Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-28
Further Severe and Generat
Losses Today.
LIQUIDATION WAS HEAVY
The Weakness in Reading and An
thracite Stocks.
FAVORABLE TRADE REPORTS
Bank Statement Showed Only q Nor
NAL Net Change In Actual Cash
Increased Loan Item.
Special Dispatch to The Star

Special Dispatch to The Star.
NEW YORK. April 2S.-This morning
stock market suffered further severe anu
general losses. for the same obvious. Or a.
any rate, superficial reasons which naSe
dominated its course for the past ten oass'
Liquidation. heavy and apparently urgent
was conducted throughout the business Sos
sion and In consequence prices melted away
rapidly In all directions
The narticular weakness in Reading and
the anthracite coal stocks might perhaps
have been induced In part by the latest ao-
vices respecting the status OF the negotia-
lions under way relating to the labor sitna-
ton interest In the anthracite district, OUT
for the most part no reasons were asked OF
could be obtained. for the movements IN one
stock or another save liquidation.
From the course of many stocks 1t was
perfectly apparent, however. that the SELL
ing OF this description was by no means
solely for the account of the insurance COM
panies which have suffered losses through
the San Francisco fire. and there were many
evidences of heavy pool liquidation and OF
selling by large individual operators. As
has been the case throughout the week,
London furnished a higher range OF prices
for American stocks. and foreign houses
were buyers here on balance but these
burden of local liquidation.
Aside from the developments In the an
thracite district there was q virtual ab-
sence of news over night relating to the
general market or to particular stocks.
Scarcely the slightest attention was paid
to the heavy engagements or gold, which
were arranged yesterday for import to New
York, and only a negative interest appeared
TO be taken in the probable showing OF the
weekly bank statement
The Trade Reports.
The favorable weekly reports OF the mer-
camille agencies upon the state OF the coun-
try,s trade were likewise ignored, discussion
being entirely absorbed with what might
be called internal market conditions. For
that reason 1t would serve no particular
purpose to discuss the dealings or the price
movements in any individual securities.
The bank statement showed only NOM
inai net change In actual cash. that item
decreasing $695, 900. On account of the very
conflicting movements of currency for the
past two weeks. few people have attempted
to estimate the change that might appear In
this item. The loan account showed an ex-
pansion of $21. 7S1 900. which. owing to the
small change in cash, was closely reflected
In the deposit account, which rose 81 U.s.
600. In consequence surplus reserves de-
creased S5.9o7 600, leaving the banks still In
the possession of cash to the extent OF $10-
1857. 600 In excess of the lawful requirements.
Surplus reserves In the corresponding week
of last year were S16. 685. 900, IN 1904 $33 1A.-
900. and In 1903 81, 1s1 900.
1t was the commonly expressed opinion
that the large Increase In the loan item was
O reflection mainly of borrowing by the IN
surance companies and by individuals In
connection with the San Francisco disaster.