The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-10-08
/. AN,,LOC|OMOTIvE
STOCKS. STRONG It: |
Railroad Equipments Up Did Not
Share Yesterday Shown
ward Tendency
WEEKLY BANK STATEMENT \ {:
Indications Are That q Stiff
Money Market @is Likely
to Continue. a
(By Associated 1'ress.)

NEW YORK, October i.-tslnc weekly
{, rnnk Abatement offered N warning Of the
small rcuncc TO be placed on yester-
dny's late decline in tho call money rate
MS n reflection OF tho situation OF the
monty market Speculative sentiment
,yas brought to the conclusion that q
arr money market Was likely to con-
tInue for tho immediate future and there
was selling OF stocks in consequence.
a group OF Industrial speclultcs, most
yamong tho railroad equipments stocks
with American Locomotive, IL conspic-
1louls leader were notable exceptions to
u tho general downward tendency. The
movements In these was OF professional
origin quite largely but had ns sun:
8 stantini basis the extraordinary need o.
the railroads throughout the country for
large Increases in facilities to 5accommo.
date the flood OF traffic which Is com
Ing upon them. n !. n N y
The strength OF this handful OF stocks
however, was of little effect In sustaining
the general market md the closing was
easy at not dccllilea, running 70 g. pollnle
or over for many Of the proHlliines en- . ac-
tive stocks. A s. I'D Is. 3E Y 4. III, ~,
b Total sales OF bonds, par value. ], 100. {
Gov. ..-,... !.
All but n small percentage OF trust
company X cash Is on deposit VII nAa nc ,
clearinghouse banks md figures N thhir
reserve, which therefore constitu tes a.
most tho only reserve "a ainst both$ BANK
and trust company depos'ts.1aIle nc"
York state Trust Company az q whole
e rcportcd to the superintendent ofRbank-
ing on September 9Th. deposits subject
10 withdrawal on demand OF 1913. b63, lag.
Tho item OF loans on collateral. at that
date standing Mt 5.$a9, 40l. The cash IN
( their vaults was then reported at less
than $4,000. COO. which was less than 80
rer cent. OF deposit liabilities subject TO
demand.
Last year most OF the trust com panics
Withdrew from clearinghouse privileges
rather than submit to q requirements 70
maintain ten per cent. as, q minimum
I, Of cash reserves against deposits. to be
Increased to,16 per cent. In the discretion
OF the clearinghouse committee. The
present great loan expansion has grown
&llp on account OF the existing excellent
state Of credit and the quick concertl-
bility OF the large. portion OF It placed
In call loans leaves the lenders undis-
4 turbed In their sense OF security.
The progress of tho Legislative lnves-
stigation ofElife insurance methods Is OF
some sentimental influence In the stock
market. Disclosures OF the arrogation
prroprcty and OF compliance with the
letter Of law on the part q men pow.
4 crfuI5 and inflnentia1gain tho financial
world had Its part In the skeptjcism felt
'htowards last weeks bAnk- statement
Tho dominance OF The money situation
las kept, stock market operations and
movements within 2 narrow range and
has kept other considerations In the
BACKGROUND.
United States new IS declined is. the
IS coupon IL, tho IS registered 3-4 md
tho old As coupon ] per cent 3on call on
Tho week. 5.5i,
Total sales. go, 100 shares
NEW YORK. October 7.-Moncy on
call nominal: no loans: time loans firm:
ca days and % days aaS II; 4. six months
"a. q
Primo mercantile paper 43-4di5 ner
cent. Sterling exchange steady with &c
tual business In bankers bills at 49, son
ass ,35 for demand. and at 49, for sixty
dav Hills. Posted rates 4s3L-4s3 IL Eand
4ssMsss 1-e. S,ommetrial tlib'lls % 4Sl 1-401
al II. Bar silver Gl1-i. Mexican dollars