The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-03-14
Total for the week

"
Two failures in the state during the week
We're reported at Bradstreet's local Office. The
liabilities involved amounted to sl0,65S and the
assets were $3.50
With reference to the general financial situa-
ton Henry Clews has the following to say in
his last financial review:
During the year 1891 our exports OF goods
ana specie exceeded our imports of the like
Items by $lS5,000,00O, and for the first two
months OF 1892 fully the same rate OF excess
has been maintained. 1t might have been ex-
pected that under such circumstances we
should now be importing large amounts OF
gold to settle this large apparent trade balance
IN our favor. The TACT is, however, that We
are called upon to export gold. How are we
10 account for this extraordinary movement?
Alter setting off, against this creditor balance
OF some s2l5,o00,o00 for the last fourteen
months, all that may have accrued against US
In Europe on account of interest, freight on
imports, undervaluations, ETC., there ought to
be balance in our favor OF something like
$ll5,DO,OO0; for an average OF the last decade,
about SS5,000,000 surplus of exports over i'm
ports has sutficed to liquidate these debtor
Items. There arises from these facts the
strongest possible presumption that, since the
beginning OF 1891, considerably over 100 millions
OF our securities have been returned from
Europe; for the credit balance has unquestion-
ably been settled, and there is no other way in
which II could have been done except by the re-
turn OF stocks, bonds. etc. This re1ux OF our
securities dates from the period OF the enact
ment of the last silver law, which doubled the
government purchases OF silver. 1t is coInci-
dent with an opinion everywhere entertained in
European financial circles, and emphasized by
the foreign press, that the course OF legislation
and the bias OF popular opinion in this country
indicated grave possibility that our currency
system might become subject to a general de-
probation of value, which would correspond
ingly diminish the value of all our securities
not made specifically payable in gold. As
Europe holds many hundreds of millions OF
American securities Of the very kind that would
be subject TO such deterioration, it is nothing
more than might be expected that our Cbliga-
tons should be returned in extraordinary
amounts, and the more so as the New York mar
ket has been in a condition to take them with
out suffering serious reaction.
Receipts and shipments have materially in
creased the past few days and business gener-
ally seems to be taking on greater activity.
Following are the coal shipments for the week:
Vessels. Tons.
keweenaw Observation-Disclosures. go
maia " ana ....'.-..'.....s.'...... eoo
Two Brothers. 1900
Total for week 40
GENERAL SHIPMENTS
During the past twenty -four hours goods and
the following amounts: By rail-Ncrthern Pa
citic. i67 tons; Columbia K Puget Sound, q
tons; Seattle, Lake Shore d. Eastern, 253 tons;
Great Northern, "a tons. By water-Two
Brothers. 1900 tons; Puget Sound
and Alaska Steamship Company's boats,
AZ tons; Angeles. 40 tons; Mabel, 81 tons; Henry
nah, tons. Wasco, tons; S. NJ. Renton,
tons; State of Washington. 3 tons; Buckeye, 2
tons. Total shipments. 2,974 tons.
MERCHANDISE AND PRODUCE RECEIPTS.
Produce and merchandise have been received
at the port OF Seattle during the past twenty
four hours as follows: By rail-Nerthern Pa
cific, 362 tons; Columbia & Puget Sound, 10
tons; Seattle. Lake Shore & Eastern, $50 tons;
Great at, Northern 20 a5 tons BY water-Henry
tons. Total receipts, 639 tons