Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-05-28
SURPLUS RESERVES SHOW
s16,729,14O REDUCTION
Announcement Comes at Close Of a
Disheartening Day on Wall
Street.
VOLUME OF TRADING LIGHT
News From Mexico Not Reassuring,
and Serious Trouble Is Looked
For-Motors Listless, No High
Records Being Noted.
by BRoADAN WALL.

NEW YORK. May 27.-A. the close Of a
iisheartenns session In Wall Street to ,ay
reduction in the average surplus reserves
and an ss cloud in loans ON s H
unhappy day, for such statement is looked
funds available for speculation arc going
into active business elsewhere.
Forcknowicdge that tho bank statement
w me Tn ne GSd cubic hodag and ,her
is neither an oxerextended long nor short
interest in the Street made the market In
The volume OF trading WAS light. being
Only slightly above ioGos shT hon, h "nn nny
business they were doing was the execution
o. old orders tina, had stood on th books
were unimportant.
President wilson's sharp notes to the al
caused some hiiarity. Far from being scared
tho Street actually jokcd about the terrific
~ ~ '' IN MExico Is FELT
News from :icxico was not rcassur:nE. and
In that direction at any time. Southern Pa
eifc. Shelters and Mexican Petroleum: the
ence. were heavy. The former two were
lower. and Mexican Petroleum failed TO ad-
vance. although Information of the most
bu'ilsh character was made public regarding
one now high record being noted in the
entire list.
III thlS direction was Also OF
bullish character. consisting largely OF
calculations OF the tremendous profits made
car. IN the hands Of the public Overland.
for instance, let 1t be known that there are
that the available annual prom, per car for
supplying parts is about So. 30 that there
year. which more than covers the preferred
a 70 70 bs H nsw
Great Britain's proposed surta1 on
Incomes from American securities is having
the effect. according To dispatches from
h.e at the @n the
eminent before this tax becomes active
This the object OF the sponsors OF the
The er,cient handling Of previous British
Mquidat,on treasures everybody that the new
condition will not hurt the American mar
ket in any way other than tho e1ertion OF 4
temporary restraining influence.
NEW YORK. May 1.-THE emphatic Ian.
EuaEs employed by the stat, .,1" oepaFt Trsnt
Britain and France led to heavy week
cid session on es the sro1s ,s m o,,t.
issues and affiliated shares. including mo-
tors and mssais were i9wsr by 10 8, a ms
itans. Mercantile Marine. United Fruit and
miscellaneous descriptions
Reading not only enaccd all its lopoint
advance OF the carly week. but at the min
;mum OF loos,. showed not loss for that
period OF almost points. United States
Steel maintained some semhlance OF steadi
moss. yielding only fraction.
General adviccS were of more con-
sentative tenor. reports OF mercantile agen-
cies. indicating. reaction from the recent
high pressure In many lines of industry.
For tho sixth consecutive week. tho clear
ing-house statement disclosed further con-
traction OF reserves. this weeks iccreasc OF
virtually 100000 drawing the total actual
excess reserves down TO about .s5 or. on.
This compares with a total OF $l2s 90. 900 the
latter part OF March. $4,000. 600 the arst
week II the year and ;22o, @? tina middle
Of last September. This weeks statement
also showed loan expansion OF almost $:3-
$4,000 and cash loss OF approxima teiy
5000 coo
Bonds Irregular. Total sales. par
value. $l.7loGno
The general trend OF tho government is
sues during the week lower. declines
call extending from l. to n of per cent
but with little actual trading.
NEW YORK, May 27-Mercantile paper
ia. Sterling. sixty-d bills. Si.72N: demand
S;5S: cables. i.7s... Bar silver. 7lA Mex
lean dollars. 54T. Government bonds. steady
Railroad bonds. irregular.