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Show I" CLOSE TO BILLION DOLLAR MARK Loan Expansion Shows Anothej-jj Anothej-jj f Enormous Increase Wall Street I Shares nt Low Ebb. NEW YORK, March fc-The stock market mar-ket came under the lufiuence of the threat of a Northern Securities decision on iron-day iron-day and lost more of the small gains which had been established by the slow and laborious hardening movement of the -whole of the week up to today. Tho mar-kot mar-kot closed easy and at declines running to a point In a number of tho prominent 1 Btocks. Tho volume of liquidation was H, unimportant and Indicated nothing more r than traders' positions In the market, but the Impelling motive was clear enough and wis corroborated by the weakness of northern Securities Itself on tho curb, -the bank statement was without anv in- lluence. The Increaso In cash was slight ly leas than expected, but tho fact that thero waa an Increaso at all Is evldenco of tho continued tendency toward congestion conges-tion of reserves. The loan expansion was viewed with equanimity ln-vlew of tho condition of the reserves, notwithstanding that the loan ltom established a new high record ngnln, with an aggregate for tho clearing-house banks within 5S2.000 of a round billion of dollars. This is supposed to reflect renewed re-newed corporation borrowing. Including the ?5,000.000 taken by tho New York Central Cen-tral and the same amount by the Burlington. Burling-ton. The fact that the latter was placed , VJn Chicago would not prevent Its reflection in the New York showing. Railroads reporting re-porting gross earnings for tho fourth week in Lebruary show come Increases over ' tho similar period of last year, but the' additional day In Februarv of this year which flgurcs in tho showing distorts tho comparison. Foreign Influences were against the market, London being con-irontcd con-irontcd with a mining setUcmont next I c;fc. JU9t a'tcr emerging from the strain : of tho Paris settlement this week. Con sols, as a consequence, touched a now low record In London todav for tho move- Total sales of bonds, par value, 5940.0CO. DEADLOCK IN SECURITIES. !.Th? deadlock jn the securities market i j5.0011 unrelieved this week, notwithstanding notwith-standing tho passage of some of the influences influ-ences that have been tho assigned causes , of the apathy In tho market and tho con tinuance of some other factors of a depressing de-pressing character. Buyers and sellers desist from activity, and tho result Is an almost motionless market which Is tho .; despair of tho trading element and also t of the brokerage element, which looks to I commissions for its business profits. I Tho market Is hard and free from uj pressure, but tho maintenance of prices ?nJ!s t0 Invllo any absorption of stocks. rho behavior of individual stocks under an occasional attempt to liquidate a small amount occasions a dread that the firmness firm-ness Is purely illusory. This is especially true of the obscure stocks, which are only traded In at long intervals. Instances are cited In the stock and bond divisions whoro a nominal quotation is maintained ' , for- weeks by a bid for stock wli.i none i pfrerJng. but where the offering of a small J)lock or tho knowledgo that a