Show STOCKS SII THE EAST 1 Bulls and Bears Unsuccessful In Their Tactics In New York I WEEKLY BANK STATEMENT 4 NOTHING TO ENCOURAGE EXPECTATION EX-PECTATION OF EASY MONEY Little Pear However of Renewal of Stringency Net Imports of Gold For Nine Iilonlhs Less Than Last Year Trade Balance In Our Favor Fa-vor Grain Markets Xew York Oct 2LThe traders Jnj stocks wcro unable to Induce any notic able movement In prices during the two hours of trading The bears were unable to attack the Industrial specialties when It became evident that the bulls were not In an agreesive mood Sales for spot account were in evidence in the specialties special-ties some of Which dropped off a point or over Realizing was also manifest in Pullman and New York Central but the decline in prices brought out no largo of lerings of stocks and tho bears had generally gen-erally covered their contracts before the bank statement appeared bringing priced back to about last nights level A nominal nom-inal Increate in the surplus1 reserve was seized upon by the bulls to rush up the price of Sugar in an attempt gc indurie a I lollowing1 They were as > unsuccessful as the bears and realizing caused a reactionary reaction-ary tendency in the whole list which was very narrow In its activity Tho closing therefore was easy at trivial net changes either way The main features of the bank statement state-ment were a repetition of those of last week There It nothing in it to encourage p an expectation of easier money but as E last week similar statement led to no renewal of money stringency tho stock market was inclined to tne view that this weeks bowing might lead to no worse result It Is puzzling to account for the 1 greater cats which has developed in money during the past week in face of the loan contraction reported by tho banks of 36356000 The stock market borrowers hope that money will cease to flow to interior points during the coming week There < are intimations of some large holdings of government bonds by fiduciary institutions the anticipated inv In-v terest upon which will be applied for next week and so be made available for tho money market The uneasy and undecided movements of professional block operators have caused I a confused and Irregular movement of pnees As the professionals were still largely committed to tho short side the closing up of accounts has resulted Ira I higher prices That the short interest has been largely reduced as a result of the wekes operations and the strength of stocks thus technically weakened is a safe I assumption The bears hare had their professional opponents to meet who were quick to bid up prices where they detected de-tected a demand from a short interest The bears have sought to facilitate their movement by raiding individual stocks and spreading alarmist reports in hope of Inducing holders to sell The growing determination de-termination of holders not to sell at the lower level which prices had reached was the source of the uneasiness in the minds of bears Operations have been almost entirely confined to these professional maneuvers anti the public had been a factor In the market In the bond market there was quite a steady absorption of long term well secured se-cured bonds at or below par and of 4 percent per-cent for investment denomination for indicating capital Intended a pressure for that rate of return in spite of the higher Interest rates on money prevailing This development in bonds gave a firm undertone under-tone to the stock market where the level of prices In many cases at present dividend divi-dend returns is inconsistent with the high Interest rates ruling In the money market also lenders have shown some eagerness to get funds placed I on time at existing rotes1 ThiS desire has Jed to concessions for small periods The Central Pacific adjustment made very large demands on tho money market