Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-16
New Haven Loan Has Favor
able Influence in London.
AMERICAN STOCKS STRONG
Copper Securities Prominent in New
York Market.
ONE NEW HIGH RECORD MADE
Unexpected Decrease In Loan Ac-
count the Most Striking Feature
in the Bank Statement.
AMERICAN STOCKS STRONG
ONE NEW HIGH RECORD MADE
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. February 16-Inasmuch as
the successful flotation in Europe OF the
New Haven railroad loan of about $29.OOO-
600 was known shortly after the close OF
business yesterday and was subsequently
very thoroughly thrashed out in discussion.
there was really nothing novel presented
for consideration when business opened
upon the stock exchange this morning AT
the same time the New Haven TRANSACTION
had logically favorable influence upon
American securities in the London stock
market and they In common with other de-
partments there showed pronounced
strength Little or nothing was done, how
ever, in the local market for foreign &C
count.
Transactions were in greatly reduced VOL
ume and resulted for the most part in small
and irregular changes, with the market as
whole, however. retaining the firm underly-
ing tendency it has exhibited practically
throughout the week. Broadly speaking. it
might be said that the general belief that
1t would be possible for the Aldrich finance
bill to pass both houses at the present ses-
sion of Congress was the main SUSTAINING
influence In the market at large, although
naturally there was little further that was
definite to be ascertained in that respect
Bank Statements Influence.
Forecasts of the weekly bank statement,
based chiefly as usual on the estimates of
the weeks movements in cash, indicated
nothing beyond a small change in respect of
surplus reserves and the probabilities of the
document in question exercised little more
than a negative influence in the mornings
trading.
The securities of the copper companies
continued prominent in both the London
and the local stock markets, Anaconda min
ing advancing at one time to new hlyn
record Amalgamated copper fiuctuated ir
regularly. Strong features in this same de-
partment of the market were United States
Realty and Construction and the National
Biscuit shares. The United States Steel
stocks were firm small transactions.
Transactions in the railway list appeared
to represent for the most part the custom
AIRY evening up of professional contracts at
the end of the week Canadian Pacific was
exceptionally strong and Missouri Pacific
changes were limited and would not appear
to require detailed comment.
The most striking feature of the bank
statement was the unexpected decrease in
the loan account that item being curtailed
by Sl,295,00O. The cash account decreased
100000, and the change in the items in
question was fairly we'll reflected in de-
posits which decreased SS,O16,OO0.
In consequence of the other changes sur
plus reserves Increased 81. 0So,00O and now
stand at s4.430.0OO. Surplus reserves in the
corresponding week of last year were So
1S9. eco; in 1905. Sc, 100000 and in 1904, s27,-
SO6. 600.
In view of the several large corporation
borrowings this week an increase in the
ban account had been generally looked for,
But Wall street is not disposed to be hy-
Nercritical with regard to the Showings
oade in the weekly bank returns.