The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-05-16
BRADsrREET's REVIEW OF TRADE.
stock Market Shows Tnbroken Conf
dence, Despite Heavy Gold Export.

NEW YORK, May 15.-(special. l. Bradstrec's 8
VIII say tomorrow: Speculation during the
week has been influenced principally by the IN
favorable condition of financial affairs in En-
rope and by the heavy gold shipments, s., ooo,
which have taken place. These transactions,
coupled with natural fears that the
money market would be affected
by the continuance of such proceedings,
created bearish tone and action, which re-
suited earlier in the week in further depression
OF prices, but though the latter part of the week
was characterized by a continuance OF disturb
Ing influences OF this nature the stock market
displayed remarkable power OF resistance and q
degree of support which could only pro-
coed from conviction on the part of
holders of stocks and heavy operators that the
conditions in this country are adverse to de-
elining values in the stock market Selling of
shares IN this market was mainly for foreign ac-
count and was apparently supplemented by
activity of traders on the short side of the mar
ket At the close OF the week the market was
uncertain and feverish, but speculation on the
whole showed an encouraging disposition. 1t
was currently reported that the gold interest
had extended support and that the bloyancy
shown on Thursday in the face of renewed
engagements OF gold was attributable to this
cause. Friday, however, the market was affected
by renewal of disturbing rumors from Europe
and by heavy gold engagements. This caused a
decline and left the market at the close in an
unsteady condition. Interest in the market
cenfered mainly in ST. Paul, which sold
down TO eli, but rallied up TO 63s I,
trading in the stock being OF the heaviest de-
scription. Similar manifestations and core
spending rallies in Burlington. Rock Island
and other members of the Granger group also
took place. Gold stocks attracted attention
from the ease with which they sold down in the
early part OF the week and the strength they
displayed later on. Trunk line, anthracite and
southern stocks merely followed the course OF
the general market.
Manufacturers have bought more freely of
choice woois than during the preceding week.
safes OF Australian woods have been much
larger. Dealers and manufacturers are more
interested at present in the prices paid for new
clip than in the values ruling in Eastern mar
kets. The slow movement of woolen goods
Is forcing manufacturers to delay TAX
ing stock 1t is thought by some
dealers that the high prices asked by
growers will induce freer buying OF foreign
woois next fall than has prevailed during the
past year. The demand for pulled woods has
been very strong, and stocks are well reduced.
Sales OF territories are restricted on account of
light supply. Other domestic grades are quiet,
and values weak. Carpet wools are selling
slowly. Dealers are firm in their demands, as
the recent decision relating 10 the sorting clause
makes it very uncertain as TO the values at which
stocks can be replaced. 1t is said that o bales
were secured at the recent London sales for
American account. In Boston the wool sales
for the week were larger than for the preceding
week, particularly foreign wools. In The Phila-
delphia wool market no improvement is re-
ported, although prices have not weakened.