Show MARKIS MARKETS HA HAVE Vf QUIET Un Wf Bears Start Star Weeding Process NEW YORK Feb Fel 20 O By the Associated Associated Press Pres Iress Price movements In the the- weel weeks week's s 's stock market markot were Irregular and Inconclusive In seeming harmony with wih the thc tradition that February February i Is an off ott month In the tho securities marl markets ts Several developments outside the market marlet ho how how- ver vr attracted considerable c Interest nO notAbly bly the declining trend of commod commod- ity ty prices the continued s of ot call cal money ate i-ate intes the tha recurrent weakness of ot J francs which carried them thEm down to within about 14 of a cent of ot the ex ox- ox record low of ot cents cens in 1924 and the largo large Influx of ot new bond offerings offering which ran close to th tile tho highest of ol any cose single week In over oer a a year ear Bear Dear traders trader started a weeding out nut process roc In n tho tock stock market and succeeded suc suc- In forcing a sharp downward re readjustment ro- ro adjustment In the quoted values of ot several sev sev- eral ral Industrials Industrial particularly in a n number of or new v and unseasoned shares share which had been pushed up to levels apparently un unwarranted unwarranted unwarranted un- un warranted by their asset Iset value alue and earnIng earn earn- ing lag power On the other hand bullish were n successfully staged In American Can General Electric and anda a number numbe of ot Industrials and specialties some of ot which are ars known to harbor a large short Interest Weakness of ol French francs reU reflected tho iho budget and tax difficulties of the tle Briand government French French government and municipal liens Hens however received good gao I support A sharp advance In Jap- Jap o yen en Cn which carried them to the highest price In three years earR an and In the currencies reflected the ef efforts et- et forts of ot tho those e governments to In bring their ex es exi nl s nearer dollar dolar parity Cotton COHon and anc wheat hEat tailed failed to lo break out ut t of the trading eras within whirls which they hv hn been fluctuating for some time and consumption reports report are being closely eJ watched Indications of ot ofa ota a a. a definite price trend y J HANK STATEMENT IE i NEW E YORK Feb leb 20 20 AP The AP-The The actual condition of ot clearing house houe banks b-anke and trust companies for tor the oel week chow hoss' IhO excess r reserve erve of This 0 I Inn Is Isan isan an nn Increase In 11 n. n reserve of ot compared compared with la last t week when excess reserve totaled I In depo depositaries slate late banks bank and trust companies de- de ce- ce cl c P. CIE x x- x Net s-Net Net tt demand deposits deposit rn Increase Ines pe Time Tim deposits decrease o Circulation lon increase X U. x-U. U. U S. S deposits deducted Aggregate reserve Excess reserve increase Summary of ot state banks ank and tru trust t companies In Greater Greter New Y Tol ork rk not In Included In- In 0 Lon Loans el discounts discount Ole etc etc decrease n 1400 Gold e Currency and l 00 decrease lepre c. c Deposits with wills federal eril re rn bank of ot v York increase Im 55 Total oJ deposits 0 1 0 decrease Eliminating amounts amount due from reserve depositaries and from from- other banks and trust companies In New ew Yolk und and end the tile States State deposits dere e Banks Danks Cash in vault vaul Trust t companies Cash in I vault 74 The st statement follows Loans discounts etc etc In 9 Ca ash ti In own vaults it members o Jw i bank S 4 decrease derese Reserve In federal feral reserve bank of ot miser r hanks Increase S 3 I In vaults own onri own lull state banks H n nd trust tr 11 companies d decrease r ase 3 |