small block Ja to bo offered. It 13 tho occasion for tho lujmedlato lowering of the bid bv manv Vj?s- If t-lie stock is to be sold'lt must vrr , Cqiuonc at a wide concession from tho h I r-noyrM,02rruotatlon v.'hlch has been accm- ' u' lni;ly held with great firmness through .i i many depressing factors In the general iH' 1 condition. On tho otlyr hand, it Is found H in contrasting cases that an attempt to m i buy In comparatively small quantities of '1 I a given issue will necessitate the bidding ' up of tho nominal quotation several ft' , points beforo tho desired offerings are I found In tho market. In the one case, as It in tho other, as soon as the active tension i is concluded the price quickly returns to F tho nominal' level. Ij LOW EBB OF STOCKS. I I Tho rato of stock market actlvltv has i dropped to a level as low as that pre vailing In tho summer of 1000. and not reached before that time since the early part of 197. In making the comparison, V allowance must be made also for tho enormous additions made In that tlmo to the stock exchange list by reason of the heavy Issue of new securities of Industrial In-dustrial and other formations. The lethargy is the more notablo In view of the accumulation of reserves In banks and the nominal rates at -which call money is loaned. Resources are frcelv employed In the speculative movement's in the commodity markets without causing caus-ing a ripple on the stagnant surface of the stock market Tho money outlook Is not without Its obscurity, nevertheless, and Is undoubtedly a superinducing cause j of the lethargy in stocks. The continuing high rato for timo loans paid by tho great j railroad corporations on their notea Is j an Indication that resources are being conseiTod by the banks for expected de- mands of this character. The fixing of f the date for the withdrawal of Govern- 1 mcnt deposits from the national banks to I provide for tho Panama canal payment Hcrves to define the lines of ono of tho J uncertainties which have clouded the money market, and to establish confi dence in the ability of the market to f , meet tho situation without disturbance i n The disproportionate ease In the call loan ) market Is partly explained by tho policy !. jj of tho railroad corporations In keeping ; the proceeds of note Issues on deposit , with the great banks for uso In the call ,H loan market pending their active omplov- M ment. f BANK CLEARINGS. mu3 1 The shrlnkogo In domestic bank dear th ings nnd the deduction to be drawn as to I cw3 the docreaso In business actlvltv Is a fac- ! tor In the current case of money, which ' V deprives that fact of Its power for reas- ' Hfl Buranco to speculative sentiment. Tho k' im heavy fall In net earnings of railroads reporting for January gives additional AM forco to the consideration of tho business outlook. It is not expected that any de--ftJfcj vclopraent will effectually release tho M stock market from its constraint until SM tho Northern Securities duclsion Is hnnd- - fffl ! down. Tho bond market has shared tho apathy and sluggishness of the stock I market. United States now -Is coupon and old Is advanced i per cent on call during the j VOe" NEW YORK BOND LIST. XT S ref 2s rcg..l01: L & N unl -Is. ...5Si,i coupon lOT. Manhattan c -is.lO'J I' S Js rcg 101 Mex Con 4s G3' coupon .10CA 1st lnc U S new -Is reg.l82Vi M Sz S L -be 8C?i coupon 122V0 M K & T -Is 97H U S old 4s rog..l0G; 2nda 77 coupon 107 Nat Mex con -Is "o Atchison gen 4a. 00i N Y C gen Cs...2S ndjt -Is SS'i Nor Pac 4s 102 i -f- Atlantic G L 43 !)1',5 3s , ... 