The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-22
GREATER EASE IN
MONEY MARKETS
Banks Have Excess Over Reserve
Requirements Nearly Double
Amount a Week Ago.
TEsTIFIEs TO IMPROVEMENT
Speculative Interest Shifts Dur
ing Trading From Union
Pacific TO Reading.
ny nKoAnAN VAIL.

New York. September 2l.-"Ten mil
ten minutes" 10 quote New York
morning newspaper of Sunday. testifies
to the Improvement, IN the public de-
man6 for investment issues.
Saturdays bank statement reveals
that the banks now have an excess
over reserve requirements of nearly
double the amount held week ago.
that some OF the money put out by
the government for crop movement has
already found rs way eack 10 NeM w
South Carolina applied for 100000 OF
coverucmnt deposits. presumably 10
move cotton, hayinE compiled Win re- e,
the Riggs Bank, Washington came
the request from the South No eolct
be more effective than the command OF
King Canute; Waters recede.' the in
coming tide continues is way
Interest Shifts.
the week from Union Pacific TO Read
:nc Rumors OF q cash or stock as
iribution to Union Paeitie stockn9;i a.,
that the annual 10 per cent. rate VIII
Ss reduced. This undoubtedly tended
to curb speculation. ~. IT,,
shor, in in this stock and sadly re-
marked: Perhaps the shares are hish
enough. but so long as the assets re-
h ms. a, the will OF the directors the
chances certainly favor the stockhold...
ers 50 in the mes n,ime l Will retire.
Activity in the Hill stocks and an
increased interest in the minor Issues
reflects a broadening PUBLIC interest:
So far, however. the bulk OF the daily
trading on the hoGr 81 s sIo,s sIG }rsdiaS.
This includes necessarily the opeut,,
lions OF the regular customer rs "Htt
. COPPER OBI; metal has apparently found
2 temporary resting place around the
IL cent level. Consumers are noioins
Oft and producers sitting tight. As no
neyt thirty days il is figured when the
;ormal demand for the real raw ma
ierial arrears another ADVANCE III ZIG
metal VIII take place.
viewed From Two Angles.
Rock Island issues arc the t5aAguo
ghost at the speculative tac!e. val
pany from TWO ,diHerent angles - ~, Is
held that Rock Island, beint; holainS
concern and has no bonds outstanding,
~ '. a receiver. This New Jersey cor
foration owns all Of Jhe stock OF the
Chicago, Rock Island and Pacific Rail
owns about 81. 100000 OF The S74i3eoo;--
600 stock Of the old Chicago, Rock
Island and Pacific Hallway, and, has
deposited that STOCK as co!la,eraI lTr
ing about 80 The July statement
shows that the old company mace
heavy dcC!c2S" IN net |Nn viii =
i.kel.hc5d OF decreased earnings and
in y.ew or crop damage IN the South :
west further losses are probable on
tho other hand, question has peen
raised regarding the charter OF the
Ney, Jersey holding COMPANY
Brokers ~ touch with the huctua-
tiou in United States steel common!
call tie market natural, W!th Il ZEN
Ceucy 70 Improve.
Fundan=ntally ease IN the none
markets. an expanding pubic dsHlano
a.a- - FaFN
OF an extra disir. button 10 Union IA
cine stockholders are the potent fac
on he stock Exchange There is =
broad interest IN copper shares, prob
ably JUSTIFIED by the. prospects oi a
further advance IL the price OF tse
metal and anaMy the Reading Com
PAM mus; sooner or later issue clear
statcmen; O: its assets 20 TIC puolc
or The government Will 20 X ne nee
theory o. divine right" n finances
is no longer t-0ablc.