The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-05-02
NEW YORK MARKETS.

New York, May i-Thers was a fairly
good distribution OF business on the stoek
exchange today and the transactions were
comparatively heavy. withstandinz the
tact mat there were periods Of Inactivity.
notably IN the morning when speculation
was sluggish. The underrone Of the mar
Vet vas. however, firm throughout. ana
ai,nougn there We're occasional reactions,
mere wac no pressure 10 sell al any time
and the changes IL prices OF today are IN
the main toward higher figures. the ex-
cepthon being ar a rule In speciaItiez. The
Dealings were all OF the home account
as u was a holiday on The London ex-
hange' and the strictly commission
houses were more largely in the market
ffan usual, which goes 10 show that out
slaers are being attracted 70 the street.
me bulk Of the trading vas In the Indus
trials. the grangers, Reading and Kansas
~ Texas preferred. with Sugar as the
leader. The last named stock was sn
DISK Demand and advanced with only
very slight reactions 70 the close, the
last being the highest price OF the day
and "a above yesterdays final sale. Buy
ing was credited 20 an inside pool: others
nad numerous following from among
the traders. The upward movement in
Leather stocks was renewed. the common
being In most request and selling up e14.
with final reaction Of ~ The preferred
~tl-rFN a. At&N fDp inquire. MAKING "A gam OF
Ia on last nights prices. The Corviag
gained - I'm both common and preferred.
The Changers closed at an Improvement
of z.45s, the latter In Northwestern. The
market closed strong. There was mod
crate decrease in the volume OF bond
trading. but the tone OF the market was
firm. The total sales were s., 5000
The Evening Post. in ats financial re-
view today. says: More important than
any other development I'm today's market
was the weakness of sterling exchange.
Except for the temporary decline in uhe
second week in April, rates OF exchange
have steadily pressed to a maximum ever
since the bond syndicate contract. The
reason for this has been explained. The
natural movement Of exchange was to the
point OF actual gold shipment. Such a
movement, the syndicate. In performance
OF It's contract, ayerted through It's own
sales OF sterling. But az their wish was
merely 10 hold the market under the
point of forced exports of specie. the
syndicate bankers naturally withheld
their bills until top rates were bid. At
the present there are IN process OF con-
summation several transactions through
which the current demand for sterling ma y
be met with bills drawn against recent
security made IN London. The syndscat e
bankers have themselves placed IN Lon
don within fortnight two or three blocks
OF American securities, thclunlhS those or
the Southern railway, the Manhattan
Elevated, and probably at least one other
company. But how far the sales VIII act
towards the permanent depression Of ex-
change Is as yet doubtful. IL Is quite
possible that the syndicate bankers here
would cover on such reaction part OF their
own previous sales of sterling. PerTna-
nent movements IN this. as so many other
markets. are likely TO depend on the un-
folding outlook for the crops.
Petroleum--Nominal. United. closed,
SIS bid.
Railroad bonds-Firm.
Government bonds-Flru.
State bonds-DuN.
Financial.
Money or call. easy at IL per cent.
last loan. IL. closed IL per cent. Prime
mercantile paper. 3i2Na.
...-..aa..- -. X,-oalc with aetna