The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-24

las: nights anal prices. IN the late deal
.ugs the movements CT prices were erraEic,
and th= closing was irregular There vas
10 special news bearing gpon the prices
but fhe frmnsss OF the exchange market
vas considered indicative OF further heavy
exports OF gold next week. The supply OF
commercial bis Is st1l very light Specu-
Iatf0n during ne week wss irregular. with
\ downward trend. The salient feature CT
the week has been the heavy 0uEgo OF gold.
sT.zS.9s. being close 20 the heaviest ship
ment OF any single week on record. Tats
was all drawn from the treasury reserve.
II r. obvious that the dam built BY the
great syndicate bankers 20 protect the gold
reserve has given away. because OF the in
tense pressure for reruittanceS. and con-
sequently a food q gold pours forth. Sec
re-ary Carisle's after-dinaer speech ~ the
banquet Of the Chamber Ct Commerce, ad-
vocatIng the retirement o. the g~reenoancks.
has redirected attention 20 that question
In the judgment OF mani experiences
hnauciers. the real underlying cause OF the
persistent export movement Of gold was
Ignored. Il is a Simple proposition tnat the
American people owe the money - Eu-
rope. and can only pay II by sending goId.
Our imports Of merchandise are very large,
while our exports are relatively quite
EAAaAaA ANEA- NEAA &A 50 +F"F~
can citizens visit Europe. spending there
an aggregate Of a. least s1eo0a,oo0. When
TO these drafts upon the products OF the
farm, the mine ard the factory are added
the sums necessary 20 pay interest ana
dividends on our securities held abroad,
and at times 10 take back such part OF the
securities themselves as the foreign hold
ers wish 10 resell 10 rs, as. for instance,
recently on account Of the kaffir slump,
it is not strange that We are sending gold
TO Europe. To reiterate. at LAS time
the United States owes more money 20
Europeans than the value Of our exported
merchandise will suffice 10 pay. The re-
suits OF the weeks operations were losses
generally. Trading in bonds today was
light. and upon a declining tendency OF
prices. The net losses are headed by West
ern Union collateral trust s., IL per cent,
and Oregon Short Line c0nsols os trust re-
ceipts. l per cent. The dealings amounted
TO s5S4,ep0. The movement Of bond prices
during the week was dominated by the
course OF the stock speculation The ore
gon Short Line issues were prominent IN
the trading. and advanced sharply, with A
subsequent partial recession. The more I'M
portant losses were; international and
Great Northern 3ds. ) per cent. Union Pa
cihc collateral trust es. 3l2. and Atlantic
e. Pacific guaranteed Is. IL per cent. There
was an increase IN the trading IN govern
ments al the expense Of values. The new
As made a sharp fractional decline. Inc
sales were $4,000. Government n
steady. state bonds inactive. railroad bonds
easier.
Money and Exchange.
Money on call. easy at 2 per cent. last
loan, 2 per cent; closed. ? per cent; prime
mercantile paper. 3Am5 per cent Ster-
ling exchange, firm. with actual business
in bankers bills at 4.S9sdiS94 for de-
mand. n si.S7Ad4S7A. for sixty days;
posted rates. s4ss1a and $3.50; commercial
bills, $4.S6k.
Exports and Imports.
The exports OF specie from the port or
New York for the week amounted to s., ls3,-
2S9 In gold and s76T.2S5 in silver. The inn
ports were: Gold, $11.s05: silver. ss.s7s;
dry goods. s2,023,SS9 general merchandise,
$3.50. 100.
Weekly Bank Statement.
The weekly statement of the associated
banks shows;
Increase. Decrease.
Reserve ................ ....." ) Sfy'lo
Loans -. A'V'
Specie ................... S5l6. 100 $1,000.
Legal tenders ........-...... 80. 1'osY'op
Deposits .......-..-..--...- -.-.--.. 4'o3o'voo
Circulation .-.-.-........-.. 1900 -"o'o'O
The banks hold Sl9, 594,eJ in excess Of
the . per cent. rule.
The New York Einancier says this week:
AS is usually the case when heavy gold
exports are being made, the statement or
the New York clearing banks does not re-
fleet existing conditions. AS shipments
during the six days covered by the report
aggregated $780, 600. the banks, despite
the fact that they received more currency
from the interior than they shipped, must
have lost largely IN legal tenders, which
were withdrawn for the exchange OF gold
- a..N H. rs nHanEa mast
the specie item in the statement has been
showing a steady gain. The
gain reported hy the combined banks for
the week was 1915. 700. bringing the total
specie item to $66, Isl COO. or an increase Of
nearly S. so. eco since October II last. This
regular increase has given rise TO a rumor
that the New York banks were preparing
for another bond issue. but as the banks
have been losing gold since Tune l until
recently. and now hold less than was re-
ported Immediately after they had alb
sarbed the bond issue. the small increase
does not seem TO possess much fmpor-
lance. 1t is doubtful. too. whether the re-
cent expansion OF the specie item means
that the banks possess that much more
gold. since silver certificates are also
counted as specie.
FIour-ReceGts 1880 barrels. exports
300 barrels. Market inactive; holders
tolerably steady. some sales al Toe lower
on the week, closed duh.
Wheat.
wheat-Raceipts 1880. exports 1000.
Spot quiet: No. > red. 67&c: No. l hard.
662c. Options opened steady. advancing
subsequently, on lighter receipts in the
West. which caused local covering, and
closed steady. December, 6iQ64l4c; closed,
6l9sc.
Hops.
Hops-Qulet.
Petroleum.
petrnlAnm-S.ealN. SCI ID.