART.
Some Of the Leaders Were Comparative
ly Steady at Small Losses Only
The Bank Statement.
Sr,cinl DISPATCH to The Star.

Special Dispatch to The Star.
NEW YORK June 24.-Heaviness In the
foreign securities markets was reflected in
a sympathetic depression In prices in the
stock exchange this morning. Disquiet
over the political situation in Europe, GEN.
tering almost wholly on Germany'S atti-
tude toward France In the Moroccan ques-
ton, has begun to show itself in declining
quotations, although for fortnight past
the chief effect has been the curtailment
of activity. Consols in London dropped al
mos a of point this morning, a recession
that followed a heavier loss yesterday, and
continued a generally downward movement
that set In several days ago. The course
of consols is always watched with peculiar
Interest abroad, and dropping inclintion
in them is a factor of influence on other
issues.
Fractional declines were general through
out the London market with American
stock as heavy any, although suspicion
was cast upon their price movement by
the reports from the other side that much
of the selling in London was for New York
account which might be interpreted to in
ditate efforts on the part of extensive short
Interests to relieve some of the embarfass-
ment caused by the pronounced bull ten
denotes of this weeks market.
London a seller in the early dealings,
and the level of opening quotations was
about the same that cabled from Lon
don. Illinois Central. Missouri Pacific. Met
ropolitan and Shelters were the most con-
splcuouSly heavy features of the early trad
irg. but dealings in them were not large,
and more active ana important issues like
Copper, Brooklyn Rapid Transit the Penn
sHlyania group, New York Central, st. Paul
the Steel snareS and the Hartman PacificS
were comparatively steady at fractional
losses only. The market became very dull
on the early reaction. symptom which was
interpreted faYOrably signifying the gen.
eral disposition
Preliminary forecasts of the bank state
ment were for satisfactory exhibit. which
would not, however. reflect fully the cash
gain indicated yesterday. The continued
pressure of Paris and London for gold has,
10 an extent. upset recent calculations as
to the probable course of the money market
in the immediate future. 1t Is suggested
now that there is fair possibility of gold
exports from this side If the political dis
turbances that seem to underle the Paris
demand for the yellow metal do not cease.
The Bank Statement.
Before the bank statement came out the
market had begun to do better. Baltimore
and Ohio. was conspicuously strong early
in the second hour. and the Pennsylvania
group practically assumed market leader
ship. When the bank statement appeared
il was quickly discovered that the pre-
lininary forecasts were all wrong and that
the showing was much better than the most
favorable expectations, fact that was
calculated to cause marked Improvement.
Surplus reserves increased 81, $50 175, a
delopment owing almost wholly to an enor-
nous cash gain. which itself con-
siderable in excess of the estimates made
yesterday based the known movements
of money.
Specie increased sS.512, 300 and legal ter.-
ders increased 81 100000 making a total
increase In cash of S9.o12aoD. more than
s.. 800 800 above the largest amount esu-
mated yesterday Deposits decreased so-
500 900 and the loans decreased S2.o4S,2 6O.
AS a result of the changes noted the banks
now hold above requirements sl5.W4, $40,
as compared with $3S,452.G15 last year, and
$l2-9y3 so in 1903, showing that cannot
be regarded as otherwise than very salts
factory considering the activity of general
business
No particular animation developed on the
appearance of the bank exhibit but on a
modern volume of trading prices hardened
all around.