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Show UOIIA OF CASH fH i BUSINESS i Virtually No Demand for tho EHoney Lying in New York's K Treasure Vaults. iRsiNESS SINKS TO LOW LEVEL FOR SEVEN YEARS iMfi Fiscal Year Opens With JlJff Market in State of Pro-found Pro-found Apathy. iSpffiW YORK, July 1- The new fiscal -9L.r opened In tho financial district In a i3 indltfan of profound apathy, bo far as ) is reflected In the securities market. ' Inks and trust oompanies had some oc-J oc-J matlon In the paying of interest on 1 jnds, and there were other seasonable IJJ ftnev obllsratlons to bo mot, including Jfl, msnt of a 511.625,000 installment of i Ascriptions for new Northern Pacific Ii iocks. Trust companies are compelled ! ndcr the law to fix their reserves today jo per cent of deposits, and tho condi-iTi condi-iTi ton of reserves of those companies shown r their last report would indicate that ' aey must have withdrawn from tho J jnks la tho neighborhood of $25,000,000 ; mneet this requirement. I J financial community ia in hourly itlon of a call from tho trcnEiiry nent for retuni of perhaps $50.-of $50.-of government doposllB. The July 1 and Intorest disbursements In ork are estimated In the neiprhbor-l neiprhbor-l SISO.OOO.OOO, yet so heavy Is the of funds In tho money market and ile the demand for facilities from pra that these extraordinary re-ents re-ents have done nothing: more than the call money rate temporarily to :ent. 'compared with li to 11 per iore prevailing-. Iscal year opens with large supplies Is pressing- for employment in tho oney markot. where loans carrying; ie year-end today fell to u 3J per ito. Notwithstanding these ple-Donditlons ple-Donditlons of money, the bond and narket was lethargic and wholly ent to any developments in the Money rates are now lower than period since the summer of 1904, 3 record must 50 back four years for any parallel for the low level rlty In stocks today. Tho apgrc-les apgrc-les for tho day amounted to only shares. On August 22, 1000, there Did 86,000 sharee. It Is of course mt that these comparisons carry years of previous national political jns. The pendency of tho political 1 muEl. In all probability, be given nclpal responsibility for the pres-noblllty pres-noblllty of the markets. ad reports of net earnings for May i the drastic efforts to ovcrcomo es In gros3 earnings by cutting ex-1 ex-1 wero Irregular, d States Steel sinking" 5s were Total sales, par value. $2,340,000. J States 2s registered advanced t t on call. New York Bonds, if 2s reg.104 L & N uni -is.. 96q' ' uupon ..104 ilan c gold 4s.. fits 1 rcg ..,.100 aiex Cen -is..., 84 mpon ...If" do lat Inc.. It reg 121 M & St Jj 4s ... 792 mpon .... 1 221 M-K & T 4s.... OfiJ J 43 72Ji do 2nds 83! : 1053 'NIIR of Mx c 4s 82 en 4s.... D7J "NYC gen 3s... 91 ij 4s ... 90 NJC gen 5S....1 4s 90J ?or Pac 4s 101? 6s 100 o 3s 71 -Inc 4s. .91 N & "V con 43. 948 4s OSilOSL, rfdg 4s... 891 3a ..... 92i,Penn cv 3js 1915 92 C cv 4s . 71 do consol 4s..l01B Ga Ba. .104J! "Read g 4s 97 t Inc ... 71 Rep of Cuba 5s. 103 d Inc ... 45i StL IM c Ss.lOGo d Inc 30 'SlL, & SF fg 4s 63 lis 101 StL Swn c 4s. fi6 3s 06 S Air Line 4s.. 55 Q n 4s . 9Bi So Pac 4s SG : P 43... G3 do 1st 4s ... 90 Pool 5s.. GG So Ry us . ... 97 PRy rf 4s S4; T Ez Pac lsts..l07 StL g 4s 95 TStL, & W 4s.. 70 d 5s.. .. 63 'Union Pac -le.ion-IId 4s... Gl -do cv 4b 89J So 4s 90 U S Steel 2d os 97 lud c-4b S7 Wabash lsts ,.101i 1 G 4s. SO West Md 4? 70 r Hen 4s. 80 W LE 4s.... Gfli n is 64 Wls Ccn 4s... 84 ey 4ss...iniJ KYXH & II cv let 4is... 669 Ga ctfs 126i is .. t?9i -Ex-interest, s 2nd scr SSI New York Money. YORK. July 1. Close. Prime Ule paper, 3l4 per cent. Ster-yianjte. Ster-yianjte. steady, with actual busl-bankers busl-bankers bills at S4.RG.45 for de-nd de-nd at ?J.S5.G5'!7)4.S5.7o for fixty Commercial hllla. $4.854.S5g. an dollars, 4Gc. nmcnt bonds, flnn; railroads, Ir-V Ir-V on call, easy. lifiDlJ per cent: rote, li per cent; closing bid, 1. flt 1J per cent. loanE, quiet and easier: sixty !2 per cent; ninety days, '' per x months, par cent. Condition of Cotton. 'ttNGTON'. July 1. Tho average in of the cotton crop In tho United lunc 2Gth wes 81,2 of a normal, as :d with 7D.7 on May 25th last; 72 s 25th a year ago; 83.3 on June 105. and 81.8 the average of the ndltlon for the last ten years. This e announcement made today by P reporting board of the bureau sMcs of the Department of Agrl-oancd Agrl-oancd upon reports of the corro-ita corro-ita and agents of tho bureau. |