Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-10-31
WEEK END IRREGULAR
Absence of Pressure tt Sell
Stocks, However.
MODERATE PROFlT-TAKING
Advances Proved to Be as Numerous
as Declines.
BANK EXHIBIT CONVINCING
Railway Equipment Stocks and Con-
sol. Gas Strong Features of
the Short Session.
Special Dispatch TO The Star.

Special Dispatch 10 The Star.
NEW YORK, October 3O.-At this sea-
seon of the year great interest attaches
to the weekly report of the local bank
condition than at any other time, and to-
day such interest was particularly in
creased by the light that Was expect, d to
be cast upon the much debated question
as to how the status of the banks wou
be affected by a supposedly large recent
receipt of stocks here from Europe
that had been carried specuatively Oh
the other side of the Atlantic, but had
been shipped back here after the market
liquidation I'm London consequent upon
discount rate
1t is true that competent banking au-
.hority here has, since the matter came
up. been almost uniformly to the eaect
that the amount of stocks thus sent bach
the popular mind and was In fact small.
Nevertheless, declarations TO The CON
trary had been made in other quarters 81
frequently and with such poSltiveness
tina, today's return of aanKins cOndi-
tons was eagerly awaited.
The point regarded was, of course. the
contraction or expansion Of bank loans
not only Of institutions comprised in the
clearing house, but those OF other
banks" chiefly trust companies. outside
the clearing house list.
Obviously, IL the volume of stocks thus
sent back had been great, bank loans
here would have been materially swollen.
since our own institutions would be called
upon to take up the financial burdens
which according to report had been cas-
back upon us from Europe. The bank
exhibit seemed to remove all basis tor
the charge that great quantities of stock
have indeed been sent back here from
the other side of the Atlantic.
Clearing House Figures.
In the average figures of the clearing
house return bank loans were reported
as actually decreasing SI31. 800.
In the actual figures, that is to say
those giving the condition Of the banks
at the close OF business on Friday night.
loans increased only $1.T1s.2io, while il
the statement of "other banks there was
a decrease in loans of 81, 49,, 100.
As the result of this and of an average
loss in cash of $4,3l4.OOO and OF an actual
loss In cash of s6.SD0.OO0, the clearing
house surplus was slightly diminished
in both forms Of the return.
The loss in cash. as reported in both
statements, was just about that which IL
is known has occurred by reason of recent
gold shipments from Canada and Brazil,
While the small increase In loans tndt mas
taken place is no more than what would
nave occurred under the transfer back to
the banks of loans made by the trust
companies ten days ago, when call and
time money rates were somewhat higher
than they now are.
The stock market itself today was a dull
affair. slightly. perhaps. by reason of the
large attendance Of stock exchange men,
bers upon the automobile race. but chiefly,
no doubt, because several stock exchange
,,I t., x1av,
preaching Monday the London Stock Elk
change will be closed for All Saints day.
while business will be suspended here
next Tuesday.
Greater Buying of Industrials.
The general movement of prices today
was irregular. There was, in the main, a
continuation of the moderate profit-taking
sales noticed yesterday. but there was 4
distinct absence OF pressure to sell stocks.
and advances through the market were
really as numerous as declines. principally
because of a greater buying Of the shares
OF the railway equipment companies and
of the so-called minor iron and steel
stocks than had been noticed in a con-
siderable period.
All the prominent railway equipment
stocks made advances of between one and
two points, and there is substantial reason
to believe that dividend increases upon
some of these are impending The pros
poets of the business of these companies
throughout next year is exceedingly
bright and rests upon the tangible evil
dence of the enormous volume OF orders
for new cars, engines and other equip
ment now being placed by the railroad
companies.
Consolidated Gas stock was also a dis
tinctly strong feature because of a better
understanding of the company's annual
report published during the week which
showed when closely read that the bust
ness Of the company has decidedly enlarg-
ed In the last year, and that the imposi-
ton of an Sd per cent rate for gas is
proving not SO much OF a disadvantage as
was feared.