on Monday and the fast that the demands were met without creating a flurry added to UK disposition of bears to cover contraCts con-tracts in stocks It was argued that the insignificant volume of applications for the government interest offered in anticipation anti-cipation of maturity indicated that the appearance of money stringency was I somewhat exaggerated The official compilation of the Sept 7 reports of the national banks of the whole country shows that the loans which had been called in by New York banks had been put out again by other banks in tho progress of the countrys business expansion ex-pansion The New York contraction from June 30 to Sept 7 of 10000000 represented speculation liquidation in the stock market mar-ket while the Increase in loans of outside banks of 50000000 Indicated industrial expansion The exhibit cannot be called unfavorable even from a stock market standpoint If instrinsic values are considered con-sidered rather than speculative boom values That New York loan contraction since that date whIch amounts to over 540000000 has been diverted into the tamo healthy channels there is no room to question The incidental throwing oyt of col tprnl securities of millions of doubtful industrial indus-trial stocks has materially lessened their possible power for mischief In case of I > price collapse With an active demand t for credits in business in which bterliiifr f exchange Is hovering near the gold export ex-port point there is no likelihood of money declining to a point to invite active speculation spec-ulation 1t stocks It would bea striking rjomoly for gold to move outward at him i which ot1go usual period for imports in face of the most prosperous pear in history for foreign commerce While the excess of our merchandise exports over imports for nine months this year Is about 76000000 less than last year our net Imports of gold for nine months this year are 113030030 less than last > t nr according to the figures of the treasury bureau of statistics The trade balance in our favor unliquidated by gpljl I payments is therefore over J37000OCK greater this year than last Gold exports under these circumstances would moan that in spite of the world owing us the largest debt for a year in our history we arc still the better supplied with money and can afford to lend The market for bonds has broadened out curing the week and prices have improved im-proved United States 2s and old 4s registered regis-tered advanced > 4 in the bid price Bond Quotations V S 2s reg1OO M K T ZAs 5k U S 8s ns lU1i < 1L K T 4s S2i U S 5s cou1 N Y C lsts112 VS S new 4s COU12S9 X J C gen 5s119 U S new 4s coti1299 Nor Pac Ists113 17 S old 43 reglllffc Nor Pac 3s 6j P S old 4s cou112 Nor Pac 4s101 V S jog reg11014 NYCStL 4slCG 1 S 5s coull X AV con 4sL l2y Dhnrlct I irs117 N W gen fe135 Atchiriton gen 4s SST I Ore Xav l tsU5 Atctilson aUj 4s KFfe Ore Xfcv 4s103 Uaimflo So dslOS O S L tt12j C O 4s S3 O S I con JS11S C O 5s US Ueadinp Gen 4s I74 27 W con j < 145 It G AV IKS Ii X W deb 5s 1tt aLrr cn s11014 CMc Tcr 4s lit S1SF ga Gs124 1i r R G ss 103 St r coasoIspi D R G 4s K > StPCP Iits 12n 13TVG 1 slC dS PCP 5sI20y Eric Gen t 7H So Rat wa 5 sOS FAVDC ists 7b Stan It S 1 6s 79 Gen Electac us112 Texas I vts115 G H S A 6s110 Texas i Is SRI GUSA 2dslOS SR-I P 4 303 z H r C 5s110 C S 4s G HTC con esUOViWUbassh Its 113 Il CcmrtU lsts314 Wwbasli2ds lYi r hCPG 1sts1 1 West Shore 4s112 Ii N Un 45100 AVIs Cent isis W6 Stock Quotations r ehisn 21 Texas Pacific 74 I Preferred wiUnion Pacific Jvii B 0 nh1 Preerred 76 e tantit1a Pnclflc 53 jWabash i 4 annda Bo i 2 4 Preferred 2w ChIts Ohio 25IW L E iis i ahtCWt G w 14x d preerr4s1 U C B = Q11hV1s Central 16 t C 1 u L 2VAdams Express114 a Preferred 42 Am Express US t C E 1 93 U S Express I SI C X W mjilWdlsFarso IS 1 CVR I P lA Am Cotton 011 4H C C C St L 5 1 Preferred 1 I Cello