Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-06-24
SHOWING MADE BY BANKS
Subject for Further Discussion by the
Brokers.
VERY LITTLE ACTIVE TRADING
General Tenor of Foreign Markets Re-
assuring-Local Conditions Steady
in Spite of Stagnation.


Special Dispatch to The star
NEW YORK, June 24-What was &C
tually the most striking feature of today's
situation at large was the very heavy with
drawal of gold from the subtreasury Tor
shipment TO Europe not so much because
of the amount taken. but because the metal
Will be shipped by a comparatively slow
steamship and will certainly not reach It's
destination until well after July 1. In
curry at the banking houses conducting the
transfers of gold elected the rather cynical
comment that II is a matter of indiffer-
-ence whether the steamer occupied ten
DAYS or two weeks in making the passage.
Two conclusions may safely be drawn
from this state of things-namely that the
importers of the metal are allowing interest
in transit which has been generally known
heretofore and the other is that following
an old-tine precedent they are counting in
their reserves the gold actually engaged
here and consigned to them from the time
of its actual withdrawal from the sub
treasury.
Today's engagements of gold for export
were made in foreign exchange market,
which showed only the slightest change
from the conditions which prevailed last
week. Rates were, in fact, a small shade
lower, but the recession appeared to have
no relation whatever to the days trans
actions in bullion. Neither were money
by the continued expectations of gold. which
have now reached a total on the present
movement in the neghborhood OF $25,UOo'-
90.
The remarkable showing made by the
banks In their weekly statement Of Satur-
day came in for some further discussion to-
day. particularly as this mornings hgures
OF the transactions between the banks ana
the subtreasury since Friday showed a loss
by the former of over SO. 100000. or more
than so per cent of the remaining surplus
~ta,, che Fort
the remarkably small loss in cash shown IN
the bank statement through the heavy re-
ceipts of the department stores incidental
to the hot weather were not regarded as
altogether satisfactory.
II could not be correctly said. however.
that either the days gold exports or the
consequent uneasiness as to the future OF
the money market had any material IN
fuence in the. dealings in securities De-
yond further restricting active trading.
In most respects the market. as whole.
varied not at all from its predecessors OF
Saturday and Friday.
number of ordinarily active stocks
were not quoted at all during the larger
part of the business session. and even this
morning an authoritative and important
announcement with regard to the findings
of the special master in the Consolidated
Gas S0-cent litigation was followed by only
a single transaction in that stock up to
the noon hour
Aside from the continued outflow Of
gold there was little OF nothing presented
for consideration. either In the news OF the
morning or the occurrences with the course
of the business session.
With the exception of the copper stocks.
which were notably weak in the London
market improving tendencies were common
there and the general tenor of the for
eign financial and political advices was re-
assuring rather than otherwise.
The business of the arbitrage houses was
confined to the sale of about 1000 shares.
The local stock market was steady in spite
of its stagnancy. but speculative interests
showed the same wearisome conveyance
upon a few. and the same stocks that have
characterized the market for weeks past.