The Birmingham age-herald., 1908-02-08
STOCK MARKET
 IS STILL HEAVY Professionals Take Entire Con-
 troI of Situation REVISED BANK STATEMENT New Form of Bank Statement Is To Be Issued Showing Condition of Trust Companies as We'll as Banks
 of Association.
REVISED BANK STATEMENT

New York, February 7.-Heaviness and almost stagnation continued the charae- teristics of all departments of the secur- ities market today. There was no evil dence of any participation in the dealings outside the narrow professional circle The prospect for growing attention to the political canvass and the fear that ora tory and discussion at that time would turn largely on abuses of speculation and denunciation of the speculative world were the subject matter of much of the current talk in the neighborhood of the stock exchange, and the fears of a re- pressive effect on business there was an element in the neglect of the market. An other was the coming resumption tomor- row of the detailed bank statement show ing the condition of the individual banks S'5ich has been in abeyance ever since the decision to issue clearing house loan certificates at the time of the panic.
 Additional importance is given to this resumption by the beginning of the week 1y statements of conditions of other banks and trust companies in New York to be given out with the regular bank state ment which will commence tomorrow. Another important departure determined on by the authorities is to supplement the statement in the former form of the daily averages of the various items of the clearing house banks with another form embracing the actual items at the close of business on Friday. The state ment of averages has been upheld by the banking authorities as a trustworthy in- dex of the real condition, but the vagaries caused in the weekend showing, especial ly by throwing over the effects of im- portant operations on one week into an- other weeks showingy have caused grow ing criticism in the large financial world. The new system will supply the needed q a source of illumination, however, will be the inclusion of the trust companies and outside banks in the weekly reports of the banking position. The growth of the aggregate deposits of the trust companies of late years to a total almost as great as those of the clearing house mem bers and the entry of those institutions more and more into the field of actual banking business had made the old clear ing house bank statement glowingly in- adequate as true showing of the bank ing position The close relation exist ing between many of the great banks and many of the great. trust companies also conduced to ready exchanges of operations between them, often with con- fusing effect on the items of the banks and some times it had come to be sus- pected with evasive intent.
 Tomorrow there is to be the old form of statement for the clearing house banks averages. statement of actual items of members, one of the average of the other banks and trust companies in Greater New York and an average for all the institutions With such weekly exhibit coming from the clear ing house there will never be again an opportunity for eonceaiment of the act ual banking situation in New York city. It is probable that some degree of final preparation for complying with the new showing has entered into the weeks oper- ations and was accountable for some closing up of loans and occasional weak ness in securities which figured as col lateral. The few stocks which showed movement of any importance in today's market were influenced by special causes.
 The contraction of operations in the bond market has become marked, and tho tone today was irregular. Heaviness in the New York city 41ss was asso- ciated with next weeks proposed sale of a new issue of $50, O0,000 more city bonds. Total sales, par value, $1,966,0 0O00. United States bonds were unchanged on call.