Southern 46Am Matting lI 1st preferred 4514 Preferred 54 2d preferred 17 Am Smiting 36U Del Hudson121U Preferred S7 D L V IWiAm Spirits yu D R G 21 Preferred 20 L Preferred 75 Am Steel Hoop 4351 F Erie 13 Preferred 81h T 1st preferred 1Ani Steel W MW t Gt 1or pretl3t Preferred n 3514 tf Hocking Coal lS4Am Tin Plate 3S f Hocking Valley 52 I Preferred szv Illinois CentralMKAm Tobacco ll Ibwa Central 13Vt Preferred H314 J Prefetred Anaconda nng 44 1C C P G 7iBrooklyn R T 51 1 E AV is icolop 1 Preterrea 80 iCon Tobacco 41 I 0 < Lake Shore 193 i Preferred 91 1 N 83 I Federal Steel 3J Manhattan L 10S i Praferred 77 WG lmt Met hgr Ry109 jGen Electric I19V Mexican Central 13iGIucose Sugar 49 Minn St L 7114 Preferred 93 Preferred Sl Jnternat Paper 2H Mb Pacific 43W Preferred 70 Mobile l1t1 Ohio 41V2Lacledo Gas 77 M 1C k T 32ttXat Biscuit 40 Preferred s Preferred 97 X J Centrol WIXot Lead 29 N Y Centml li Preferred 109 rtollc W 5SNa1 Steel 454 Preferred 6 Preferred 94V orb Pacific 53 4 N Y Air Brake147 Preferred 75i Xo American 1 Ontario W 2 Pacific Coast 4S O R N 42 let preferred 4 Preferred 761 2d preferred CC Pennsylvania ISO Pacific Mail 393 Reading 2 Peoples Gas 112 f 1st preferred 5SM Pressed St Car 5 2d preferred 32 Preferred S3 R G W m Pullman Pa3ace20H < Preferred 81 Stan R T GI St L S F 10 Sugar 149 i Itft preferred 70 j Preferred 117 2J preferred 3GUTenn c I117 St L S w 13 > i U S Leather 15i 8 Preferred 22V4 Preferred 77 I St Paul 125IT S Rubber 4GI Preferred 1 17 preferred 112 St P 0 120 Western Union S7M So Pacific SS I Rep I S 2 So Railway 12 Preferred 70 Prefer 53i P C C StL 7 Weekly Bank Statement New York Oct 2LThe weekly bank statement shows the following changes Surplus reserve increase 253725 Loans decrease 5333000 Specie decrease flGG34eO Legal tenders increase f2S4 500 Deposits decrease 6570500 Circulation Circula-tion increase 140500 The banks now hold 1441075 in excess of the legal requirements The Financiers Review New York Oct 21The Financier says The associated banks of New York City lost 13SO cash a a result of the operations oper-ations of the week just elapsed op reduction of reserve requirements to the extent of 1612000 enabled them to add something over a quarter of a million to the surplus bringing the excess cash up to 74102 The cash decrease was due entirely to the movement of funds to tel Interior subtreasury operations having been in favor of the banks The Interesting feature of the statement lies in the continued decrease in loans and deposits over tho summer and fall season Since the end of June the banks leave reduced their outstanding loans nol no-l s than 78000000 while deposits have contracted over HO000000 As indicating th causes operating to bring about the shrinkage It Is worthy of note that one institution which transacts more or less business with the treasury has contracted its deposits about 33000003 in the highpoint high-point in June The banks as1 a whole held on June 24 last 260358000 spece and legal tender or nearly 73000000 In excess of the amount now reported Figures lirte these go to show the enornious decreases which the banks have sustained since the opening of summer How long this liquidation liqui-dation Is to continue is a matter of cOnjecture cOn-jecture hut It does seem that the tide must turn soon Making allowances for higher prices and the requirement of a increased business at the interior points the fact remains that many country banks arc carrying more money than usual and now that the crop season is ending it is only natural that the surplus coming Into these Institutions Insti-tutions should seek lodging places in the larger financial centers There are bankers bank-ers who profess to believe the return volume of money this fall will be smaller than usual owing to changes In conditions a yet hardly appreciated The easier I conditions in money abroad