Show WEEK IN WALL STREET Market Has Been a Sufferer from Demoralization I SPECIAL STOCKS HIT HARD I I i There Has Been a Withdrawal of tho Influence of Investment Buying Besides There Has Been a Selling for London Account which was Only Discontinued When the Reduction Re-duction in Discount Bates by Banks of England France and Germany Ger-many Gave Confidence SILVER New York < > San Prnnel3co london 2i 3lud LEAD New York brokers 113 COPPER Ncw York brokers 51600 Silver and Drafts Now York Jan 13 Silver certificates lfrJJfde llsir llvnn rte Mexican dollars 4Th Sun Francisco Jan 12Silver bars Mexican dollar l 5TlSl ½ c Drafts Sight J2c tolegrnph IGc Money and Exchange New York Jan 13 Money on call steady at 3 per cent Prime mercantile paper 5fii per cent Sterling oxchaiujo Bloady with actual business In bankers bills at J4feGi1cl for demand and at SIRSfijsa for sixty days Posted rates 41ijtll A and JlSTjOlSS Commercial bills IS2Vsry tKJ New York Metals New York Jan 13The brokers price for lead Is fl 13 and for copper lOc Son Francisco Mining Stocks San Francisco Jan flirhie official clo slnic quolatlon for mining stocks today were as follows Alta t M Alpha Con 5 03 Antics 00 Mexican Jioleher 1U Occidental Con 17 Post Belcher 22 Ophlr C1 Bullion 01 I Overman Oo Caledonia 17 Polosl 2 < J ChalleiiRO Con IS Savage Ifi Chollar 2C Scorpion 02 CoufldoDco Jil SobBelcher 03 Ton Cal t Va iVsSirra Ncv J3 Crown Point lulsifvor Trill OS nuld ILIF St tiulnri hlaIc Nor s lTIIIn Con TustIc i 01 11811 Clot 03 1tititck ott OiY cHow Jackel 22 LaLl Wash Con 02 NEW YORK MINING STOCKS Am S Reiugi3T00 Citollar 22 jreferritl ST5i Ontario 72 Ciown Point 03 Opitir 60 rim Cal Va i0 Plymouth 1eadwood Z tuieksilvcr GoUld Curry 18 preferred 7J ltalo Nor 3SIeira No 10 IJomestuke tJ00Stanthard 260 Ibm Silver 100 UnIon Con 23 Iron Silver 52 Yellow Jacket 13 Moxicun 23 BOSTON MININO SHARES lcnturo 600Afl Mm Co 360 Atlantic 24C0 Parrot 4060 Bcet Mont 27060 Quincy 14560 Butte Bos 4300 Santa Fe Cop v75 Cal Ileela 71560 tftmarCek 1S7C Centennial 17I0 Winona 4i Franklin 1400 Utah 2323 Humboldt 101 Wolverines 1000 Osceola 700 TillBUNG SPECIAL Boston Mnps Jan 11 Copper shares nt a utardMtlll and wjiat trndlng did take place was without significance AmnljM muAOd sold tit SJo In curly I null tig later SIT8 und offered here Centennial Eureka siren at 22COtfZ500 with several large orders hi to buy Just under the market llornblowcr Weeks rS State street Boston furnish these quotations Stocks Sales High Low Clone Amalgamated MO ST 37 < 81S71 JioS7J < niimhnm LCO 10CO Cochltl ICO 1325 1275 1323 Cenl Eureka 25 22M Navaho SSWgSiX Boston lEOtGOO Grain and Provisions Chicago Jan 13The wheat market llko tho fat boy of Pickwickian fame look naps on every posslblu occasion to day Feeling was generally boarMi but trade was so small that nothing of ntty account rcHulted from the eirtlmcnt Scaplers when anything was don were lie ones who did It May opened a shado up at < r7vvfjC7 ic hr > caue Jlvarpoornhowcd c achnimn Kollowint this lay casid off to luVnCT aC Llglft pYlinary receipts and fair clearances together with some inlsxPllaneouB reports of jlamago bv 1 In sccls furnished sufllclcul jsiippottlto carry car-ry Ito market up a bit May touching G7i tffCTTsC Those who could took small pro llts at this point and tim market eased off again Tho COHO was h < troly steady May lc over joatorday at GTOiC r As offerings from first hands vroro no larger and the weather not favorable for the movement tho corn marketremained firm but ulet and handled mostly by scalper May closet a shade over yes terday at ISOVfiaidc Oats were steady and featureless May closed unchanged at 2lc The provision market ruled firm at a trlflo under yesterdays prices Trade was moderately brisk at times but generally dull May pork closed 2ffr5c under yes terday at SllOOSll02V6 May