Show I c FINANCIAL and andi i COMMERCIAL I i WALL STREET I BY THOMAS IA SHOTWELL New Tork Vork ork NOV Nov J 2 Movement of or s In Wall nl et t today loday wore were of or no Im tin because there ther was really realy no market for tor anything the few ow transactions transactions trans trans- actions p performed being being purely for for- mal The Tho big thing of ot the day was wasI I n b bonk statement which for tor the time time in many years yearn U us not nol published until the tho close of or the time market When It was published the tho startling figures le led to public cl clamor mor to the effect that It w was s wi withheld th hel through fear of Its Is effect on the market Loans showed an increase of ot 60 In the statement There was wu wasa a r cash loss los of or 30 and an InI in increase increase In- In crease in 10 deposits of ot only And yet tie fie surplus reserve showed ho tt sho I a Q decrease of ot 3 The percentage per per- of ot r reserve seT e is now 13 This c corn nv ares Ith ih 20 21 f p pr r cent cont In which Is th the only instance when It was wal worse I While the tue Increase In loans represents rents of ot course a large volume o of accounts shifted from trust companies to ks thero Is no satisfactory ex explanation ex- ex plana Ion for Cor the remarkable state state- merit ment ment An attempt wa W 3 made to explain cx- cx plain It I by the tile clearing house certificates cates cater issued to itself Iselt and added those oh hand from Com other banks While this would cause violent t changes In the tho In Individual n- n banks the general result result should b be i to eliminate the loan oan certificates certificates cates entirely as a factor In the general average of or all al tho the banks bonks In order to cover up th th Identity of ot the banks using clearing house certificates Individual Indi vidual reports were cre withheld from publication Voluntary The bank statement never does re- re nort the tru true condition of oC the banks because It Is an art average statement No law requires its Is publication and in inthe tho the past its Is chief chic use has hiS been to enable enable enable ena ena- ble speculative cliques 6 who have havo been in charge e of the banks to manipulate the stock market Conservative persons persons persons per per- sons In Wall Wail nl street favor tavor a law prohibiting pro pro- publication of the bank statement statement statement state state- ment as now issued but compelling the tile publication each morning of oC n a statement state tate ment mont sho ln showing the exact condition of oC the banks and and of ot r each ach individual bank up to the tho close cose of or business the night before It I is probable that a n law of this kind will wi be passed by congress at nt the coming sessIo Public I IN TM Alarmed The he rt result of ot toca- toca t bank ank statement was to alarm the public Whether hether this alarm Is Justified the public has hns no means of or knowing but on general principles Intelligent ent alarm Is less In Injurious Injurious injurious In- In jurious than the other kind A grave grave mistake has been een made rondo by the clearing clear hag ing ing house and the only way to correct It is to issue Immediately a a true statement statement statement state state- ment of oC the condition o of the banks up to the moment of issue issue CluID Closing Prices James A. A Pollock Si Co bankers and brokers 6 5 West cst Se Second ond South street street furn furnish Ish tho the following received over their private wire yesterday esterday afternoon afternoon after after- aCer aCer- noon Am C Fd corn J 25 25 1200 m Am Smelt corn eom 67 6 Ama Am Loc Loc com coin 37 37 37 Am A Sugar corn com 1 Am Wool com H Amal Copper 49 18 Anaconda Cop 33 33 2000 Atchison corn com 73 BaIt and ant 0 corn com SO 80 00 Brook Rap Rp Tr Tr 3 30 81 2100 Can Cn 1453 19 1499 Cites Ches and and Ohio 28 82 28 C M and St PauL Poul 99 JOO Cob Colo F and Iron Iron 16 I 15 15 Erie Eric common lS IH GO Illinois Central 1211 1201 1203 1201 CAts GOU Louis and Nash 95 93 9 93 SOP SOO Mex Me Central 14 14 IH 14 Missouri Pac 5 52 62 Mo Io K and nd T corn com 2 24 4 New J York Cent aG 96 91 a N Y Ont nn and W. W W. W 29 2 29 29 Nor and West 15 65 65 00 Nor Pacific 1053 1069 1093 IOn 1078 1081 Peoples People's Gas GaN 73 73 Reading fealing corn com 7 75 7 il 72 O Rock Isi corn com 13 13 1200 Rep I and corn com 13 13 13 So 50 1 fly common 12 So Pac corn com 67 67 66 66 2400 Union Pac corn com IOn 1073 U S Steel corn com Preferred 83 S SJ I Utah Copper iSi 1 is 18 is 18 Tennessee Uth Cop 23 3 79 i 73 n 73 J. J 1100 5 4 4 To Total t I sales shares |