Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-19
Market Dealings Were Gen
orally Heavy Today.
THE BANK STATEMENT
TRADING WAS OF A VERY PRO
FESSIoNAL CHARACTER.
U. s. Steel Shares Were Conspicuously
Strong-Wisconsin Central Led
Railway List Advances.

Special Dispatch to The Star.
NEW YORK, August 19.-The stock mar
ket generally heavy again today. but
not remarkably so in view of the inaus
piciOus circumstances under which trading
was conducted. This mornings advices
from Portsmouth represented the peace
negotiations 10 he in very strained and
complicated state hut there was still a
strong undcrcurrent of expression to the
effect that it by no means impossible
that peace should be finally concluded,
The London stock market was closed to-
day. but the continental markets were firm
There were no developments Of any con-
sequence over night. apart from those in
connection with the peace negotiations. The
weekly reports of the mercantile agencies
made very gratifying reports upon the con-
diton of the countrys trade.
1t was commonly expected that the bank
statement would make very unfavorabl BILE
showing by reason of the large loss In cash
which the banks have suffered this week
on account of currency shipments to the
interior for the purpose of moving the crops.
Active Trading Somewhat Restricted.
This prospect additional fact or
not only in such weakness as the market
showed. but also in restricting active trad
ing.
The dealings seemed to be of a more pro-
fessional character that at any time this
week. yesterdays sharp reaction having
put quite damper upon the budding out
side interest In the speculation few
stocks were comparatively strong, the
United States Steel shares being conspicu-
in that respect, but price movements
for the most part showed a good deal or
uniformity.
In the railway list the Wisconsin Central
shares enjoyed substantial advances in spite
of the weakness which prevailed elsewhere.
Rumors were again current that the control
OF the property being acquired in the
interest OF the Pere Marquette system
Little news. save that provided by earnings
statements. attended the movements In one
stock or another. however. and the days
gossip brought out no points of novelty.
The Bank Statement
Although the preliminary estimates of the
weeks currency movement Indicated that
the banks had lost between $6,OoOrUU and
SS000,o00. today's bank statement showed
a decrease in the cash item of only a little
more than S3.O00O0O Currency shipments
TO the interior were heaviest toward the
close Of the week. hence they did not figure
to the full extent in the averages set forth
In the bank statement
The loan account showed an expansion of
SG,2O,oOo and the deposit item increased
$l.SRe 900. a sum far out OF proof with the
changes In cash and loans.
In consequence of the other altera tons In
the statement. surplus reserves decreased
Sfi9lOoo, leaving the banks cash holdings
in excess of the lawful requirements at
S9,@5J,O0o- Surplus reserves in the CORE
spending week of last year stood at sos
B13t1. in 1893 al ST. 05S 600 and in 1902
at s9143.on0
Last year surplus reserves were. of
course. unduly swollen by the transactions
in connection with the Panama canal
payments.
The stock market rallied sharply upon
the appearance of the bank statement as a
larger decrease in surplus than was shown
had been unprecedented.
The covering of short contracts seemed to
he the main influence In the recovery in
which many stocks rose well above their
closing figures of yesterday.