lard unchanged un-changed at 007Vi and May ribs 2 > A lower low-er ax SGS2 ½ RANGI5 OF THE LEADING FUTURES Articles Open High Low Close Wheat No 2 January 64 t WXj 64 V6 OlVi May j C7Ti 674 Gc1 G7ft July C3 i 63 GSt Corn No 2 January 31 JU OOTS 2071 May 3S XJV t5 tw July S3V6 3Ui S1V8 ai Oats Np 2 January 22 22S 22 22 May 21 21 21 21 Mess Pork January 1075 1077V 1075 107 May 1100 llWV 1007 11iZ Lard January nf May C07V5 GOiA C05 G07U Short Ribs January 5 f < 2A May 5S2V 5M 6SO c CASH QUOTATIONS Cash quotations were aa follows Plour steady winter patent 3i0g50 straight t001i320 clean 2t3l0 tpring sjo cittis 3i01i0 rntrit 243i0 stritiglit 26i3C0 bniers 2t7260 No 8 trring WltCLLL flt31c No 2 red 6I67c No cotn iilr No 2 oat 23c Io 8 white 2i2e No 2 rye bIr No 2 earle 12c o I fIaxsed L10 prime timothy seed 23i423T mess pen per barrel i5f71oS5 lard per 100 pounds tsltort rile sides IoosC CO1S0 dry saltod slioulderJ boxed P SS e nhort clear sides boxed 3585 500 whisky tlla tlllcrsV finished goods per gallon 123Vfe basis high wines RECEIPTS AND SHIPMENTS Articles Ilcpta Shpts Flour barrels 32000 33000 Wheat bushels 75W 25000 Corn bushcla 402000 SCCiOOO Oata bUHhelg 250000 202COO Rye bushels 10000 30000 Barley bushelu 72COO 3000 On ho Irottuco Exchango today the butter market was steady creamery 22 2Sc dairy 17l2Tc e1iese rm 12ZJI2Mc cgg fresh lie Coast Grain San FrnnclsfojRii 35 AYhcat I nlcady I Nol Bhlpphie fi3tue uilillnfr U7 ½ t7iw Barley 8teflO Stocks and Bonds Nuw VorkiJan LI Thu strIctly profes slonal limits of tnuln r on the stock ex change WUH well Illuslnilcd by the almopt complete obliteration of the itJonilnjrH ad vinco In tho movcmunt to take prollla alter the upjiufirunco ot tho bank statement state-ment Thin exhibit wan In i1aiiC a favor nblo one UI < went all the other Incidents of tho day ind It confornTHl to tin pr llniliniT estlnialos on which the bujlnc h uMx > c4i bard Tho jrninK to lake pro ntj aH roaponfclblo for the aUvnnm In prlce y arid war per coniro7 sulllclcnt It brlnp prices back to about the starting point The activity In Sugar certificate continued con-tinued the price rising an extreme T points against tho shorts whoso covering ilumund helped on the advance The bears quickly detected the rcallzlnt after the bank statement and forced Sugar down J5t iiolnts Brooklyn Tranxlt and Tobacco showed close sympathy aivl some other specialties lost a point or over a docllno oC 1 In Now York Central showed some special pressure against that stock Otherwise Oth-erwise gains had been fractional and Ito reaction did not exceed UUMII Thero was some selling for London account ac-count as prices rose above tho London parity A fractional recovery In London discount rates and a Jump of 3 pfennigs In Ito sterling exchange rate at Berlin woro without explanation The bank statement fully accounts for Ito Increased disposition of Nov York bankers to place time loans at present rate and their reappearance re-appearance as buyers of commercial paper pa-per Time decline In money rates la I 8itO bringing renewed demand for railroad bonds from sonic of Ito great Insurance companlns Some heavy individual transactions trans-actions In bonds are recorded Tim central fact in ito situation In tho stock market Is thu tho buying demand Is listless and narrow and without stimulation stimu-lation by any favorable developments In the Immediate outlook Even tho investment in-vestment buying luis almost ceased cither because prices are above an attractive level or because tile available funds from dividend or Interest disbursements have found Investment Investment buying does not In Itself servo to advance prices greatly but It bus a large sentimental effect ef-fect as It Insured tho constant diminution diminu-tion on time Moating supply of stocks held merely for an advance In price Tho market has