The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-06-01
NEW YORK MARKKTs.


New York. May MIN the stock market
this week there was no reelection o. tne
cheerful temper that had characterized
the dealings OF the week previous Tne
speculation developed dull and nagSfng
tendency. and eventual material conces-
sions occurred In number OF shares. Lon
dan did not figure extensively In the mar
ket. but was . steady seller OF the leading
shares. Realizing incidental to the ad-
yances Of the previous week gave TIE m
itiai impetus 10 the downward drift
The gold export movement maintained
its usual prominence as an unfavorable
factor. and In a number Of Instances the
trafiio earnings Of railroads reported were
disappointing. The liquidation sales were
raided IN some instances. notably In La
clede Gas and Sugar, the latter being at
fected by unfavo-able trade conditions.
support appearing to be temporarily with
drawn by inside interests There WAS
some Inquiry for choice investment stocks.
and transactions were noted at materially
improved figures. The bears displayed ac-
t.vity In putting out lines Of shorts In the
closing deals, and the offerings were tn
creased after the news OF the St. Louis
disaster. The railway shares figured prom
inently In the market. owing 10 the general
pressure against the list In connection with
foreign selling and the depression OF the
railroad returns as well as the great dam
age to property from the Southwestern
tornado. Among the extreme declines was
Sugar. IA to l2lh. The aggregate sales
were s.. 900 sharcA
The bond speculation Of the week vas de-
pressed. some sensational declines being
noted In number Of issues on liquidation.
St Louis = San Francisco consol n fell
per cent. on the d.saffecticn Of the holders
over the terms offered in the reorganixa-
ton plan. On the other hand. Oregon In
provement drAfs rose s per cent. on the
favorable treatment accorded TO the bonds
IN the Reorganization plan The other
changes were less important. and better
tone prevailed In the late dealings. recov-
cries OF ia per cent being made from the
extreme low points. The saies were A.osl.-
op
Governments were active ana lowsr. with
the principal dealings In the new - The
sales were s.ooa.
The hank statement.
Tho statement OF the New York clear
inghousc banks for the i've days ending
May q. while II shows an increase IN the
amount Of the Idle cash Ia bank vaults,
= stu favorable in several particulars.
The exhibit does not include the total
operations OF the week. the Withdrawals
for Saturdays gold export having been
made after the average had been COM
puted. Tho expansion Of loans was 81 "a
oea, and, although this total 10 not as
large as might have been wished, II prob
ably rejects that mercantile demand.
like stock exchange business, was almost
stagnant The decline In money rates
probably accounts Tor the expansion In
part The Interior receipts have been
quito large during the week. The deposit
total. however, as was the case with
other items. does not reflect actual con-
ditions. Taken as . whole. the statement
IS better than earlier Indications. The to-
tai excess reserves Of the New York banks
are now slightly IN excess OF 81 90 go. or
about half tho amount reported for tho
corresponding week last year. Total de-
posts are 100000 less. and loans are
81. oo. 600 lower than FOR the correspond
Ing week In 1886. The banks have gained
about 81. ooe. oce In gold during the present
month. hu; stiii hold SIS. ccooo less than
on February { tust before they begun to
turn gold into the treasury for bonds.