The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1896-01-16
THE VALUES HARDENED
Bond Issue Had Only One Effect
on Trade.
THE MONEY MARKET IS CALM
Speculation in Products Has Not Been
Active. Though Whsat and Corn
Are Higher.


morrow:
Speculative interests were unques-
tiouably somewhat dismayed by the
unexpected launching Of $100,00O,OOO In
a government bond issue as popular
subscription. The principal cause of
disturbance was the idea that the perl
cd of 80 days allowed for closing the
subscription would afford an opportun-
ity for the further depletion of the
gold reserve and for the development
of other unsettling factors. IT was OBJ
served that while the public was TAX
ing no interest in speculation and that
the hope of the booming tendency
which the sale Of bonds to the Morgan
syndicate might have created, had been
defeated, there was no liquidation
and leading interests in the market
while inclined to stand aside, had no
disposition to work on the short side
Further consideration OF the matter
led also to several other important con-
clusions
''In the first place, It is the opinion
of the street that the Morgan bond syn
dictate will not disband, but will put
in n bid, with the chances In favor Of
its obtaining the whole, or at any rate
all but a small portion of the bond is
sue The fact that the public, even If
1t wants the bonds, can not obtain gold
with which to pay for them, means linn
itation of popular subscriptions, while
the banks which have gold are more
likely to act in connection with the
syndicate than to take the alternative
of paying high price or OF having their
individual bids rejected. Withdrawals
of gold from the treasury have not
been excessive, amounting In all to
there is evidence that the treasury has
armed itself against such depletion of
It's reserve by an agreement with GER
tain New York banks to supply It with
gold during the 30 days Of suspense
The money market, though firm. has al
so Gained down considerably, and
though the gold exports for the week
amounted to s3.250000 Including ST.
100000 taken from the treasury two
weeks ago and held in the bankers
vaults), the exchange market is not so
active or strong as to indicate a heavy
outflow. These factors, therefore, as
serted themselves and caused a mark
ed hardening of values throughout the
balance of the week. At the same
time the market has been very narrow.
and the covering of the short contracts
furnished the bulk of buying.
1.-THE foreign markets have been in
fiuenced almost entirely by the Trans
vaal complications and Venezuelan
question has been relegated to the
background. This. with less acute feel
ing about the latter subject. has checked
foreign selling OF American securities.
and even induced certain amount of
professional short covering for London
account"
DUN'S REVIEW OF TRADE.
New York, Jan. 10-R. c.. Dun &
Companys Weekly Review Of Trade.
which issues tomorrow will say:
THE new year begins with such un-
ce seliiITy TIsstr s5,ssssisess Il somewhat Te
tarded. The proposed sale of bonds
offers ground for confidence in the flu
ture, but no one Is able to determine
what its early effects may be in the
money market. and for a time 1t Is
cause for hesitation more than hope
lessnesn. Speculation in products has
not been active. Wheat is about one
cent higher and corn the same, without
a distinct reason in each case for the
government report. tardily conforming
to the commercial estimates OF some
months ago, did not command great
confidence. Wheat receipts at western
points were over double those of last
but the Atlantic exports were a little
larger than last year Corn receipts
are about a quarter more than last
year. while Atlantic exports are about
four times as large.
1.-THE industrial situation has not
materially changed. There is much
hesitation in the iron business. and
some advance in Bessemer pig. Finish
ed products of iron and steel are on
the whole quoted a little lower.
business in nails is extremely slow
Nothing is doing in rails and while
there is a rather better demand for
sheets and plates and several thousand
orders are reported for structural works
angles are quoted a shade lower. Ev-
erything turns on the contracts for ore
which are still unsettled but the great
excess in production of pig iron over
the present demand is no longer de-
MED. and 1t is expected that quite a
number Of furnaces will presently dis
continue the production. Low prices
for Alabama iron renew competition
with eastern furnaces.
Sales of wool are large. $500. 800
pounds for the week. against 1926. us
last year, although a large part of the
purchases is of speculative charac-
ter, based upon the belief that prices
may be advanced If the new tariff bin
goes into effect
Failures for the week have been 431
against 421 last year"
BRADSTREET' TRADE REVIEW.
New York, Jan. 10-Bradstreet's win
say tomorrow;
General trade has not improved ap-
preciably. Some wholesale houses are
sending out travellers while others have
not completed taking stock account
The mild weather at western points has
interfered with business in some in
stances and the week continued to pre-
sent characteristics OF between-seasons
period. The impression is general that
uncertainty as to financial action by
congress and disturbing political condi-
lions have an unfavorable influence on
the prospect for new enterprises. Mer-
camille collections east west and north
west are complained of, but at the south
comparative ease with which they are
made forms conspicuous exceptions.
The demand for funds at various west
ern centers is most active for a year.
Stocks of wholesalers at many of the
larger distributing points are low. The
first advices of statesmen are for mod
crate demand for goods.
Exports Of wheat Mour included as
wheaD from both coasts of the United
States this week amount to 3.457 900
as compared with 1866, 900 last week.