suffered from the demoralization de-moralization In special stocks in addition U > time withdrawal of Cite Influence ot Investment In-vestment buying There bus been besides belling for London account which was only dlscontlnuixl when the reduction In lie discount rales of the Banks of Bag land Franro ami Germany gave conll denco In the reality of Uio relaxation In money rates Tho volume uf foreign soil Ing wan not largo and would have been easily absorbed In an ordinary movement for nn advance but as time foreign selling grew out of lie npcds of the London money market and served lo Increase the pressure for gold In New York there wrH no disposition to hold up prices to afford a inarK et < for London sellers to make pro Ills Notwithstanding the small demand for stocks the supply was scarco and railroad ulocks have responded quickly all week to anv sort of buying demand the market glvos ivldinre of lliiiildation of SiiUCU latlvo holulngs ol stocks StaliMiionls ot tin New Yurk cliarlnghouso baitKS as well nt those of llio gicat foreign banks show that speculators the vorhl over havi boon Hollln tholr lioldlngs vaylng IT loans and withdrawing from tho Held Mativ commissionhouses and brolceragn offices In Vail street which found busy occupation all of hist year havo ceased lo Invlto cistom ponding tlie development ot new factors In the outlook This closIng out of accounts now safely attained balM Involved somo heavy losses and no small bitterness of apirll which Is relloctod In Ito discussion by brokurs of Jiidustruii comblnatlniiH and their Uolallons In a spirit far from complimentary ThLs frellim was dorpenod by the strong official intimation at tho I stockholders annual an-nual meeting of tho American Sugar lie lining compunv that the bushu ss vas not proiltablc In lime pivscnt soimo of new compBtlllon and that dlvi < lrnds would probably bu reduced or suspended during tho coming year Professional operators thereupon fell tooth and nail upon the Sugar cprtlllcatos as well as other Industrial Indus-trial shocks and old them by the thou sand shares TIm railroad list dUl not escape entirelY The low but was much less affectMi price of I he dlvldnndpaylng Industrials bringing the rate of return In sonic nj sup s-up lo S per cent or over rellccls time hating of the risk In holding these stocks Tho beginning of dividends on the common com-mon sltKks pf homo of them has fuUci to elicit any advance In price and time preferred stocks of some of tho companies lavo shown a leTUCDoy In such cases lo I decline as having the safely ot their dlv idendc inlphCti tricLvis an element In Wtil street who preach the doctrine that the oumitry has rchchcd the crest of pros pent Thev clto In evidence of this the marked diminution of the grain and cotton cot-ton movements compared with last year and point to the comparatively small increases oE railroads creases In gross earnings WlilFo these TshoVlast years earnings well maintained IrtSt years Pfosporl > has already been rellcctcd In hrlcca and higher prices depend on increased pros ner tv rather tliAn on tho maintenance Sf lie presenUorcl Ighprtcos 1 of commodities com-modities arc lIkely t > curtail time demand Advances In rhlJrfiad Vatos now being enforcl lead to falling ffin the volumrt of traf o JncrQasea cost of material makes oncroachiiiont on net earnings by enhancing tim cost of operation Such are somo of tho reai ons asslgted 1li1L cap Itallsts and openttois In secinllleb ipr their 1 diaincUnatloa lo put money Into to wit stocks at present They Prefer dovelopnicnts Tho Increased coat of op the Iratlon la parllcUlarlf noticeable in railroad of Uio hlghprlccd case oC somo stocks which mnliiulncd their dividends through the periOUiI doprcssjqn by econ orny On oIaCraIQI the other hamd tonio Su tim rail rcSSs whICh ivfe through lank antI rogiLttZing show limo