Show DEPRESSED PRESSED IN 1 INTHE INTHE THE FIRST HOUR Then Prices Rallied With Some Show of Strength in inWall inWall inWall Wall Street BANK STATEMENT LATER MARKET CONDITIONS NOT YET NORMAL N New York Nov 2 The abstract of or the statement of or averages av rage made ade by W the banks to fo U the clearing clearinghouse house was recorded l on the tape today after atter all transactions at atthe atthe atthe the stock market had been completed had been depressed early In the day to a slight extent but had bad rallied with a show of ot considerable strength in inthe inthe the latter part of ot the session It la Is not unusual for early eaily estimates on Saturday regarding the character ot of the bank state statement ment to prove proe strikingly accurate but no such Luch estimates were were circulated in the usual channels today Operations O at the stock exchange were concluded in Igno Ignorance ignorance Ignorance rance of ot the conditions disclosed by the bank statement The most vital fact regarding the bank statement is that the reserve item is not made to show by b anticipation any part or ot the enormous volume of ot gold now afloat for tor New York and destined to ar arrive arrive rive and flow into bank reserve before the next week has expired Meantime credits have been accorded with unstinted hand as is 18 the proper method of meeting a crisis approved by tried wisdom The loan expansion however must be interpreted In the light of it the issue of ot clearing house certificates which has been in force and which is Included in this item The stress in which the trust compan ies les have labored has caused the usual re result suit sult in an unusual degree of or transfer of s from trust companies to banks a process which it Is perfectly evident does not affect the total outstanding volume of or loans although expanding that item of the banks themselves The figure of or the deficit below the legal reserve require requirement requirement ment of ot the banks is less enlightening than the proportion of ot the reserve to lia ha liability liability which stands at 2130 per cent as against 20 Oper O per cent In 1593 The bank statement does not include the separate statement of government deposits for which the banks are exempt from the cash reserve requirement according to a ruling of ot the treasury department but not by bv the rule of ot the clearing house Bonds were weak Total sales par val value value valne ue ne P S have hae advanced 2 23 the 4 and the s 1 per cent In the bid prices on call during the week |