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Show I t Trading Is Light, Narrow and ; Professional, but the Tone I Is Finn. f FINANCIAL SITUATION L REMAINS UNSETTLED C$ Big Banks of New York Hang-;. Hang-;. ing On to Cash With Much ! v Tenacity. NEW YORK, Aug. 29. The ground work for the rise In prices of stocks today to-day was laid lnsst week In tho overselling over-selling by a group of professional operators, oper-ators, prompted by tho .falsa -alarm of frost damage to t lie corn crop. Advices over Sunday of favnraUlc weather for corn quieted apprehension and revived confidence. Sales of cotton on the New York cotton exchango for August delivery deliv-ery at 20 cents a pound were treated ns merely a sensational market episode. . due to the Imperative requirement of an uncovered short Interest. The crossing K of the record price made In the Sully M' corner and the making of a new high ffi' . record since the civil war wore a. de-m- vclopment. of successful manipulation and &: : skillful markot maneuvering with very f- little hearing on the problem of crop ' yield or Intrinsic. value - Tho rapid movement of grain to inar- ff ket curries with it the corollary of need Sr- for currency to effect this movement. ft The demand on the Interior banks at . tho reserve centers for this purpose is V 'Jn said to bo largo- and Is reflected from M9 them on the New York banks Shlp-4 Shlp-4 k incnts of currency to the Interior and to t fi Canada from hero continue actively by i ! M, express and there were deposits al the 1 1 jft" sub-treasury today for transfer to Now 9E; These forces of depletion of bank ro- lw serves may have accounted for a slightly 96 firmer tone of call loans today, the rate V opening at li per cent and rising to 23 ifHflf per rent. A llrmer lone characterl7.ed the money Hfe markets in London and Berlin. 'r'ic 'enncity with which three or four 14 of the largest New York brinks are hold- Kk ins to excessive surplus reserves In face m Hr of the high rales and meager demand for ft Bl commercial paper is the occasion of some mm": uneasy discussion as a possible Indlca- Hrc tlon of expi-cted unfavorable develop- Bnv meats of some kind. U ms. The demand for stocks today seemed i MM' t0 H? professional. Of the day's nggro- . . '" gate sales of r?:i",700 shares United uBc. States Steel. Reading and Union Pacific W mSti- mndo up 2iV',non shares. lijHu Bonds were firm. Total sales, par luH&.. value. $715,000. United Slates -Is ad- iJjiHp " vanced i per cent on call. New York Bonds, i&flt " ' U S ref 2s rcg . . 101 Int .Met lis . 7Sg J&KK do 2s coup ...101 Int Merc M lis 01 'Jill' do 3s rcg ...1013 .Japan -Is SSJ Smm d 3s coup ...1012 do lis 9-W !Mr do Is reg . .115i K C S 1st 3s . . . 72i iSBU' do is coup ...liri L S deb Is 1031 03 AIUk-C 1st 5s . . . Vfi L Sc X I'n -is . . 078 mmk Am Agrl Hs ...101 Mo K & T 1 Is. 074 mimW AT&T cv Is.lOOi do gen lis ... S5 H Am Tob Is TSs Mo Pau Is "Si BHtt do lis 10o3iX Rys Mex lis "Si BH Ar & Co lis 01 1 X Y O gen :iis.. SS BM. Atch gen Is ... OSSi do deb Is K fllr do cv Is ....lOniiNYNH&TIcvfis .K121 WNmmX' flo cv Bs 011 N Sz V 1 com Is 073 wHi Al C Li 1st Is .. 0S!J do cv Is 0SJ iililT, B Si O Is 0S3;Xor Pac Is 100i lfHJ do r.Js 02 I do 3s 71 1K do S W .Us . . SOS O S L rfdg 4s . 02a SIHk Brook Tr cv Is SIjPenn cv ajs 1915 OoE Htlaar Cent of Ga i"s . .10n Ponn con Is ..102 flJIHr, Cent Ij 5s OSj! RpiicI gen Is ... 08 'VmW? CRRofXJgenos 1213 ' SlL&SPfg-ls ...SO 'alRg Chcsa & O lis .1004' do gon Ss Sdl do ref 5s 02 jSt 1. S W con Is 73 C & A 3Js ii0 do 1 gold Is . SOI CBH jt Is ., P5i Son Air Lino -Is G02 IBP do gen is .... 08 S P col Is .... S01 imtmVk CM&SPgen3is . 01 Jl do cv Is 873 '"IWv CRI&PRRcolls 723,SPRRlstrcns .. 032 JMlA CRl&PRyrfgls . SO So Ry Bs HC. ilMr ' Col Ind T.s 71 do gen -Is 7Ui ,mm Col Mid 4s US U P 4s 1002 C&Sref.r.-ex4is . 0B 5 1 do cv Is 10B -flb Del & Hud cv Is 0C3' do 1 and ref -Is 053 D & R G Is ... 03 T S Rub fis 102 MB do rof Bs .... OH IT S S 2nd Bs ...103J UK Distillers Bs CS3 Vn. Car C Bs . 001 Pi" lion is .. S2iVabash 1st Bs 107t '-vK do gen Is "0 1 do 1 and ex Is C32 .cM do cv 1 ser A fiSJ West Md Is S33 lm do cv 4 aer 13 tiSjiWeet Blto cv Bs RSi eWl Gen lilcc cv 5s..l3C lYis Cent Is .. 02 -jBh! 1" Cent 1 ref Is 00 I Mo Pac cv Bs .. 02 -H New York Flour and Grain. UBS NEW YORK. Aug. 20. Flour was ittHKtt Bteady and unchanged. Receipts, 25.050 IIUV barrels; shipments. 7173 barrels. i'5Bk Wh"al Spot. Irregular; Xo. 2 red. $1.07 ..JinmV elevator and 51. OSJ f. o. b. alloat; Xo. 1 '. tW' new northern Duluth. $1 223 f- o. b. to ar- jfWmT:- rive. Future trading was quiet in tho &wV wheal, market all day and after a moder- 'rf9Mt' atc advance earlier on cables, values '"B eased off on the largo Increase in the -jW- visible and poor export demand, closing c not lower. September closed S1.07i, --k December. 51 11; May. S1.1BJ Receipts. gmf' 700 bushels. |
