The daily morning journal and courier., 1906-09-27
STOCK MARKET FEATURES
CONSIDERABLE TRANSACTIONS WITH OSCILLATING MARKET.

Sterling Rate Falls 15 Points--One
 Centime Decline in Paris--$1 ,5OO, ,OO0
 More Gold Engaged in Europe--Na-
 tionaI Banks of the Country Show
 Decrease of Over 5000, ,OOO in Reserve
 With Large Rise in DepOsits---Several
 Fonts Break in American Ice
 Hughes Nomination Gives Some Con-
 idence.
 It was case of slight advances followed by retrogressions in the mar ket yesterday, but nevertheless the transactions for the day exceeded q million shares. A fall in our foreign exchange rate was responded to in Lon don by a rise in money The market closed somewhat unsettled, with some of the afternoon gains largely lost.
 There was a fall of a full centime in the price of sterling at Paris, which is interpreted to mean that the French market would not send money to either New York or London It is reported, however, that another s1,5OO,OOO of gold lgas been engaged in Europe for New York
 There was no news regarding the att titude of the United States treasury on the subject of enlarging the public deposits in the banks. A treasury of fiGial was in New York, however, which indicates that the matter is receiving careful consideration and that there may be action within day or two.
 The comptroller of the currency S compilation of returns from the 5000 national banks of the country was made public. Loans show an increase of S300 474,0OO over last year, and indiV- idual deposits an increase of $379,256,- GOO, while cash reserves have decreased S2a,540, COG. The reserve is far below both last year and 1904, while deposits show large increase. The changes are greater even than in 1902. The decrease of 9,500,000 In reserve comes along with an incrcase of s780, 100000 in specie and legal tender outside of the treas ury. and S67,OOO, ,O0O further increase in circulating bank notes.
 London bought about 10000 shares, selling about half that amount. Pur- chases were chiefly of Southern Paci- fife, supposedly in connection with the settlements American stocks were steady in London before the local open inS
 The annruncement of the nomination of Hughes by the republican convention for, governor stimulated confidence, and was probably responsible for the rally in stocks early in the afternoon With Jerome ard others working for Hughes, us was claimed they would, it was claimed by many that Hearst would be showed under. But that any considera- hle number bought stocks on this news is to be doubted.
 A break of several points in American Ice after rise of about 10 points with out material setback led many to conclude that ,ne chief short interest had settled ard that the rise was over. There was no definite news obtainable on this point
 Out of town banks sent more money ito New York yesterday to be loaned on a 7 per cent. basis for ninety days. This rate still governed most of the new loans made, and Whi'ethere were re- ports of some six mcEths' money being put out for ( 1-2 per cent, the banks did not quote such terms Seven per cent. was charged by foreign bankers.
 The National City bank yesterday en- gagged $1,50O,OOO gold in Europe for in- port. Sterling declined 15 points in New York yesterday.