The sun., 1913-10-26
FINANCIAL NEWS
AND COMMENT
Strength Shown by Stocks De-
spite the Unscttling Mcxi-
can Situation.
BANKS INCREASE LOANS
Influence of the Week Derived
Largely From Currency
Bill Prospect.
BANKS INCREASE LOANS

IonSlUerlng tHe HlsVuletlfC aspects Ol
tho Mexican situation. the stock market
yesterday was almost strong Dealings
were obviously of an unchanged profess
sional character. with trading in light
volume. but depression in the first hour
vas not extensive and was succeeded by
general upturn. which left prices very
little changed for the dav.
Wall Street had no Specific news to
operate upon. hut such Mexican adviccs
as were received were hopefully con-
strucd. There WIS nothing doing in the
foreign markets OF any striking consc-
puence. and week enl developments or
information merely continued routine
consideration. The commercial agencies
in their reviews of the state Of trade re-
ported irregularitN. but the country
knows that "A substantial volume of husi
ness is moving, although most indexes
suggest recedng tendencies. The coun-
try's bank clearings for the week dis
closed n decrease of about ) per cent.
in comparison With the corresponding
exchanges last year. thus carrying along
an exhibit of contraction which began
with the advent Of autumn. The Atchi-
son railroad reported earnings for Sep
temhcr showing agrOss decrease of S2S4.o
and n net decrease OF S2il,0ou. Cotton
made another spectacular display of
strength.
Foreign exchange manifested further
weakness. demand sterling selling down
to I>JlO, u new low price for tile season.
If our exchange continues 10 fall II Is
possible that "" may again hear OF the
Bank of Englands purpose to pu. It's dis
count rate higher To prevent gold ship
ments from London to this market
Meanwhile canada drew again on local
gold supplies. taking 100000 from this
city,
The bank statement was not In line
with expectations. The average figures
were at wide Variance with the actual
except in the matter % cash changes
although these were not in agreement.
The large loan and deposit decrease in
the average showing undoubtedly reflected
ehe reductions made In the latter part OF
last week and reported then i'm the ac-
tual statement. In yesterdays return of
actual conditions loans increased si,"32.-
ono and deposits decreased Sl"l"""n.
There was no balance between the changes
in the actual items. for cash holdings
decreased about si.1jo. 600. OF which
sl3S4.OoO was reflected in a shriuNaGe
in surplus reserve.
The stock market of the week indicated
considerable degree 90 previous over
selling II rallied easily aYd quite Nio-
lcntly Last Tuesday ~ purchases which
responded TO the signs Ut Washington
that criticism OF tho currency hil had
produced very gratifying Impression on
the Admiuist"jt OIL ard that IN" prospect
for reasonable amendment .oF the House
Hill had been vastly improved Other
suggestions &c a more ENCOURAGING att
,uda i'm i,rSi,r CHARTERS were ,,nVp,rd
nv some rather indefinite but cheerful
intimatiors that the railroad case fn'
higher freight rates WIS ftXotahlv ,,.
cardcd lbs sh,pnors and IN increasing
measure by legislative bodies and rcsuat-
ing commissions.
These two considerations. relating :"
STRUCTURE furnished . h,sis for som, rot-
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