The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-08-21
AND COMMERCIAL.
SATURDAY, Angus %.

SATURDAY. Auguss %
The London market VAS closed to-day.
In the local market Il was ons OF the
ohIllest 81 the many dull Saturday go
SONS this summer Trading showed no
initiative and the market no tendency.
The bulk Of the transactions probably
represented nothing more important
than 'ha sv~ainS &C speculative .1counts
a. the end OF the week ~ the close the
market was irregular. with fractional
advances and fractional declines on the
dav about equal. The indisposition To
make new speculative commitments on
the short side was increased nv the re-
sistAnce which the market offered 10
selling PRESSURE Yesterday and again
in the strlv trading TODAY, and there
was no news development - stimulate
renewed activity on the long sid" The
hank statement. puhlishsd after the close
~ the market showed. as was eIp~ctsSf.
a decrease IN surplus reserve and an
expansion IN loans Tho statement ~
actual condition a. the end ~ The Se~k
owed decrease ~ s. .OGn1O IN IN"
surrms reserve and an expansion ot
SO NN an m loans Tn" surplus r'-serv"
RENAME however "a all ahov - So 80 oOn
which - eNtraoriinarilv large tor the
.eaSon 20 the wear sterling exchange
rate. again advanc'Nl the closing quota
lion for demand sterling being I sssn.
~ verv closA 20 the uariiv ~ exchange
The range " nrices tor the active t,Cks
stood 81 tie close at the week 80 prac-
ucallv the same level 40 at the Clos~ last
week Cams 81 more than 3. share on
me averag GO on Tues ia- and " einssdav
were offset bv losses suh-e Iuentlv ~
the kiSh prices of tho week the most active
speculative shares showed auch gains
from the low prices IN July ~ as a. points
m Cnion Pacific. ~ in southern Pacific
and Y. each IN United STATE. Steel com
mon and Amalgamated Copper These
gains had been made in practically
oontinuous advance covering a p"riod
~ thrre weeks. and IL was only natural |
thar such an unusual recovery should !
stimulate a great amount II profit taking j
\ feature ~ this proit taking was the
-eIling ~ stocks for the account Of Lon !
don. which bought very heavily at the
low prices prevailing more than three /
weeks ago. Sales tor ondon account
and other realizing sales we're readily
-bsorbei, and AZ TO time during the re-
action from the high prices ot the week
ness in any one Of the active 81 DCks The
less activ" stocks made gains ouits as
decided as did the active stocks IN the .
Early days ~ the wee; and held them
better IN the last three days Public in
terest as represented bv commission
house buyIng was some~ hat greater
throughout the week than on previous
weeks IN tho Last two or three months .
but the sum total of the outside buying
vas nv no means large. In bonds the
tendency was toward increased activity
and strength \ small issue Of railroad
bonds was placed with bankers and the
speedy ssle ~ block Of New York state
canal bonds held out hope that investors
Who turned irum high grade bonds g
Issues 81 higher income Weld last wear
Were beginning . revert . old fAvorits
investments The cror news II the week
was favorable almost without exception .
and stimulated an expansion in business.
PARTICULARLY IN the West aud Northwest
The principal uufavorahle development
~ me week was the 'ovsrnrients figures I
on exports aud imports for the month nf .
July -hoSiuE an excess II imports for .
the fourth time this vear he only other 4
important exception g the generally .
favorable news was CDntaInS1 IN dis
nuietng news from an important de- ,
rartment ~ trade. but ~ - known poi
tivelv tha, bankers have cauvass~' 'h's 4
situation cry thoroughly aud that no
vide trouble NAV h" "NI%N"ted from % /
Indeed arrangements for r"adlusfUeut I
have Progressed - far a. - hnli o'I' the .
hor~ that there viii be no trouble ~ all.
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