| Show WALL STREET securities ON THE DECLINE the reactionary tendency became rather meagre in the eastern stock market new york july 9 the reactionary tendency became rather meagre in stock market although there was some show of resistance to the decline and efforts to support were at some points the principal ground tor the reaction was the banking pos which the cause for same anal ety based upon the public accounting banks themselves although the rates charged for money today showed no symptoms of a coming stringency in ew of tho special requirements impending of the money market looks back tor explanation po tho estimates of tho known movements of money last week which indicated a gain by the banks by six to ight millions of dollars although the bank statements reported a decrease in cash of five millions this discrepancy in the statement was the main cause of the low surplus which was stated at below it this had been the actual condition of new yorks banking surplus on saturday it was difficult to explain how the withdrawal of gold tor export and the obligation to be faced of a return of government deposits row amounts to for the whole country and about for tire new york city banks could fall to precipitate a disturbance in the local money market the new york banks turned about of the of government deposits which it Is required to surrender on the other hand only of government four per cent bonds have been presented at alie new york since july 1 the seemingly total indifference to the apparent laev bitable results of a money flurry under the circumstances gave rise to conjectures jec tures that some relieving influence not generally known was in the back ground the maturity tomorrow of installments stall ments of subscriptions amounting to for atchason Atch lson convertible bonds are complicating factors in the situation july 10 Is thus seen to bo to some extent a critical period in the money market and its passage without disturbance will bo felt as presenting a clear field beyond foreign rates declined during the day and the chance of further exports of gold was moved deports of various new phases of government activity against corporations were an adverse influence to attempts to advance prices including federal governments plan to apply for receivers tor offending corporations a judicial expression of the view that the new york traction control represented a and proceedings against the telegraph companies on charges of combination by the new york state officers st paul offered the only of active resistance to the decline efforts at support centers ing on that stock which closed at a gain of over a point otherwise declines are general union pacific being most bunds were total sales par value U S bonds were unchanged on call |