70'j B & O 4s W'JA N & W con 4s.. 07'. 38 O S L 4s Wfy C of G f3 105 Pcnn con 3... 05Mi lot lnc CtJii Read gen 4s .... Wi Chcs & O 4&s.. 101 Iron Moun c 5a..ll2ii Chi A 3!&? 7G S L & S F 4s... SO C B & Q now -Is 01 S L fz S W lsts. S3 CM&SI'E 4s.l0S Seaboard 4s .... C & N W con 7sl29Vfc Southern Pac 4s SSy C R I & P 4s.... G9 South Rail C3...112M, Col Gs 77?srT & P lsts mAi C C C .fc S L g -13 03 T S L & W 4a.. 67 Chi Term b ...0 Union Pac 48... 102 Con Tob 4s .... D7 conv Is 05 Colo & So 4s.... SIVj U S Steel ?nd 5s TZ,& &jy9 t & R G 4s 07& Wabash lsto ....IIBVj MWl Mrlo prior lien -Is !XV; dob B EQi J? tSfen -Is l W &li E 4s.... S7 B&l 'ytw & D Clr.t.105 Wis Con lo SO BK Hock Vol 4y.-s..lO-l Ki NEW YORK CLOSING STOCKS. 'JMl Sales. High. Low. Close. 9' Atchison 0.SOO 05 65 preferred W0 H' SO fA mAl jSSt & Ohio 3,700 754 74 71j HI preferred. , DW iS Canadian Pac 200 110 11054 110 Central of N J .'. 163 Ches & Ohio 100 23 20 29 Chi & Alton M0 fij S:& 20Vi preferred 100 82 82 81Vi Chi & Groat West 14Vj Chi & Northwest.. -W0 1C3 1C2 1C2 Chi Mil & St P 7,700 130& 13S& 13 preferred 172 Chi Term & T 0 preferred 20V4 C C C & St L 7C Colo Southern 20) 17 16 lG-fe 1st preferred ..... 200 55 65 u5 2nd preferred 24 Del & Hudson 300 155V lc6 'A Del L & West 200 Den & Rio G. 15 proforrcd 100 05 C5 65- Erlo 2.7TO 23 22 22 1st preferrod COO C2Vb G2',fi G2y 2ml preferred .... 200 3S 33 3S Hocking Valloy 72 preforred 78 Illinois ContnU .... 700 127 12C,i 120 Iowa Central 10 preferred 34 K C Southern , .... 17 preferred 32 Louis & Nash 600 103 102& 102i aianhattan L 000 143& 112 113 Met Securities SO Mot Street Ry , 200 114 114 113 Minn & St L 1 rg M St P Sz S Sto M.. GCO 02 CI COVi preferred 117 Missouri Pac 4.400 Sf! 8"V2 87 ro K & Texas SOD 15 15 15 preferred 35 N R of Mox pfd 35o N Y CenU-al 2,100 114Vi 113 HB-i Norfolk & West.... 200 56 65 H preferred .... S5 Ontario & West.... 400 20 0 20V& Pennsylvania 21,900 11S 1121 U2i P C C Sz St L. K RcatUng 3, GOO 414 40i4 404 1st preferred 75 2nd preferred .... 50 Rock Island Co .... 6.000 20 19 20 preferred 70-3 00 60 CO St L & S F 2nd pfd 100 42 42 41 St L Southwest 13 preferred 30 Southern Pac 4,30-3 44 & 43 43 Southern Ry l.CCO 19 lSTi 1S preforred , i 70V. Texas & Pac 22 T St L & West ' 23 preferred ; T53 Union Paa S.SOO 74 73 73 preferred .... Ewj Wabash 17A preferred 200 33 33 33 Wheel Sz L Erlo 15 Wis Central IS preferred 40 Express Cos-Adams Cos-Adams - 220 American 1S5 United StatC3 103 Wclls-Fargo 2CG Miscellaneous Amalg Copper .... 1.7C0 40 4fVJi 451 Amer Car Sz F.... 300 20 10 10 preferred 200 G9 C9 63 Amer Cotton Oil 20 preferred SS American Ice 7 preferred 400 31 80 30 Amer Linseed Oil 9 preferred , 27 Amor Loco 3.100 23 22 22 preferred 100 81 Sl 82 Amor Sm & Ref.... 100 47 47 47 preferred 200 10 90 00 Amer Sugar Ref.... 0.100 121 123 123 Anaconda M Co C2 Brooklyn R T 10,500 41 39 39 Colo F & Iron SCO 30 30 29 Cons Gas 1.S00 101 191 191 Corn Products .... l.ROO 15 13 15 preferred 100 C8 CS G7 Distillers' Securlfs 2,200 24 21 23 General Elcctrjc .. 