The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1909-08-22
STOCK MARKET
SETTLES DOWN
Decided Recovery From the
Weeks Lowest Prices Is
Generally Recorded.
ADVANCE SHOWN AT START
DECREASE IN LOANS AND DEPos-
ITS is INDICATED.
ADVANCE SHOWN AT START

New York, Aug L-A1Ler i've Iull days
Of unwOnted activity and excitement, the
stock market today settled down to
moce orderly routine. in which very de-
cided recovery from the weeks lowest
prices was generally recorded. London
exchange was observing holiday, so lit
tie guidance was deriVable from that
quarter. However, opening prices here
list. Union Pacific, which has been the
brunt Of thhe recent bear campaign,
opened at from 2O7 to 20812, against 2069s
{ the previous days close.
Another issue was American Car &
Foundry, which was up is. Fractional
advances were made by Southern Pacific,
Reading. Rock Island and many other
conspicuous issues. while some pressure
seemed TO be directed upon United States
Steel and Amalgamated Copper. After
the first few minutes of activity a realiZ-
ing movement set In with recessiOns. By
the end of the first hour the upward
movement was again in full swing, under
the lead Of Union Pacific, Reading and
United States Steel, while such specialtieS
as Pittsburg Coal, common and preferred;
General Electric, Westinghouse Electric
and International Pump were up one to
four points.
The bank statement in its daily average
showed a decrease Of S., 900 in loans
and 5000 900 decrease in deposits. An in
crease Of over IS per cent in the total of
bank Cleariugs all over the country for
the week was hailed as another indication
of the reviving business.
Bonds We're irregular, with total sales,
par value at Sl.77S000. There was no
change in governments throughout the
week.
Clearing House Statement.
New oYrk. Aug. I.-Tha statement Of
clearing house banks for the weeks shows
that the banks hold $50, I29, $50 more than
the requirement of the % per cent re-
serve rule. This is a decrease Of 81, 601, 0.l
pared with last week. The statement fol-
lows;
Loans, s1.351. $500: decrease. IS 49,.
Deposits, S1,406, $4,000; decrease, $500,
800
Circulation, $50, $50. 800; increase, s6S5,500
Legal tenders, S'60o8,70O; decrease, 81
s747O0
Specie. S296.S72 100; decrease, $47i4lOO
Reserve, S3l3S16,40Ji decrease, S1liS,S00
Reserve required, 1851, 300 decrease,
Surplus, 800. 100 $50; decrease. s2,6u,O75.
Elk. U. 5 deposits, S2llS5, l25; decrease,
$3.50 $50.
The percentage Of the actual reserve OF
the clearing house banks today was 26.42.
The statement of banks and trust COM
panies Of Greater New York not report
ing the clearing house shows that these
Institutions have aggregate deposits of
81, 402 979, 400, total cash on hand ISL, 600
and loans amounting to 1,2lS, $4,000.
New York, Aug. 1.-THE Elnancier Will
say:
The statement of the associated banks
Of the city Of New York for the week end
ing Aug p differed materially from what
the earlier estimates had indicated. As
nearly as could be figured on Friday, the
banks had made a gain of something like
two and a half millions of dollars after
a result of the weeks currency move
ment interior transfers TO this point hay
ing amounted TO something over $1,000, 600.
while a slight gain had been made from
operations with tue sub-trea5uTy. The
statement of actual conditions on SatUr-
day, however showed a loss of cash Of
81 $50. 300 a decrease of IS, les, 200 in loans
and a contraction Of Sl4,G20, 500 in deposits.
The decrease in deposits, of course,
brought down reserve requirements, and
surplus reserve was lowered only Sc, 154, on,
but the surplus standing al $685. ,525. The
feature OF the week was evident transfer
of loan commitments from the banks to
the trust companies, the latter according
TO their statements on Saturday, having
expanded the loan item during the week
no less than S11S15,400. The trust com
pauies and state banks outside the clear
ing house increased their cash holdings
less than $l250OO0, while net deposits rose
Sill 549, 500. Exports of gold for the week
amounted to SL250,000 shipped to Argsn-