are regarded as important b financiers who read from the failing quotations of a definite answer t the fears expressed only a few days since relative t possible exports of gold The outward movement of grain and cereals may servo 1 hold exchange quotations qUO-tations at r safe level tatons se Stocks at London New York Oct Commercial Adver ti ers London financial cablegram African shares were again the > features of the market today the news of the victory I vic-tory of the British troops causing a veritable verit-able boom The other markets were quiet but they were cheerful under the influence and the rise of mines Consols went up 516 Americans were lazy but they cose fractionally higher with particular par-ticular strength in New York Centrals Spanish bonds were quoted at CO i and Tintos 14dT latter were freely sold by operators who intend to transfer their interest to the African market The pric wen a low as 47 Anacondas were quoted at 9 1 There were no gold transactions trans-actions today Money continued idle with rates nominal and unchanged Loans Exchange and Silver New York Oct 21 Money on call steady at 5 per cent closed offered at ll per cent Prime mercantile paper 4fj I 5Va per frh Sterling exchange easier with actual business in bankers bills at 4S7 < 34S7i4 for demand and at 4S34S3U for 60 days Posted rates 484tff4S4 < and I 4S8ff4SSV > Commercial bills 4S2 Silver certificates 5SS59 Bar silver 5 Mexican dollars 47 London Oct 2lBar silver 26 ll16d Metal Quotations Xew York Oct 21Pig iron quiet Northern 20005f2400 southern 1930S24CO Copper dull i 1800 Lead 2 w Brokers 440 TIn plate steady The brokers 1800 price for lead is 440 and for copper cop-per 180 Exports and Imports New York Oct 21The exports of specie from this port to all countries for this week aggregated 971457 silver bars I and coin and 27036 gold The imports were 109841 gold and 73853 silver The imports of dry goods and merchandise at the port of New York for this week were valued at 10425030 104203 Condition of the Treasury Washington Oct 21 Todays statement i state-ment of the condition of the treasury shows Available cash balance 2i9G7420j Gold reserve 25415S94 GRAIN AND PROVISIONS I Bearish News Bouts the Bulls On the I Chicago Board of Trade I Chicago Oct 21 Wheat Oycned weak and for thtf first two hours cultivated further heaviness Lower cables an Indications in-dications of u heavy Increase In tho i5 ble supply discouraged longs who began to unload freely from the start The mvar ket showed considerable stubbornness however yielding grudgingly and when finally the price got a fraction below the parity the buying became so widespread that a rally ensue the opening loss be lug rind But the imirrovement was only temporary u the bulls tot confidence confi-dence owing to 1 flood of bearish taMs tics Ttien liquidation und short soiling began to weigh the market down again and I continued to sump until the agn closiriE weak ut the bottom of tie days range December opened lAc lower at70fi > 70Mc declined to Uc rose quickly to 70VC and declined to 69e at the close Bullish country advices moderate receipts re-ceipts and an excellent cash demand strengthened corn Part of the gain was lost on profit taking December closed at B ½ iiOOc Oc There was very lIttle speculation in oats the market holding stfeady uith corn December advanced to 22c at the close PHovftrions ruled steady with prices up a trifle all round owing to the strength in corn Packers bought freely of pork and lied January pork closed W higher at 933 January lard 2C higher anti January ribs 2Y higher The leading futures ranged as follows WieatNo a I QpcnHgh I I Low I Close Oct 6Y 6I C I 6il G De 70 fjO 1 O l 68I May i7 i7311 j i 731 ri Cora Xo 2 I Open I High I Low I Clcse Oct Wi OXSOSSteij S0 S0 De l30303J3i10I 3j30i20 MuyJ l 3 J iIit 32J 3 OatsNo 2 I Open I High I Low I Cloge