The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-12-09
NEW YORK
Ia stock

New York. Dec. T.-The stock market to-
day opened active ard weak, q genuine
sensation being caused b. the Sudden dis
covery through the publication OF a morn
Ing newspaper advertisement that the d.
recfors OF the American Tobacco Com
pany. while declaring the regular quarter
y dividend on the preferred, had formally
passed the dividend on the common shares.
A flood OF selling orders was expected. and
continued TIL other leading Industrfals
displayed considerable eakne az the
start. Sugar losing II per cent. The con-
cession IN the railway list was slight. Soon
after the opening q smart rally occurred
Sugar recovered ~ per cent Speculation
closed active and weak. sales a~ggregating
l,sss,s4. The Industriais were the features
OF the weeks speculation. Sugar closed
with a net gain or A. per cent. for the
week. The railway shares exhibited a
dropping tendency. The presidents mess
age had no important effect on prices. and
the restoration OF the dividend on North
west cOmmon stock TO q 5 per cent. annual
basis exerted only a passing Influence. Re
ports OF earnings OF some OF the leading
lines which came 10 hand were regarded
as Disappointing Uncertainty as 10 pros
pective financial relief legislation. the con-
tlnued gold exports and steady selling OF
our securities for foreign account all con-
fributed 10 check the movement In stock
prices. This aggregate sales for the week
were I.440,4 40 shares, of which total deal
ings IN Sugar. Tobacco. Chicago Gas and
Leather comprised I.0s.4oo shares. The
railway bond market was dull and lower
today. The transactions amounted TO
$4ss. $50. Government bonds displayed some
i~rregularity during the week. but the varia-
tons were slight, and tOday's bids are
practically unchanged as compared with
the preceding weeks close. The sales were
$500. Government bonds steady. state
bonds inactive. railroad bonds easy.
Money and Exchange.
Money on call. nominally 29Es per cent.
Prime mercantile paper. 4a5iz. Sterling
exchange firm, with actual business in
bankers bills at S.S9Q4-s9A for demand
and S.S7%G4.sS for sixty days. Posted
rates. 81 Slza4.ss and &~.S9laQ4so. Com
mercial bills, A.S7.
Exports and Imports
The exports Of specie from the port OF
New York for the week amounted to &c.
1s3. 4ST In gold and $l.s5.s 05 in silver. The
imports were: Gold s29,644. silver es,1l2
dry goods s2,5S7.sl6 general merchandise
1854, $50.
Weekly Bank Statement.
The weekly statement OF the associated
banks shows:
Increase. Decrease.
Reserve .......,-.....s1 81. 6s0,s15 .....:
s Specie .........:... 1890 St
Legal tenders ...-..... 500 ."....
CCsposlts ...-+.'t-"- Sss'2oS '
circulation .......-.... 4i.iD -.....--
The banks now hold so. 294. &75 In excess
of the legal requirement.
The New York F~Inancier says this week:
The statement of averages OF the asso-
ciated banks of New York city for the
week ending December 7 shows a continu-
alton OF the liquidation on loans. which
has been a marked feature of this state
ment for twelve weeks past. The loss in
loans since September IA has been no less
than $33.000.0 The loan item for the
week ending December 7 is only 100000
in excess of the lowest point recorded
during the present year. or on April s last.
Deposits, however. on that date were only
$4,000 600, against 1921 .000. 900 for the week
Just ended. If the gold exports OF Satur-
day had been figured In the statement, de-
posits would ave shown a decrease. but
the heavy movement from the interior is
clearly shown In the gain OF 81. $685. 600 in
cash by the banks. This expansion prom
ises to continue for some time to come, IL
the domestic exchange figures are a cri-
teriOn. OF the cash increase 1t might be
noted that 1920. 400 OF the total amount
was in specie, the total now held by the
New York banks aggregating S6I.3 81, 900. or
a gain of nearly s7,00o.0 900 since October !.
The total gold holdings, however. are $l4,-
un.wo less than reported last February.