Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-07-09
WALL STREET WORRIED
OVER BANK STATEMENT
Except in Few Gases, However, Prices
Do Not Go as Low as on
Friday.
TECHNICAL RALLY ENDS DAY
Many Coppers Barely Steady. While
Anaconda Shows Distinct Weak
ness Mt One Timc-American Zinc
Makes New Low Record.
BY BROADAS WALL.

NEW YORK. July s.-Trading being purely
moro than usual attention paid to-day
TO tho bank statement. It showed a de-
crease I'm actual surplus of s35.7i7Sso. a de-
crease in loans Of s3s,iI20oo and a decrease
In actual net demand deposits OF $s7.3iG0o0.
The average statement showed a surplus
decrease Of siiifi.t31. loan decrease Of
of s62 22G.Go0.
This statement shows that at one time
during the week tho banks In very
much worse condition than Friday night.
Even tho Friday night figures. which are
tho ones used In the actual statement, will
be called bad BY Wall street The big
figures In the bank statement this week are
10 the payment Of the largest Interest and
dividend disbursement ever made in July.
REIMBURSEMENT SEEN
what worries Wall Street is that there is
no evidence OF the reinvestmen. of all this
money. That is one OF the reasons the
market was so heavy to-day The pro-
fessonals did little and the public did
practically nothing. In the first hour there
bear party. Prices did not CO. except In a
few cases. as low MS on the previous day.
rally ended the day. Net change, not
material
American Zinc made new low record.
dus,riai Alcohol weak. The reason
given for selling these stocks was fear
reason that operators and no supper,
IN these directions; and feel safe to hammer
Il
look as weak possible to discourage buy
Ing in other directions. The ruse has been
successful thus far. Many coppers were
barely steady. and AT one time Anaconda
showed distinct weakness. Motors were
Irregular, but without distinct weakness in
any issue. Grain and cotton were
steady. although tho government report on
crops was distinctly bepish.
NEW YORK. July s.-Profcssional traders
were in complete control OF to-day's narrow
and per:unctory !rarhc, There rela-
,wsy heayy selling Of United vl States In
Cruoib!e Stee! and Motors. Alcohol recorded
an extreme decline OF l-2 points. dupN-
eating its low price OF the year at re "a.
Coppers and affiliated shares continued TO
when not under severe pressure. Sugars
and tho shipping group lost some ground.
but the stable industr!als, including
United States Steel and Lackawanna Steel.
firm.
Rails played no part worthy of comment
aside from cons!derabl" activity In Denver
and Rio GFands preferred. which rose almost
points The nickel Plate control Of
which recently surrendered by New
York Central interests. made recession OF
points 10 50.
The actual condition OF the clearing house
institutions fulfilled popular predictions the
bank statement showing cash contraction
Of abou; S53.oo0.coo. with decrease OF almost
$4,000 600 in surplus, drawing the excess re-
for this item since the new system Of weakly
reports came into operation
Bonds were easier. Total sales par value
$4,000; United States and Panama Ts and
United States registered SIS declined IL per
cent on call during the week.
NEW YORK. July s.-MercartiIs paper. l.
Sterling. eD.dny bills. si.72: demand. si7sY {;
lars. ii75sl Government bonds. steady Rail-
road bonds. easy.