effect sH in acquIred of the large ut a of funds reorganlzaUoinoi betternicnt iiid Improved equipment durlnir tne pcriou itmmdhn1proYCg for Wertal Inproaont ro of lo price ad ductlon of operating expenses to tho The mpniKet ° for 1omtls tigs has been amall United well maintained were hut nrlcos and qmicJ is rCKlstcrell declined 3 United States new States coupon 2sJ old is mid W4 in1 the billprice BOND LIST 1etnliQ 1J S2s rcg A Nor U S 3s rpP 10caNor PacSs vII l > ac1s Xor II S s coup U S new Is l re Or NiL Isls Or Nav Is IT S i 1i 4 n 5 UUIl laiK i rrr F Old is couplI O S U S coupJJtVj R c v i ts ii S Os reg llif U Pae is 5s coup Colo South 4 85 B G ists So Pac Is S2 I l D R 0 ctoSiG STOCKS S S2KWi 30i Union Pac KWi 1tdtiiroti c1 preferred i 7 Wabawh j Jy 3a1t 0 preferred Can plc Wheel L 1 1 tLII Sottth 2nd pfd CltdS Q i Clue Gt Express Companies Clue 14 Q Com-panies Chic ltitl La Adaiua 112 tireterreti a American 112 CEde F lU ri TTnltid States 1 ClthcN Wells Pargo r7 ISO Chile ft I Pnc Mlficellancous I C P St Amcr Cpt Oil 73394 Cole South preferred > 2 igt pfd a Amcr Malt 2nd ifI ireferrl Del ilud 11 Am Smelt It Si Del L v Vest hi iTv preform1 o w D R G Utf Amer Spirits 2 preferred < referrcd Ii Erie iAv Am Steel ULoop if 1st pfd fl preferred SL J Gt Nor pfd if A Steel Wire livi Uock Cool i preferred 00 IToclc Val ft l Amor Tin Plato SOi ill Cent ii y preferred 81 Iowa Cent I Amer Tgbac 9Ju preferred = preferred K C P t uhf I Ana Mitt Co aho E W 23 Brook R Trun preferred Cole F Iron Lako Cont Tobnc Louis f Nash tJ preferred Man T 3H Fed Steel Cl M tet St Ky 165 ½ jrofcrred 72 Mex Cent 11 Gen Klcu 1 5 Minim St TJ s Glucose Sitir frO6 preferred fl profcrnd 07 Mo Pao lOVi Inter I Pu Pit t Mob O 10 t preferred Mo K Tex 10 TacJcdo Gas Irofrrrod I Nat niseult 20 N J font 116 lireforretl 81 N Y rent 13TJi Nat Load 26YI Nor West 21 preferred preferred CO t Nat Stool hl Nor Pay 51l4 profcrrqd fC preferred 73la N V AlhBraUelS Out West 2li North Amer U Or Ry Nay f 42 Pac Corist COV5 preferred 7G 1st pfd 53 Pennsylvania 152ii nd pfd i il Reading 17i Pric MtIl 43t Jst pfd rA Pcoplos Gaa wl034J 2nd pith 260 P Stpcl Car WJ It 0 r pm erred 5 Preferred SO Pull Pal Car 157 Stl fi S F i Stan R t Twine Otf 1st pfd OS ugar ll < r 2nd pfd 32 preferred 111 St L S v 10U Tcnn G it Iron Sll preferred 23 U S Leather St Paul 11712 Preferred74th profcrrod 170 U S Rubbur llS i gt P Oma 115 preferred Suutli pnj 37 West Union 57 so RV 1lt R I < fc Stool om preferred l preferred rex Pau i5m P O C SU L 7Di foreign Market Nw York J 1n 13Timbi Commercial jll rMer mc lOihlOn llnuocial cablegram > Y B Uines In tho marlccti here to Uvn i wts very small but the r0110 was excellent baavd on hoDes of pood nows rom time prnn vaa1 which the profca hnrn nf blnn to tlclpnto lnImarUctB Mpcka Connolh wore up c and iel cheorimi reCttonp money helped time nrIlll y1 rtcii shared In lie lln PrOeiflofl but tIo IfMtlUjUJVaB Of JPJOUtO I P1OJortlofl No gotrj us iprolvcd or eti 1 tg1 iino ritM continued cary wt Jtwlvrdaj a rate and bills were scarce Large money balances are unemployed but the sold position Is tslll watched with some concern Holland Is expected to buy specie und the wupply is meager IL la feared that India vhlclr is InlTccptlnpr Australian arrivals will lake bullion A shipment will be made next week Silver was Hlronjf Speculation In It IH awakening In India and tho market demand Is keenly felt Time markot Is nervous watching French tenders today vlilch may continue for some time though not so long ns last year Butter and Eggs New York Jnn 13 Butter Receipts 1324 lackctges Juno creamery 22ie Western creamery KJftTe factory Ylfn I 22c KKPTS Rocclpls itWJ packages market steady Western 20c loss oft Western ungraded at murk llijiSc KANSAS CITE Knncaa City Jnn 33 Cattle Receipts 200 Market unchanged Native steers SlOOffO10 Texas