2X 16L 1C1 100 Intern'l Paper 11 preferred .... ...j (5 Intern'l Pump 33 preferred 71 National Lead 15 North American 81 Pac Mall 200 20 20 20 People's Gas 200 97 97 07 Pressed Steel Car 23 preferred ,. C3 Pullman Pal Car 210 Republic Steel 100 7 7 7 preferred 300 42 42 41 Rubber Goods 18 preferred 73 Tenn C & Iron 200 35 35 35 U S Leather 100 7 7 7 preferred 200 78 77 77 V S Realty 7 preferred 50 U S Rubbor 100 12 12 ll preferred 100 48 48 4S U S Steel 3.200 11 11 10 preferred 10,800 50 55 65 Wcstlnghouse Elec 157 Western Union 87 Nor Securities S7 Total sales for th day, 137,400 shares. Treasury Statement. WASHINGTON. March C Today'a statement of the treasury balances In the general fund, cxcluslvo of tho $160,000,000 gold resorvo In tho division of redemption, redemp-tion, shows: Available cash balance, tZX,-1S1.7S9; tZX,-1S1.7S9; gold, $107,614,768. Bank Statement. NEW YORK, March C. The statement of averages of tho clearing-house banks of this city for tho week shows: Increaso. Loans J 999.91S.400 $ 9.703.200 Deposits 1,040,533,800 12,673,40) Circulation 29,1C9,6M 1.049.9W Legal tend era 70,839,400 879.200 Spcclo 219,152,400 1,840,700 Reserve 290.091.800 901,500 Reserve required .... 200,118.450 3.1CS.350 Surplus 29.O13.S50 2,200,850 Ex. U. S. deposits... 9,727,050 2,113,025 Decrease. Silver and Drafts. SAN FRANCISCO, March S.-Sllver bars, 57c: Mexican dollars nominal; drafts, sight, lCc, draftB, telegraph, 17c Money and Exchange. NEW YORK, March C Money on call nominal; no loans. Time loan3 steady; for sixty days, 3 per cent; for ninety days, 3 per cent; for six months, 3tf?4 per cent. Prime mercantile paper, 4'Q,5 per cent Sterling exchange oteady, with actual business In bankers' bills at 4.Sfl.GS4.S0.70 for demand, and at $4.S3.S05,1,83.S5 for sixty-day bills. Posted rates, $-l-81M.87. Commercial bills. $4. 834. S3 . Bar silver. 67 cents. Mexican dollars, 45 conta. Bonds Governments Irregular; .railroad .rail-road bonds heavy. Iivo Stock. CHICAGO. CHICAGO. March S.-Cattlc-Recclpts. 000; nominal. Good to prime steers, $5.00 (35.75; poor to medium. 53.5031.60; ntock-ers ntock-ers and feeders, $2.504.25; cows. $1.C0S 4.00; heifers. S2.00t?4.50: canncrs. $1.602.50; bulls, J2.00yi.00: calves, $3.000.50; Texas fed Htccrs, J4.0OS4.75. Hogs Receipts today. 7000; Monday, 30,-00; 30,-00; market steady, to hither. 'Mixed aad butchers. 55.1055.4G; good to choice heavy. tS.405'5.65; rough heavy, to.155.40; light, 51 5OSG.20; bulk of sales, Jo.10S6.40. Sheep Receipts, 2030; sheep and lambs' stcadv: good to choice wethers. 34.25flM.75; fair to choice mixed. ?3 50ff4.25; Weatern sheep, 54.C0QG.75; native lambs, f2.75gC.25; Western lambs, $4.75Stf.OO. Offioial receipts yesterday Cattlo, 286; hogs. 13,232; shcop, 90OL Shipments Cattle, Cat-tle, 45G2; hogs, 7901; Bheep, 4GS5. ST. JOSEPH. ST. JOSEPH, March 6. Cattle Receipts, Re-ceipts, 45; unchanged. Hog3 Receipts, 2000; 5c higher. Light, ?i.005,15; medium and heavy, ?5J2g55. Sheop Receipts, 800; steady. OMAHA. SOUTH OMAHA, March C. Cattle Recoipts, 200; markot nominally steady. Native steers, $3.2C5.00; cows and heifers, heif-ers, $2.7033.70; canners. J1.7GG2.G0; otock-cra otock-cra and feeders, $2.00-1.15: calves, 52.50 5.50; bullfi. stags, etc., S2.25fl3.59. Hogs Receipts. 