Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-05
Best Part of Today's Market
Dull and Featureless.
THE PRICES WERE FIRM
STEEL SHARES FURNISHED BACK
BONE FOR ALL TRADING.
Fluctuation Of Figures Predicted in
Accordance With Peace Commits
sion Rumors-Bank Statement.

NEW YORK, August 5.-Forecasts of a
pesslmistic nature IN regard to the bank
statement. the stock exchange holiday.
which began in London this morning to last
until next Tuesday and large quantity of
half-holiday Indifference here gave this
mornings stock market a dull and indif-
erent appearance throughout the bulk of
the session. In most directions. including
especially the high-priced features of the
last two weeks, prices were firm. and
throughout the list fluctuations were very
narrow.
The steel shares were perhaps the back
bone of such a market there was. for
they continued to exhibit the same steadi-
ness and frmness that has been such an
encouraging characteristic of late. There
was no overnight news from abroad of
general Importance. a fact that is largely
to be accounted for by the foreign interest
conferred in this country now that the
Japanese and Russian peace commission
ers are about to meet in the endeavor to
find basis which hostilities in the far
east can be terminated.
The most important domestic news for
market consumption related to these ambaS-
sailors and the views directly or indirectly
attributed to them. and it seems likely that
for the next week so prices of securities
may fiuctuate temporarily in accordance
with the favorable unfavorable tenor of
the reports that come from Portsmouth. In
addition to this. spectators and investors
VIII watch closely the course of the money
market. which will soon doubtless begin to
be affected by the interior demands for
funds. now that the crops are apt to be ap-
preaching maturity.
Banking Opinion.
The best-informed banking opinion seems
to be that while money rates must harden
somewhat. no rise of a serious nature need
be apprehended and If this is SO it would
seem that the general conditions in agricuI-
ture, trade and manufacturing provide suf-
fcient guarantees against any marked set
back in the stock market, If they do not
warrant optimistic predictions of boom.
Gossip of the street included no novel or
interesting features this morning
1t was said however. on tolerably COM
petent authority, that the ease with which
Smelters common had advanced this week
was largely to be accounted for by the ac-
QUESTION of a large lot of stock by new in
terests. who had not bought for specula-
tive purposes Toward the time for the ap-
pearance of the bank statement the trading
was very desultory, with prices inclined to
sag a trihe.
The Bank Statement.
For week that included the shifting OF
accounts normal found the end os one
lot and the beginning of another. the
payment OF the second installment of about
S,VooGO on the last Japanese loan, and
the disbursement to the government of
about s2,JG0,G00 on the Central Pacific ac
count. together with an increase of ACTIVITY
ana general advance in prices on the
STOCK market. The bank statement was
Tar less unfavorable than had been ex
pected.
Loans increased sl.3G2. 300. deposits de-
creased S2GlS,GUO. and cash decreased about
so,ovVW5 on account of these changes: re-
serves decreased s. ] - $50 and the hanks
now mold in excess of the lawful reuuire
ments III, ~ 595. against 500 30S $50 last
year. and 81 .5S7.01o in 1903. The state
nnent was falrly in line with technical proof
and was accepted az satisfactory h1,f No..
absolutely without influence on the stock
market. which became even more stagnant
aIler the issuance of the statement than II
had been before it appeared -