steers 5S5fH3 Texas cows 3XVf < 3 0 native cows and heifers WKIj175 stockers and feeders WOOJjjOO bulls 2i > SJEO Hops Receipts 7000 Markot weaker Bulk of sales l54G5 hea and packers pack-ers Sh53Ii65 mixed 450iIG2 lights 4j5459I4 yorkers i62 imhgs l01J fJi40 Shcop Receipts COO Market strong Lambs IGOOfcCSo muttons l2igoOO OMAHA Omaha Jan la Cattle Receipts 500 Market nlrong Native beef steers i25 GOO Western steers l00t35 I 1oxzi steers i70l 30 cows und helferf 1tO I cnnners SlWMiaOO stockers and feed CM Wijr > ft4s calves 5003700 Bulls slugs etc 270ffIOO lloprs Rccclnt > i 9500 Market shade to 5c higher Heavy i2 VfcfHGO mixed SJKJAIM light hocI3 I > jIg J10ij 1 M bulk I of sales 152iMj Sheep Roc > lpts 200 Market strong Native muttony iiOiti35 Western mat Comma l20f30 stock sheep NSOfr130 lambs 5lGOifCOO DENVER Denver Cole Jan 13 Cattle Receipts 2 > 0 Market strong Beef steers 32Mi r50 cows S 2 > J40 feeders freight paid to rive J2ifM C5 stockers freight paid to river 32 ii5W bulls stage etc SZOQIf 300 J Jogs Receipts 500 Market G i7o higher Light packers lu2iu4v7ls mixed SIWHra1 5 heavy if7jl62 Sheen Receipts i zj Market steady Good tat muttons IOvfjM50 lambs l50y > 5GO Weekly Bank Statement New York Jan 13TIme weekly bank statement shows the following changes Surplus reserve Incrouso 1M9f 25 T < oiin8 decrease 3WS9 < iO Speil je liicroii Q i26iIOO Legal leiidcri Increase 375 8X Deposits Increase oJIJfO Circulation IncreaMo j SUtJO rite banks now hold 516707350 In excess ex-cess of tho legal requirements The Financier says The New York bank statement for the week ending January Jtth was even better than had been expected The surplus reserve increased In-creased almost 55000000 and the exceap above legal requirements now stands nt SlG707o50 a sum greater than time banks have reported since June 21th last although Jn August the total was almost as high As the deposits during dur-ing the week remained almost stationary station-ary the entire cash receipts of the week went to swell lie idle cash in banks thus accounting for the unusual expansion The liquidation that occurred on the stock exchange Js reflected In the decrease de-crease of 1558000 Jn loans The statement state-ment docs not balance but there Js no question that the position of the banks iseven stronger than reported Lor Interior In-terior receipts Increased largely at the close of the week The gain came almost al-most entirely from the Interior the exports of specie to Europe the previous previ-ous Saturday counterbalancIng treasury treas-ury receipts The banks Jn fact are gaining aa rapidly In surplus this month as was the case a year ago with the exception excep-tion that the expansion in cash now counts altogether in surplus1 reserve whereas a year ago reserve liabilities occasioned by the loan and deposit increases In-creases were locking up from 3000000 to 5000000 weekly For Instance the deposits of the banks during the month of January rose almost 57000000 while loans expanded ex-panded 523000000 The reserve requirements re-quirements were therefore over 11 000000 heavier but despite this fact the surplus reserve actually gained 18000000 This year so far loans have risen less than 2000000 deposits only a little lit-tle over 9000000 while the excess reserve re-serve is less than 6000000 heavier The expansion therefore this year docs not compare with that of a year tigo although the gain In reserve is on a plane that nearly equals that which occurred last year It Is not to be oerlooked in his I connection that the banks last December and January were not losing gold to Europe as has been thecase lately These facts go to show why with everything favoring speculative activity a movement of that nature has been Impossible The banks have not been in a position to provide the money even had the In ccnllvcbcon of the strongest |