The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-07-20

The sone wss weak ana fevevtsh. and after
momentary SPIRITS 1T the opening and AZ
the end OF the A-sc hour prices steadily
recedee TO TIE close. London was not
factor 70 any apprecssble extent. anc tae
feeble rallies we're entirely due 10 covering
by the shorts. The volume Of business
was moderate. with Sugar and St FauA
leading n point % activity. The rszrse1
left CT weak at the lowest prices. showing
net declines OF y a. Per cent The drIfs on
the market for the week was toward
lower level. and az intervals speculative
tension was extreme. The Influences bear
ing upon prices included apprehension Tor
Mr.. Vanderbilt. which was Improved 10
the fullest possible extent by the bears.
not only upon the Vanderbilt group. puf
On the general market: a break In the
government bond market. an advancing
tendency ia the foreign exchange mar
ker, ard the exports OF gold. aggregalng
q. % So In addition the bears made cap
ft@l cut OF the extreme depression n taAe
prices Of farm products. the duliaess or
general business and wholesale cutting OF
rates in various directions London was
alternately a buyer and seller during the
week. but on the whole exhibited less APP
prehension over the situation than the
local investors and spectators. The gold
exports in reality fell several million dor
lars short OF the bear estimates. but the
continued strength OF the exchange mar
ket was believed TO foTeShaaow further
shipments early next week The market
closed firm. An extreme decline OF = per
cent Ia the new government ~ coupon
exerted . decidedly unsettllng influence.
but heavy investment buying Of the bonds
both in and outside Of the exchange fol-
lowed and was attended by nnsubstantiai
rumors OF an impending new government
bond issue. This last report served tenn
porarily TO rally the market. The bonds
left on at iis. as compared with ils week
ago. The declines in prices covered the
entire market. ranging from Las per cent.
the lowest level being reached on Thurs
day forenoon. The aggregate sales were
i7e.7eo shares. Railroad bonds during the
week improved with the stock market
Sales were ssh. GO. The more noteworthy
net losses are In Chicago & Northern Pa
cifc firsss certificates. s7s. Atchison adj
justment, rs: do general IL. 4; Northern
Pacific consol IS certificates, 5ss per cent
Government bonds were unusually active
and irregularly weak. The sales aggre-
gated $50. GO. chiefly of the new Is cou-
pom Those bonds sold down 10 il27S. as
compared with liz. the final sales OF the
previous week: rallied TO il3ss. and closed
at lis. There was a moderate trading in
the IS and old Is registered. In silver GER
tificates the aggregate sales were Sss.So
al ssges5sc.
Exports and Imports.
The exports of specie from the port OF
New York for the week amounted to
H3Gs7s In gold and 81. 9S. IS In silver.
The imports were: Gold. <i7.l75; silver.
SIS. 5ss. dry goods. ~ iss. sos: general mer-
chandise. SOS. IS.
weekly bank Statement.
The weekly statement OF the associated
banks shows:
Increase. Decrease.
reserve ...... ..s..-.. ..-.....:. S44.-So
Loans .....- $500 $500.
IcGal tenders ......... $1,000. u 100
lerposats -..... ...-.-.. 25s.eo ...-....
Circulation ......-.... 400
The banks hold 81. .l2s in excess Of
the requirements.
The Financier says this week: The state
ment OF the clearing house banks of New
York city for the week ending July IS
shows an expansion In loans which Is dis
tinctively a favorable feature, but since
the s20o.ooo withdrawn for export Friday
are not included In the totals Of the week.
the real condition or the hanks Is not
shown at the close Of business saturday.
The fail in domestic exchange rates. which
has been a prominent feature of the week
at nearly every interior point of import
ance, is certain Indication that the heavy
flow OF money to this point is at an end
and that an opposite movement Is TO be
expected, especially toward the South and
West. The banks gained something like
s.. 0oo. 600 from the interior movement for
the week ending Saturday. but with ex-
change at heavy discount IL Is not likely
that this addition 10 the excess cash will
be continued. On the other hand, prepa-
rations for the fail are under way. and
this should Greats a demand for money
for mercantile sources. The loans of the
New York banks. while now at the highest
point Of the year. are still $1,000 600 less
than at this time last year. IL this year
repeats the experiences OF last season. the
frn1ness or the money market would seem
assured. Since the talk or another bond
issue IS popular. IL might be well TO call
attention to the fact that, OF the millions
that have been taken from the treasury
since February s. little Il any OF the
amount has found It's way into New York
banks, their total specie holdings at pres
emit being only 81. $50 coo more than the low
point reached after their specie payments
for bonds had been completed.
Money and Exchange.
Money on CALL easy at 2 per cent; last
loan. per cent: closed, 2 per cent. prime
mercantile paper, s65is per cent. Sterling
exchange, firm. with actual business in
bankers bills at ssSA44@ for demand.
and 81 SsGl4 ssh for sixty days: posted
rates, 81 ssikQI ssis. commercial bills. As7.
Bar silver, 6S7sc. silver certificates. COS
Qse1.c.
nouds,