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Show LOiON HOLIDAY USnS EFFECT New York Market Quiet at Close With Tendency Toward Weakness. BY RALPH EMERSON. By Leased WIro to Tho Tribune. NEW YORK. July 30. Today was a holiday in London and there was no session ses-sion of tho London market, consequently the New York stock market opened without with-out the impetus of accumnlated buying orders from abroad. Tho opening was heavy and many stocks were slightly off. from Friday's close. Atchison led in tho initial decline, de-cline, going down S of a point in the first few minutes.. Tho Harriman stocks also opened with a sagging tendency. Commission Com-mission houses said they had few com-mlssolns com-mlssolns for execution. The market, therefore, becamo narrow rather than weak. There were little buying and very little disposition to cover by shorts. North American Car and Foundry was decidedly heavy, losing a point In the early trad-ng. trad-ng. Thore was but little trading in Amalgamated Amal-gamated Copper and tho stock ended the short session a point lower. There was a great deal of rcnllzlng In the last half hour. In fact, tho market closed quiet but the brokers are sanguine for next week. There was no .'ipparent cause for the reaction today except the natural dullness duo to tho narrow professional pro-fessional trading. Sales were 235,247 shares. The bond market was quleL Call money ruled at 2 per cent. The foreign exchange market was easier. Sterling declined 10 points. Bar silver in London was unchanged. Clearing Houso Statement. By Associated Press, NEW YORK? July 30. The statement of clearing house banks for the week shows that the banks hold $18,511,925 more than the requirements of the 25 per cent, reserve rule. This Is an Increase of $S,19S,500 In the proportionate cash reserve re-serve as compared with last week. The statement follows: Increase. Loans $1,191,400,200 $ 8,940,700 Doposlts 1,207,882,700 22.877,600 Circulation 4S.446.500 . 120,300 Legal tenders ... 72.S65.700 2,318,700 Speclo 277.610,900 11,529.200 Reserve 350.482,600 13,917,900 Reserve required 301.970.675 5,719,400 Surplus 48,511,925 v 8.19S.500 Ex-U. S. deposits . 4S.921.62o 8,193,475 Decrease. The percentage of actual reserve of the clearing house banks today was 28.92. The statement of banks and trust companies com-panies at Greater New York not reporting report-ing to the clearing house shows: Decrease. Loans $1,114,491,200 $21,104,100 Speclo 122.160.SOO 1,392,200 Legal tenders ... 21,786,500 200,700 Total deposits .. 1.22S.459.S00 4,344,300 The Financier will say; While the nssoclated banks of New York City made a further large gain In cash last week, the statement on Saturday Satur-day reporting the amount to have been $S,457,900, the actual surplus roso only $1,207,300 owing to the heavy expansion of $29,002,400 In doposlts. This counteracted counter-acted tho effect of tho cash gain. The Increase in deposits was due for the most part to a rise of $20,35S,900 In loans. An explanation of tho unexpected loan expansion is probably to be found in the stock exchange incident, which Involved tho taking over by a new syndicate of the extensive holdings of the crowd of speculators who had been trying unsuccessfully unsuc-cessfully to buy control of a number of woll-known railroad lines. In this connection, however, it Is Interesting to note that tho loans of the trust companies compa-nies and state banks fell during the week $21,104,100, which corresponds almost exactly ex-actly with the Increase reported in the cash of the clearing house banks. The trust company contractions was no Tloubt responsible In part for the rise In loans of the clearing houso banks. Tho outside Institutions also reported a decrease de-crease of about $1,500,000 In cash nnd a decrease of $21,750,000 In net deposits. Still, even with the demands made upon them, the banks closed the week stronger than before, the present surplus above the 25 per cent legal reserve standing at $17,226,900. In view of this showing. It need hardly bo added. Friday's organization or-ganization of a national currency association as-sociation by the New York national banks was purely a formal and perfunctory perfunc-tory proceeding. New York Money. By Associated Press. NEW YORK, July 30. Close: Prime mercantile paper, 51 to 6 per cent. Sterling exchange easy with actual business In bankers' bills at $i.S3.25(fi) 4.S3.30 for sixty day bills and at $i.S5.1o tfp4.S5.20 for demand. Commercial bills, $4.S2i4.S3. Bar silver, 531c. Mexican dollars. 44c. Government bonds, steady; railroad bonds, lrrogulnr. Money on call nominal. Time loans, ousler 00 days, 33 per cent and 90 days. 4. Six months, 5 per cent. Dairy Produce. By Associated Press. CHICAGO. July 30. Cheeso. steady; daisies. lSltfMSGc; Twins, 143(pl5c, young Americas, 15ig151c. long horns, 153c. |