The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-03

New York. Aus. 1--Tcdays stock mar
let was duh and professional the vniy
s.ock that reached even Comparative ac-
uvi1y being Sugar That stock also dis
played The widest 1uctussio-s- The only
developments that could bs considered 70
exert a legitimate influence upon prtecs
were reports OF spread IN the ara Of
rate-EgtttEg In the Southwest and the
bank statement TIE last mentioned ex-
hahst was unfavo-anly regarded by tire
room traders. IL being claimed TO show
evidence OF the boarding Of money. Well
Informed bankers declare that the infer
ence was unJuStif1s6- The OPENING prices
were generally higher. on purchases for
both accounts The market soon became
irregular and finally. on reslixaftons and
POPULATIONS IN the low priced shares.
prices receded al along the lire. The
downward movement was accelerated by
offerings Of heavy blocks Of Sugar. de-
pressing It's price "a from the early high
point The closing was st the lowest
points AZ general fractional iosses-
conditions affecting the values or stock
exchange securities have not materially
changed during the week. The street stsii
attaches peculiar interest 10 the tone OF
the limited market for American securi-
ties In London and at least upon one oc-
casson the price at that center was gem
orally believed to have been manipulated
on orders from this side. European and
domestic investors and spectators have
had their attention distracted from topics
OF recent paramount interest 10 conssd-
Grafton OF a wide Increase in the area OF
railroad rate cutting. sharp reductions
having been made in both passenger and
freight rates. THE more savage cutting
had previously been confined 10 the Vest
and South. leaving the Southwest COM
paratively undisturbed. but In the past
day or two the roads In that section have
also become emhroiied The dealings
have continued chiefly under the control
OF the professionals. and at times the
operations in Sugar have entirely dwarfed
the trading In the general list. The mar
ket during the early part OF the week dis
played acute weakness under persistent
bear attacks. assisted by various unto
ward Developments. The continued offer
ings for foreign accounts. the rate dis
turbancss referred to. less satisfactory
crop advices and discouraging traffic re-
ports were effective in depressing the rail-
way shares. Considerable stress was Laid
upon the failure to float the New York
city and Brooklyn bonds and the increas-
Ing firmness OF the money market. Time
accommodations ruled high, and the re-
dictionary tendency OF general trade was
reflected In higher rates for commercial
paper and lessened inquiry. The treasury
situation received less attention owing to
an appreciation OF the magnitude OF the
preparations made by capitalists TO main
tain the financial equilibrium In the In
dustriais Sugar was depressed momen-
tarily to par. The list as rule showed
substantial losses as a result of the w ks
operations. The sales were 99s 400 shares.
The bond marke. ruled duh. but gener-
ally higher; the feature OF the trade was
continued foreign selling and decided
heaviness In the high priced shares. The
sales were s. ,0tn-
Government bonds were a shade lower
early in the week. but stiffened TO about
last weeks closing. The sales were $780,
$50. Silver certificates were dull and ir-
regular. closing y per cent lower. The
sales were $I57, 900.