The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-31

was sNe ecwe~frg Of short cc~f-zrts ~
TIE r~a<esssorzi zezsers. Influenced " tas
Improvement n shs financial sifuat2al
based upoa the goss imports News
farther snxagsra@ass today sro1ght tae
agg~@wn.e fncl13krg actual zr-sSaass e
s. xaess TIE nazk ssasesnents as O. -
week previous. was -uch less ursfayeTA-
-. .nEr lad been anticipated. TIE rs-
ss-we sacwsag a decrease 81 less 1nAa
81 30 The sxEs5tt caused scEetsAES e
q eorslsc< q cp.ukon among experts =
sssEhe rxtn occurred from TIRE Increases
ezxcusataor froxa the geld imports. and
fairy large s8rn vas recovered ~ &8e
bark. direct from New Orleans II pay
rert o. advances In sugar oas11Ies-
Ther. again. me shipments u enrTeEss
"a the interior. which BAD been very heavy
tire rrsi half fefl OF very considerably -
tire last three DAYS % the week TIE
foreawn tra6e statement Tor July shows
very favor hiv. ire exports az rserchaf no =
Increasing 81 TT1fE ard re imports DE-
c-z2slng G. ses csc as compared with TIE
ssma rno1Eh last year. II. publication
os the sssteua~n:s referred 20 encourages
the bulls 20 BID ur prices IN various
parts cr IRE list. with the s-~cisltiss the
chief Tsosats TIE strengthening irfiu-
ence was impaired also by support. De-
neTec TO be from insiders, in the 0cHc
and Vanderbilt shares. ard Offset par
italy the s~ec. of some OF the less salts
factory traFc returns presented. Tie
closing was at TIE TOP level with frac-
tfonai xas-s generally. The dominating
factor In the weeks Stock market was the
d4n1oraiixesi condition OF foreign exchange
The drop 81 exchange was 70 ths lowest
point reached since 1899 Posted Quota
IONS also underwent sharp changes. The
caii money market jumped 70 an extreme
Is per cent. but later rscefed - per
a
make, in general displayed considerable
irrsguiarsty. owing 10 the features al
work. but the net results were sharp
gains The bond market was quite active
today. speculative issues being especially
strong. The sales amounted 20 sSseea
During the week the market WAS very
weak. many stocks declining. The sales
were c.s1s co.
Government bonds were steady on mod
crate sales silver certificates were dull.
on sales OF sa.oo6
weekly Rank Statement.
The weekly statement of the associated
banks shows:
Increase Decrease:
Reserve ..-...- $4,000 -'.'..'.. sSs so,
Loans -.....---- -s.-... eSS
Specie 49,. ..-.......... As0 ..-..--..
Legal tenders .......-. sso3s.o3 .....-sc..s
deposits .-.-s .r-s.----. of07"soTV
Circulation .....- $50. sss.7oo 100000
The banks row hold ss.sss. 80 IN excess
% ne requirements
THE New York Financler tf,s week saws:
THE movement OF money ont OF the clear
inghouse banks since July fs has reduced
their deposits nearly ssA 600 noa. and IN the
same length Of time loans have shrrnk
81 no no Despite this heavy Drain. how
ever the bank statement for The current
week In repetition IN its favorable feat
IRE ~ tbs one preceding Il. and The
banks 80 what might be called the snex
OF the present stringent situation hold
nearly So 30 GO more cash than The law
requires II IL true that this cash IL not
equally distributed and that many OF the
institutions are below their legal reserves.
but the showing IL encouraging IN MANY
ways The opinions which brought about
the change In the present statement are
similar 20 those % the previous week. The
banks lost heavily 20 the interior. bat the
net decrease IN cash wa. smaller than
has been expected. TIE gain In specie
seems "a have been made IN lots varying
from ssa.eoa to sloa.ooe among the larger
banks. The sharp contraction reflected
through the statement - showing IN the
decrease IN loans which was made neces-
ssry in order 20 maintain the reserves
The banks have been taking out new cir
culation as fast as possible. II II encour-
aging 70 note that the reserve r. still above
the average ut this season for a long
series OF years preceding the 1898 panic.
The heavy inflow OF foreign gold will have
q marked effect on succeeding bank state
ments. and money rates promise 10 fall
materially before the end OF the season.
There Is no doubt that the imports VIII
continue until the legitimate demand for
money Is fully satisfied. Nothing but an
unforeseen panic can put rates back 10 the
figure they have held at for several weeks
past
Exports md Imports.
The exports OF specie from the port OF
New York for the week aggrega ted s.. na3,-
800 In silver. no gold. The imports were:
Gold. S.ssI.lss: silver. 81 .5i2: dry goods.
s-.ZAs.S1a. general merchandise. 5,404. GA
Money and Exchange.
Money on call nominally per cent:
prime mercantile paper. nomInally 7Gls per
cent. Sterling exchange. steady. with ac-
tual business IN bankers bills al s4S3la
CASA for demand, and s4,s2g a. s2ls for sixty
days; posted rates. s4SZlzGLS and sIsils
asa. commercial bills. s4.a Bar silver.
6ep.c.
Bonds.