4000; steady. Heavy. $S.15fl6.C0; mixed. JS.10flo.15; light, ?4 So 5.10; pigs, J3.75fl"4.7u; bulk of sales, $5.WS 5.15. Sheep Receipts, 200: steady. Westerns. $4.50fl5.15; wethers, ?3.90fl,4.G0; ewes. J3.251? 4.25; common and stockcrs, $2.75fll.75; lambs, J5.OOIjO.00. KANSAS CITY. KANSAS CITY. March C. Cattle Receipts Re-ceipts 200; markot unchanged; natlvo steors. $4.0030.30; natlvo cows and heifers. J2 00S4.25; stockcrs and feeders. $3.004.15; bulls, f2.6003.60: calves, $3.00fl0.2G; Western West-ern steers, JS.oOfl'l.CO: Western cows, J2.00 3.50. Hogs Receipts, 2000; market 5 conts higher; bulk of sales, J5.00flC.30; heavy, J5.25fl5.40; packers, 55.10fl6.30; plg8 and lights $4.25fl6.10. Sheep Receipts, 200: steady. Muttons, J3.S0fl-j.20; lambs, J3.00flG.Go; rango wethers, weth-ers, $-1,255-4.00; owes, J3.80fl4.25. Grain and Provisions. CHICAGO, March 5. An interruption of tho long, 3tcady drought in Knnsas and Oklahoma caused wheat to weaken today, tho May delivery closing c off. July is down Ufl'Jic. May corn closed with a gain of fl"c Oatfl were unchanged. Provisions aro up 15 to 25c. A reflox effect of the Ohio crop report 7tts keenly felt at the opening In wheat, an advanco at Liverpool being largely credited to tho Ohio roport. The pit crowd was quite bullish and bought freely. free-ly. Tho general demand caused an Initial advanco In May of o to lc, opening quotations being OTftc lo OSc July was c to c higher at 02r. to 92c. A cablegram from OdcHsa predicting n curtailment of crops owing to a reduction reduc-tion In acrcago duo to tho war "was an other sourco of strength. Tho pVlncipal trading was In tho July option, commission commis-sion house3 having considerable buying orders for that delivery. Somo of tho long3 in May took profits early In tho day and caused a decline to 97c, but tho shorts were actlvo buyers nnd tho prlco quickly rallied to 9Sc. July sold up to 93-a Additional realizing occurred on tho advance, and when rain was reported In Kansas nnd other sections of the winter win-ter wheat belt tho selling became quite brisk. The market was poorly supported and a weak tone developed. May dcclned to 0Cc, whllo July dropped to Olv&c. Tho market failed to recover from this setback, set-back, the close being weak and noar tho bottom, with May at 9Gc July closed at 92fl02c. Clearances of wheat and four were equal to 159.200 bushels. Primary receipts re-ceipts were 545,200 bushels, against 413.C0O bushels a year ago. Minneapolis, Duluth and Chicago reportod receipts of 311 cars, compared with 321 cars last week and 313 airs a year ago. Strength In -wheat and no actlvo demand from a prominent provision lntercot causod a llrm corn market early In tho day. Tho markot closed steady, with all tho advance lost. Tho opening on May was unchanged to o higher at 53c to 63c. On the early bulge the price rose to 541.4fl,541c but later droppwl badk to 63c The close was at 53fl53?ic July ranged between ClSJjGlic onci 62ic, dosing dos-ing Uc- lower at C2c Local rocolpts were 209 enrs. ono of contract grade. Early In tho session an Impression prevailed pre-vailed among traders in tho oats pit that the big long in May was accumulating a lino of July. After opening hie