Daily press. [volume] (Newport News, Va.) 1896-current, 1907-08-30
Stock Exchange WIN Not be Open
on Saturday and It PrOmp,-
Cd CuP|aIIment.
MONEY RESOURCES ARE LIMITED
Trading Was at Times Almost Idle
and the Current Price, Movement
Was Feeble and Hcsltstins-lnterior
Ddmand aOr currency-Thc Total
Sales and Clos ng Quotations.
(By Associated pressA !

(By Associated Press.)
NEW YORK, Aug. 29.--Thc marked
feature Of the stock market continued
Today To be tn u relative smalncss
OF the offerings for sale compared
with tEc late period of liquidation. At
NE Same time there was substance
oil the demand of an aggressive sort
which WAS In evidence yesterday. Thc
reduction OF the short interest rs n
result of that buying and the consc-
quent dimlnution OF the potential ue.
lnand FOR stocks were to be inferred
from this. The consequence was n
shrinkage In the volume OF the deal
ings to smaller aggregate than las
been seen for several weeks past.
The decision of the governors of the
Stock Exchange to close the Exchange
on Saturday in compliance with the
petition of members was an additional
fact In prompting the curtailmcnt oil
any new ventures pending the pass
Ing of the triple holiday. TRAILING
WAS almost idle at times and the cur
rent price movement was feeble and
hesitatng. rise In the call loan
rate was happening of some nilu-
encc on stocks, rs serving to cmpha-
size the narrow margin OF the avail
able money resources. Some calling
OF loans was reported in preparation
for settlements ut the end oi thcl
month. lnroads upon the cash sup
plies OF the New York banks for incl
week have reached considerable fig
ures, rs shown by the statement of
sub-treasury operations the govern
mcnt having absorbed S2,413,000 from
the banks since the last bank state
ment
nI. ~
York subItrcasury compared with thel
small current surplus in the govern
ment revenues represents another
phase of the Interior demand for cur
rency. interior banks drawing on
their Now York deposits TO pay obli-
cations TO the government. 1t Is this
condition which 1t Is expected VIM
be ncutralzcd by the treasury pian|
for deposit II weekly installments of
government funds in the national
banks. The deposits for the present
week, although reported from Wash
ington rs already assigned to the de
positarics, have not made their ap-
pearancc in any operations by the
New York banks. Washington advices
tend to modify the assumption that
large blocks OF the government de- 1
posits were to be placed directly WITH
New York banks, the intention being
held to apportion them as far as pos
sible to the sections where demand
Is active for crop moving purposes.
Even In, the case the effect would DC
to relieve corrcspondingly the demand
upon the reserve centcrs. 1t is ex-
pcctcd also that some of the interior
banks VIII ch receive assignments of
the government deposits will turn
them over to New York banks for lack
of holdings of securities of the clNss
demanded as collateral In spite of
the stiffenins of the call loan rates
the time loan market was weaker.
The naming of full dividend rates
on both series of Erie preferred
stocks was better than was expected
the dividend on Erie stocks made al
in ten year warrants. Tho resort tol
the device of ten year warrants forl
the d vidends on Erie stocks made N
fresh impression of the scarcity of
capital aud the shifts TO which needy
borrowers must expect To be forced.
The raising of the question of the sta
bility of dividend rates show New
York Central again peculiarly scnsi-
tive owns to the poor showing Of
earnings of that company for the first
six months of 1907.
Bonds were steady. Total sales par
value $500 900. U. S. SIS declined III
per cent on call. Total sales of stocks
today were 3l5,600 shares including
Amalgamated Copper 26.i0O; Smclt-
ing $500; American Tobacco pfd,
100; Brooklyn Transit 5000; c. G. o..
800; l.. e ~. 200; N & W., 200;
n. Y. Central, 1900: Pennsylvania.
5000; Reading $1,000; Southern Pa
cific. II 500; Southern Railway, 600;
Union Pacif C $4,000; United States
Steel. 1880.
Adames Express ...,...... $50
Amalagamatcd Copper ........ 7O3s
American Car & Foundry 49,. 37M
American Car & Foundry pfd.. %
American Cotton Oil .......... BIZ
American Cotton Oil pfd ..... So
American Express ............ 1873
American Hide & Leather pfd.. 15H
American Ice ..... 40
American Linsccd Oil ........
American Linsecd Oil pfd.... 1871
American Locomotive ... 5lB
American Locomotive pfd ..... 100
American Smelling e Refng.. 9tW
American Smelling e Rcfng pfd 95M
American Sugar Refining 80. 1919
American Tobacco, pfd. ccrtif. 75H
Anaconda Mining Co .... l6
Atchison S6k
Atchison pfd ............. 1914
Atlantic Coast Line ..-.... 81