Dec i 22WI r 2 r 1 22 8 May 1 2124t4tfl4 i 2424fj24i Mess PorkPer barrel I Open High I Low Close 1 Dec S s 790 I 7S2t 1 7S3 Jan 1 9 > > J 937 1 930 i 935 LardPer 100 pounds lOpenjHigbjLow I j I I CloseD Close-D < sir i i1 1 s7i7 > Ai 151i Jan j 530 532 > y 530J 532 Short RibsP100 pounds 1 1 Open 1 HIgh I LowCIose I Dec f 470 I 4iol I 470 1470 1 JUnL I 4S5J 490j 483 l 490 Cash quotations were as follows FiouzStd61y i WTfiter patents 3CO S70 winter straights 330 340 cl C hr J310S3SO spring specials 110 patents 310f33 Prng speial tO pent I I 230ti60 340J370 straights 2505320 bakers i Wheat Xb 2 spring 6SJ70c No 3 spring BgTOc No 2 red 7071c I ComNo2 SIc Oats Xo 2 2aa423c Xo 2 white 25 i 2Cc Xo 3 white 25c I x Rye Xo 2 54Vc I Barlej Xo 2 y9S43c Flax Seed Xo 1 L29iA I TlmtoTfchy Seed Prime 233 Mess PorkPer barrel 7S5790 I Lard Per 100 pounds 5203 522 > Sides Short ribs lOose 475510 SltouldersDry salted boxed 65iGc Sides Shorit dear boxed 540 < 550 ATiisky Dlsfiillers finished good per galion LZ Sugurs Unchanged I Rec Ship Flour btirrels I 15003 17CCO Wheat bushel 132000 7000 Corn bushels 47GCOOi4S6000 Oats bushes 327000350000 Rye bushels i 1 9000 2000 Barley bushels 107000 4SOOO I Chicago Livestock Chicago Oct 21 Cattle Owing to the I limited supply pf cattle and sheep offered today trade was of little consequence jn both markets with prices nominal I Hoga There was an active demand for hogs at unchanged values Fair to prime lots brought 422tf 445 heavy packers 2S5420 mixed 4105440 light weIghts 40511 lAys pigs 3SUiif430 1000 Receipts Oauic 200 hogs 16000 tliem Kansas City Livestock Kansas City Oct 21 Cattle Receipts 1000 Market nominally unchanged Native Na-tive stefers 75 G10 Texas steel 2755 500 Texas cows 240305 native cows 24030 natve C0 and heifers 150i440 siocken anti feeders feed-ers 3251475 bulls 2S5425 2S45 Hogs Itecelpts 5 < 0 Market Steady Bulk of gtleti 412V6 < ff415 heavy UO 420 packers 412A4f420 mixed 410g 415 light 341021430 yorkers 120J430 pigs J4COWJSO 3heepNo receipts Denver Livestock Denver Oct 21 Cattle Receipts 340 Market quiet and steady Beef steers S350ti430 cows 200350 feeders freIght paid to river 2508425 stockers freight paid 200300 tt river 350J420 bulls stags etc Hogs Receipts 300 Market steady Light packers 403S405 mixed and hchvj 4C5fti410 changed Sheep Receipts 1000 Market un Omaha Livestock Ota Oct 21 Cattle Receipts 1200 Native beef steers 1500530 western steers 400490 cows and heifers 250 400 canneis 1759250 stockers and feeders 300 < tT450 calves 4001ij50 Hogs Itecelpts 5000 Market opened easier closed stronser Heavy L05415 mixed 410420 light 412ia420 pigs 3SO510 bulk of sales 412yilft15 Sheep Receipts IWO Market strong Western muttons 3GOfi370 stock sheep 350 360 lambs i504fO New York Wool Market New York Oct 21 Wool quiet Dt > mestie fleece 21z26e Texas llig17cr London Wool Market London Oct 21 During the past week the inquiry for wool continued but little j business resulted owing to firmness of rd grn i holders Crossbreds were In fair demand I and difficult to purchase at auction prices The arrivals to date for the next series of auction sales number 27904 bales including in-cluding 8500 bales forwarded direct Coffee and Sugar New York Oct 21 Coffee Options closed steady at net unchanged prices Sales 11500 bags including November 475 December 493 January 495ft300 t February 00505 March 510 May 520 July 535 September 540 Spot coffeeRio steady No 7 invoice 6c No 7 jobbing G zc Mild market steady Cordova jnJc SugarRaw firm held higher fair refining re-fining 3 13lGc bid centrifugal 96 test 6 516c bid molasses sugar 3 916c bid Refined quiet but steady Xo G 4c Xo 7 4 7lCc Xo S 4e No9 4 5lCc No 10 4 3lGc Xo 11 4 l16c No 12 4c No 13 4c No 14 3 15lGc mould A 5 716c standard A 4 15iec confectioners A 45lGc cut loaf 5916c crushed 5 111 Gc powdered 5c granulated I 5 3lGc cubes 5 516c |