to c higher at 41c to 4Hjc, May ranged between be-tween 41c nnd 4194c, closing at 4iytc. July sold between 29c and 40c, and closed at a net loss of He at tho low point. Local Lo-cal receipts were 272 cars, A small run of hogs, with hlghor prices at tho yards, gavo provlslono a strong ntart, and tho early strength .was well maintained throughout tho day. Thoro waa a big gcnoral trado and comparatively compara-tively few products on the market. Tho best buying was by commission houses. Selling by packers caused a partial loss of tho advance, but tho close wa3 llrm. Final figures on May pork wero up 25c at S14 17; May lard closed 15c higher at ?7.40, and ribs wero 20c higher at $7.27. Estimated receipts for Monday Wheat, 25 cars; corn, 105 cars; oats, 270 cars; hogs, 9,000 head. RANGE OF THE LEADING FUTURES. Open. High. Low. Close. Wheat, No. 2 May S3 0SH 90 ftfft July (old) 93 04 OS 93 July (new) 93 91 02 Sept (old) S3 SSi 87i S7. Sept (new) S7 S7 8C SOU Oats, No. 2 May D3?l 54U 53 53 July 52 52i 51 G2 September 51i 'Gift, 50 Oats No. 2 May 41 41?i 41,i 4114 July 91 40 30 39 September 34 21H 34 34 Mesa Pork, per bbl. May 14.05 14.20 13.95 11.17 July 14.22 14.32 11.10 14.32 Lard, per 100 pounds-May pounds-May 7.33 7.40 7.30 7.40 July 7.50 7.67 7.45 7.55 Short Rlhs, per 100 pounds-May pounds-May 7.20 7.32 7.12 7.27 July 7.30 7.42 7.27 7.37 CASH QUOTATIONS. Cash quotations were as follows: Flour, steady; winter patents. J5.00fl5.10; straights. $4.70flM.90; spring patents. $4.G0fli 5.00. straights, S4.20flM.50; bakers'. J3.30S) f3.S0; No. 3 sprins: wheal, S5flT97c; No. 2 red, 91cfl-$1.00; No. 2 corn, EO'tfc; No. 2 yol-low. yol-low. 61ic; No. 2 oats, 40VLc; No. 3 white, 80flM2c; No. 2 rc, 72c. good feeding barley, SSflMlc; fair to choice malting, 45&1 55c; No. 1 flax seed, J1.0S; No. 1 Northwestern, North-western, $1.14; prlmo timothy seed. $3.05; mess pork, per barrel, $11.12flll.25; lard, per 100 pounds. $7-15fl7.25; short ribs sides (looso), $7.00fl7.25; short clear sides (boxed), $7.i7fl7.50; whisky, basis of high wines, 51. 2S; clover, contract grade, $11.C5. RECEIPTS A2ID SHIPMENTS. Receipts. Shlp'ts. Flour, barrols 3S5.700 30,200 Wheat, bushels 45,900 49,000 Corn, bushels 174.000 S1.300 Oats, bushels 200,000 99,700 Rye. bushels 12.100 3.0CO Barley, bushels 05,300 28,700 PRODUCE EXCHANGE. On tho produco exchange today tho butter but-ter market was weak; creameries, 14fl24c; dairies, 14fl22c; eggs, steady, at mark (cases Included), l718o; cheese, steady, 10flllc ITew York Cotton. NEW YORK, March G The cotton markot opened steady at a dcclino of G points to an advnnco of 1 point. Tho market was rallied by a renewal of bull support, advancing to a lovel about 4flD points over yesterday's close, after which It ruled rather Irregular and with trading trad-ing quiet. St. Louis "Wool. ST. LOUIS. March 8. Wool Steady. Medium grades, combing and clothing. 17 fl21c; light fine. 15fll7c; heavy line, 12fl llc; tub washed, 20ff31c. Butter, Egg-s and Sugar. NEW YORK. March 5. Butter Steady; creamery, lGfl25c; State dairy, 14fl2lo. Eggs, steady; Western firsts, 21c Sugar Raw, steady; fair refining, 3 7-16c; centrifugal, 90-test. 2 15-10c; molasses sugar, 2 11-lCc Refined is llrm; crushed, $5.20; powdered, $4.60; granulated, $100. |