The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-10-30
NEW YORK MARKETS.



New York. Oct @-The course OF the
stock market today was dominated by ex-
treme stringency in the rates for call
money. the extreme high point touched
being 4 per cent. par day plus per cent
interest. which Is almost equivalent TO
100 per cent per annum. The lowest was
10 per cent. early In the day. and the
closing was at 70 per cent. Even at the
high price the offerings of funds were not
large, the supply coming chiefly from the
tenders OF foreign money and the trust
companies. The stringency was due to
the efforts OF the bankers to strengthen
themselves as much as possible In prepara-
ton for possible heavy demand for ac-
cornmodations In the next few days. The
November ] interest and dividend dis
bursements are fairly large. and that date
falls on Sunday. The banks cannot call
loans made Saturday and loans made on
Friday 60 over TO Monday. Then again,
loans made on Monday must carry over
until Wednesday. The furry occasIoned
revived rumors OF the possible issue Of
clearing house certificates, but 1; IL well
known such step WIFI not be taken ex-
cept as a last resource. and the present
strsngency II not expected TO last more
than few days.
The stringency Is confined TO Wall street
and II Is stated thar the needs OF the dry
goods and other merchants are being sup
Piled al per cent. by their commission
banks. Money r. being drawn out OF the
banks TO the extent that legal tenders can
be secured. An increased demand for cash
gold and slight advance I'm the premium
or Commission" by bullion dealers Was
also noted. Some appre hension il ex-
pressed thai further stringency In money
rates may occur tomorrow. There 10 rrac.
tically no short time money obtainahle
In one Instance 81 per cent. was paid for
five days loan, expiring November 4
on q loan OF si0o. eco
The stock market sieadied slightly from
time 20 time on covering OF shorts but
the trend was downward. and the closing
at the lowest OF the day. Aside from the
activity in money the general market was
unfsvorably affected by the uneasiness IN
the foreign financial centers regarding the
depression In kassirs. gold mining shares
and apprehensions OF tight money. The
market left OF weak
Railroad bonds reacted sharply in SYM
patty with the depression OF the stock
market The sales were 81 7ss0f0.
Government bonds declined on saiss Of
$5i SO
Silver certificates were irregular. but
clceed y per cent higher on dealings Of
S.sapeL
Mssey ana Exchange.
New York. Oct. n-Money on cail very
strong at i041oo per cent: last loan %,
cIosed At -. prime mercantile paper NOM
inaIiy 7i.9i5 per cent. Sterling exchange
strong. with actual business In bankers
bills az AAi78<-E for demand. and $4.Si3
as for sixty days. posted rates. MGo
ash and 34Sis: commercial bills. 4Sss.
Bar silver. S4ssc. Silver certiicates. 60
gskc
Toaay's statement % the condition Of
the treasury shows. Available cash bah
arce. szN - go gold reserve. Sis isS ssl.
The treasury at Washington City today
lost So 80 in gold cc4n and -. 80 In gold
bars. which leaves tho true amount of the
reserve Sis. - SIS. Gold 70 the amount 81
$50 90 was today deposited In New York
n exchange for currency.