Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-13
Currency Movement a Pron,l-
nent Topic Today.
A GRATIFYING CONTRAST
Weeks Bank Gain Compared With
Last Week.
BANK STATEMENT SPECULATION
Money Market Was Decidedly Easie'
in All observation-disclosures
Closed-General Advance.
A GRATIFYING CONTRAST
RANK STATEMENT SPECULATION

Special Dispatch to The Star.
NEW YORK. April i3.-That on account
Of the weeks furry In the money Market
and perhaps for other reasons. the cur'ehe
movement has finally turned In FAVOR vi
+hi, point as was indicated TINS aieeiho
when the publication OF the preliminary
.ir,ates of the principal movements IN cash
since last Friday pointed TO gem oy
.Slss 81 an amount only a little beloW
a. 600 600 The banks lost in their opera
tions with the subtreasury aiohe o'ii'
$4,000. A.. trono
contrast with the figures available az TINS
time OF last week. when the estinlateo ioss
es averaged sSO0o.o0O, sum Whlcn W. tee
closely reflected in the final showing VI 'he
bank statement. - so.,
So far as the prospects for that docu-
ment tomorrow are concerned the Gay
expectations were decidedly hopelul
was the general impression tiiat enG .o te-
ing of the loan account in last week state
ment was far out Of line with the uue
situation. and that the discrepancy "ouiu
be corrected in tomorrows returns.
II Is reasonably believed also that theIe
mas been a further heavy curtailment OF
the accommodation extended by one cleat
ing house banks in this week money mo-
ket. and 1t is easily possible that the loan
account tomorrow may show reouctoii
which. coupled with the banks gain IN
cash. will wipe out last weeks deficit In
reserves and establish fair surplus
Money Market Easier.
Today's money market was decidedly cas-
Ter in all departments. Renewal rates were
early fixed at per cent, comfortable
figure in all the circumstances of the case
and most of the days new borrowing was
arranged below that figure. Rates for loans
on time for all periods were correspond
ingly shaded.
Sterling exchange rose sharply during the
fV.r lot rnaH
movements in that direction We're lsho.eu
In consequence OF the relaxation In the
money market. AS was to be expect esc
dealings upon the stock exchange We're
In very small volume, but the tone OF the
market after an irregular opening was
exceedingly firm.
B. and o. Stock Heavy.
Baltimore and Ohio was also exceptionally
heavy during the morning on the announce
ment that the management or the COM
psny had decided upon the issue OF VII
10000 of new common stock for double
tracking the road and ether corporate pur-
poses. but that stock subsequently became
steadier also. The new stock will be issued
to both the common and preferred shars-
holders of record at par, and at present
prices the subscription rights were inquired
at valuation of something under 2 per
cent.
There was little to be adduced in con-
nection with the movements In other IN
dfyIdual securities The latest complica-
lions in the negotiations relating to the
difficulties in the anthracite coal regions
had no particular effect upon stocks direct
ly concerned. Amalgamated Copper was
one of the strongest and most active Iea-
lures OF the market, and conjecture re-
garding the rate of dividend to be de-
cIared next Thursday commonly took the
form that regular IL per cent figure and
y per cent extra would be declared Brook
lyn Rapid Transit also was exceptionally
strong but no special news or novel gossip
accompanied the trading In that security.