Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-10
REAcTI0NARYT TRADING
Reports of Mercantile Agencies Show
ed Negative Results.
ANAL. COPPER VERY ACTIVE
Anaconda Mining Enjoyed an Exten-
siye Advance-Bank Statement
Revealed Surplus.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. February 10.-There was
material contraction in activity In TO-DAY
stock market and the trading In genera
had reactionary appearance. Great Noftn
ern preferred and Northern Pacific. which
were the leaders in animation yesterday
both opened well below their closing prices
of Yesterday on the absence OF any con-
frmation of the various rumors current
then. and during the greater part OF the
business session ruled lower than yester-
DAVIS best figures So far as the genera
market was concerned, it's general tenoeh-
clos might have been accounted for py tne
approaching double holiday and the expec-
tations that the weekly bank stateIhen'
would make an Indifferent exhlpH. lhei
was also some disappointment that the Lon
dom stock market failed to give any re-
snonse to Yesterdays local advances, al
though little or nothing was done here TOT
foreign account. Such degree oI uep
sion as appeared in the London market was
caused mainly by rather vague rumoTs tIae
some hitch had arisen in the negouat!oli'
under way regarding the Moroccan sl'u'
ton. ,,oroo,,ti1e
trade agencies made rather negative exhlo-
its ands one of these reports corroDora'eu
the statements made In the iron age on
Wednesday that distinct recession was
evident in the pig-iron trade. The United
States Steel stocks were today consequently
under some pressure. Amalgamated Cop
per was exceedingly active and relatively
firm. and Anaconda mining enjoyed an eA-
tensive advance.
The movement In the last-named stock
was accompanied by western advices of the
discovery of new important copper veins,
which made a particularly rich by-return
in gold. There were no further develop
ments relating to the threatened labor dif-
ficulties in the coal regions, but Reading
and the other stocks concerned were rather
heavy. The announcement of a large bond
issue by the Southern Railway Company
for a number of specified purposes was the
most important actual news relating to any
particular property. but was without any
special effect on the stock
The Bank Statement.
Surplus reserves were shown to have
been practically cut in half in the weekly
bank statement The decrease these
amounted to 80, $4,000 which reduces the
banks cash holdings in excess of the law
full requirements to $5,943,OO0. The loss
shown in actual cash was IS. 29U.OO1, sum
considerably in excess of the preliminary
estimates, the discrepancy being probably
accounted for by the failure of last week
cash item to show the change expected
then. The loan account showed an eX-
pc nsoE of 81, tE}2 600, and the deposit tstm
a falling away of S452,U0. Surplus reserves
IN the corresponding week of last year
were 81 ,036, OGD, in 1901 $20,3I9,009, and IN
1905 SI5 J29, 600.
The bank statement exhibit had no par
ticular effect on the sock market, Wnlcn
continued irregular, but with lettering ten
denotes in the final dealings. The tone at
the close was firm, the chief features OF
abe dealings being Chicago and North
western and Anaconda Mining.