The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-25
NEw YORK Markets.


The stock Exchange.
New York, Nov. .2.-The stock r.a-tze.
today opened dun and IRREGULAR. with
changes "a prices unarrportan.- 4 rad
q the I79us,riais By the traders resulted
IN cnly fractional declines TIE railway
shares we're unaffected by the hsavsness
n In6us--ials, and ruled slightly above
last nights fnai prices. IN he late deal
ilgs the movements Of prices were erratic.
and the closing was Irregular. There Was
no special news bearing upon the prices,
but the dTnness OF the exchange market
was considered indicative OF further heavy
exports Of gold next week The supply Of
commercial bills Is stu very Light Specu-
lai,on during the week was irregular. with
q downward trend. The salient feature OF
the week has been the heavy outgo OF gold,
s.. 53, -. being close 70 the heaviest ship
fnsnt Of any single week on record. THIS
was al drawn from the treasury reserve.
Il Is obvious THAI the dam built by the
great syndicate bankers % protect the gold
reserve has given away, because Of the in
tense pressure for remfttances, and con-
sequently food OF gold pours forth. Sec
Rotary Cariisls's after-atnner speech ~ the
banquet OF the Chamber q Commerce, ad-
vocatlng the retirement OF the greenbancks,
has redirected attention 10 that question.
In the judgment OF many experiences
flnanciers, the real underlying cause OF the
ignored. II s a simple proposition tnat the
American people owe the money - Eu-
rope, ana can only pay Il by sending gold
Our imports OF merchandise are very large,
while our exports are relatively quite
small. Every year al least go Anert-
can citizens visit Europe. spending there
an aggregate OF al least 800, 90 coo. When
10 these drafts upon the products or the
farm, the mine and the factory are added
the sums necessary 20 pay interest and
dividends on cur securities held abroad,
and. az times 10 take back such part OF the
securities themselves as the foreign holf-
ers wish 10 resell 10 us, as, for Instance,
recently On account OF the kafir slump.
s. is not strange that we are sending gold
TO Europe. To relterate at LIS time
the United States owes moro money 20
Europeans than the value OF our exported
merchandise viii suffice TO 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
eEn Union collateral trust IS. IL per cent,
and Oregon Short Line consols IS trust re-
ceipts. 1 per cent. The dealings amounted
to 1854, Goa. 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
portant losses were: International and
Great Northern 3ds, per cent. Union Pa
cfnc collateral trust e.. 3l%, ard Atlantic
& Pacific guaranteed IS, IL per cent. There
was an increase in the trading in govern
ments at the expense Of values. The new
Is made a sharp fractional decline. The
sales were $4,000. Government bonds
steady, state bonds Inactive, Railroad BONDS
easier.
Money and Exchange.
Money on call, easy at per cent; last
loan. per cent; closed. per cent; prime
mercantile paper, S$4Q5 per cent Ster-
ling exchange, firm, with actual business
in bankers bills at 469lsGLS9l4 for de-
mand. and s4S7izd4s72. for sixty days;
posted rates. si.SSls and $3.50; commercial
bills. sISp5.
Exports and Imports.
The exports Of specie from the port of
New York for the week amounted to s7,ls3.-
2S9 In gold and $76l,2s5 in silver. The i'm
ports were: Gold. Sl1s05 silver, S9.S7S;
dry goods. $2o2S, $50; general merchandise.
ss.l5o,16o
Weekly Rank Statement.
The weekly statement Of the associated
banks shows:
Increase. Decrease.
Reserve .................... $1,000. 500. 100
Loans ..-.--....-'......-.--. -. --i''V'
Specie ...................... $olo, ~ .....-..-.
Legal tenders .......-....... 1900 1,5sO'a $40
Deposits ...............,... 1890. I,VoS,UVV
Circulation .. 20S,000
The banks hold $50 in excess OF
the % per cent. rule.
The New York Financier says this week:
As is usually the case when heavy gold
exports are being made. the statement OF
the New York clearing banks does not re-
fleet existing conditions AS shipments
during the six days covered by the report
aggregated 5000. coo, 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
at the sub-treasury For six weeks past
the specie item in the statement has beea
showing steady gam Inc
gain reported by the combined banks Tor
the week was $5t6.700. bringing the total
specie item 10 s66.2 1900. or an increase OF
nearly $500, 600 since October L last. This
regular increase has given rise to rumor
that the New York banks were preparing
for another bond Issue. but as tho banks
have been losing gold since June l until
recently, and now hold less than was re-
ported Immediately after they had alb
s3rbed the bond issue the small increase
does not seem TO possess much impoT-
lance. IL 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.
Bonds.
is. As. new reg. 1914. -. r. & N.......1llis
New IS. coup. .l1lis &. I. lists Of %. 1885,
F'tves. reg......1l4sa p. & II. q. 7s....1i4@s
Elves, coup..-..ll4 . Foula ---...-.-. ~
T0rrs raC.....liiie Erie seconds. 13ia
Fours. coup....1ll1 81 81. & 5. A. SIS f05
TWOs. req ~ oetcns --.------lD
Pacific So Of 'a3..lt- az. & T. &. ys....llli2
Ala. Glass A-..-l.i'4 S-Xes $1,000. -l1I
Glass E.....-...f o. VI. *. r. lst IS. 50