The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-08-28
GOSSIP o. VAL STREET.

Dor several weeks he saturday half
session. on mo St0rk FVchanz~ has ben
merely perfunrtoty anair. bat he s'ork
market v~starday hrose all records for the
past thrs" ysaTs n point OF inactivity
Transact ion- announced To G.loO shares.
the smallest half dhy's bu-insS- sihee the
aftermath ~ the 1901 PAM. Some idea 81
the pitch OF dulnsss To which IN" market
fell l. furnished by the fact that there Was
NO trading At ell IN such usually actiN"
issues - canadian Pacific. Louisville ami
Nashville Anaconda. and Southern RAILWAY.
4 host Of other -ioCk- Were not quoted dur
ing che daY. including American sugar.
American Wooden. ontario and Western.
Norfolk and Western. Sloss Shefield.
Int-d states Rubber. wabash. virginia
Carolina chemical and BROOKLYN Union
Gas
The only noteworthy development IN the
financial district yesterday was further
sensational advance in the August cotton
option which expires next week. This
option rose swiftly some thirty-siN points
20 10 ~. a new high record for the wear
and since the famous Sully boom when
cotton Vas advanced above ~ cents The
moving cause of advance was. 81 course
the covering OF bela,ed shorts. and a.
such the movement did not influence par
tiCularly the later deliveries. similar spec
ulatIve influences caused Wild excitement
IN the cotton market At The time of the
expiration Of the NAV and July deliveries
but on neither Of these occasions did the
price reach Yesterdays high poin'.
Remark has been occasioned nv the fact
that the ahnormally large reserves held nv
the Clearing House banks have no, been
accumulated by 'hsSe instit utlons IN general,
hut rather by a few OF the largest banks ~
Of
dav bank statement. for instance. revealed
the interesting fact that three institution.
namely tho National Guy. the First National
and me Bank of Manhat' m. held the bulk
Of tho large surplus Of cash These lns'itu-
tons exhibited percentages % cash 10 de
poSi's ~ 81. nor cent q ; and ~ per
CEN respectively The other banks
generally showed little more han com
Portable margin above the IS yer cent,
legal limit
The record % banE clearings IN the nted
States for the week testifieS 20 cont nuinH
sla kenins OF the pace ~ business N"
figures of the Financial 'hroricic ndi'a'"
total ,laarings of ". 1s' 7Is Ia. a. compared
with q so 80 last week and o. .s1i o. .9n
lat year falling m of - per cont MhIl"
% j. thus plain that general business over
The country siil shows deterioration IA
several lanes there are iudica tionS of return
ing conhden'e Marshall Field Go
report that Western mcr hsnts are huviug
a. large Ito - as usual IN the expectation
Of good business justified by tho rrop pros
70. - Regarding the pig iron industry.
wher" resent depression has been as pro
noun ed a. anyN here else. a leading nrm
has 'his 20 say Things look decidedly
brighter This week Not that there has bee n
mu' ariual business done. but there -
Do idedly more Interest on the part of buy
er- parti rularly In the West and middle
West Consumers realize thai present
price- are a. low they can reasonably
eNp"c' to get ami or" beginning 20 feel
ahead. With the hor- of buying into 1914
a. ngGres nos ruling
The heavy movement of the country's
crops 10 market was reflected by yeSter
days fortnighuy report on tho employ
ment Of Idle railway equipment, showing
: it.'h~- de rease IN The number Of Idlr
cars ~ a -, or .Ss per cent Of the
total -urplus reported IN the lA-t bulletin
The surplus - nov - $40. or Just about half
he maximum Of tho year reported July o
ne a