Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-13
Currency Movements Ami
mated the Dealings Today.
CONDITION OF BANKS
FIRST WEEK THAT THEY GAINED
SINCE AUGUST.
Speculation Over Tomorrow's Bank
Statement-Fine Increase in Sur
plus Reserves is Expected.
Special Dispatch TO The Star.

Special Dispatch to The Star.
NEW YORK, October 13.--The stock mar
ket. backed and filled always within narrow
limits during the forenoon. developed
a firmer tone and moderately increased anil
nation after midday. upon the publication
OF the preliminary estimates of the prin-
clpal movements In currency during the
week. The latter variousy indicated a
nominal net loss Of less than 100000. ac-
cordlng 10 authority, and gain of
S2460oO according to another. These fig
ures compare with a loss by the banks dur
ing the same period of last week of more
than SG2O0.OO0.
The banks actually gained on balance on
the interior movement In currency between
100000 and 100000. but they scored a
small loss in their direct operations at the
subtreasury. This is the first week that
the banks gained on the general currency
movement TO and from the interior since
early In August.
1t commonly expected that tomor-
rows bank statement would show another
and quite considerable reduction in the loan
account, and that in consequence the banks
would be able to show quite handsome
Increase In surplus reserves.
Prospects Not Reflected.
The prospects in this regard were not re-
fected to any extent In the days money
market, which hung stubbornIy around 6
per cent. Money-market affairs and pros
poets. together with further but diminish
ing discussion of the Vanderlip address.
were about the only themes of interest in
the financial district today.
American stocks were rather exceptionally
steady in the London market, which was
otherwise irregular, with some continental
liquidation reported but operations here for
foreign account were not in excess OF 10000
shares, with a small preponderance of pur
chaSes. The business of commission houses
continued upon low ebb. and is discourage
ed rather than otherwise by those conduct
ing it. because of the monetary situation.
There was little real news relating to one
stock or another than that of a simple rou-
tine character.
number of particular stocks failed to elicit
any new gossip of interest. Practically Of
fetal disclaimers of knowledge with re-
gard 10 any developments in the affairs
OF the Wisconsin Central Railroad Com
pany did not prevent further rapid rise
in those stocks
Advances in Railway List.
Other extensive advances in the railway
list took place in Great Northern preferred,
Canadian Pacific and st. Paul. while Read
ing. which was one Of the active features
of the market, rallied easily from an early
quite severe decline.
\ fairly active business was done in the
b0.d market, and outside Of the stock eX-
change active transactions were reported
in the United States bonds affected by the
refunding operation at figures which make
the quotations for those securities daily
quoted in the stock exchange bond market
seem somewhat ridiculous, and in fact as
possessing about the same value as the
posted rates for foreign exchange on the
bulletins of the foreign banking houses.
The industrial and miscellaneous stocks
furnished their full quota to the days small
total transactions. Firm features there
were Amalgamated Copper, Central Leath-
er, the United States Steel stocks and
American Locomotive. Dividend rumors
accompanied the dealings in the last named,
nOtwit hstanding positive assertions that no
declaration is likely before next spring.