The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-01-27

NEW YORK MARKETS.


New YORK. Jan. 25--Ths course o. totays
speculation marked . return OF confidence
as TO the immediate outlook on the part
OF the official community. The improve
ment that occurred was IN far measure
due 20 actual buyers Of stocks. although
professional operations figured for the
greater part Of the days total business.
The volume OF trading was relatively above
the recent average. A slight hesitancy
was noted a. the outset, which was due
to the failure OF the London market for
Americans TO respond TO the strong clos
ing prices here yesterday. The local mar
ket, however. soon took on firm tone,
and prices generally advanced on buying
for both accounts, the gains ranging from
i TO per cent Final prices, with one or
two unimportant exceptions, were at the
highest OF the day. Aside from the meet
ing Of the anthracite coal presidents on
Thursday, the outcome OF which IS still
10 be determined. there have been few do
mestsc market developments OF me first
class Money on call has continued easy,
and indications OF an increasing DISPOSE
ton on the part OF lenders 20 offer time
funds are beginning to be noted. although
the demand for thirty-day accommodation
Is still largely N excess OF the supply. An
improved condition of the market for COM
mercial paper Is gratifying. although dis
elimination as 20 quality IS still unusually
keen. There IS conviction on all sides
that the danger of serious disturbance 10
the money market incidental 10 the with
drawals from the banks by the successful
bidders for the new government loan is
unlikely. Regarding the loan Itself, the best
informed financiers express even greater
confidence than heretofore as 20 its sue
cess. At the same time, IL Is not believed
that more than one-quarter OF the domes-
tic subscriptions VIII he made from outside
New York. The general speculation. as
whole. was extremely duh and prOfes-
sional Toward the end OF the week fairly
large actual buying orders were executed,
and shorts also fell into line. The railway
bond market today was quite an.n-Ated
for a half holiday, and the dealings were
well distributed. The total OF business
distributed was sI,il1,0oa. The aggregate
sales Of railroad and miscellaneous mort
cages were Sc. - 900. Government bonds
steady. railroad bonds firm. and state
bonds steady.
Money and Exchange.
Money on call offered at 4 per cent; no
loans. Prime mercantile paper, sgS per
cent. Sterling exchange duh and lower,
with actual business in bankers bills at
81 SSS4 Q4.s9 for demand and S.SIlza4.S1Ss
for sixty days. Posted "a ties. si.sSiz "a. S9iz.
Commercial bills. sis6A.
Weekly Bank statement
The weekly statement OF the associated
banks shows;
Increase. decrease
Reserve .-.-.....- ....s0so1-sSSJ ........
Loans ...-.-. $4,000 ~ -
Deposits 80. ...... s....... -'V0S''V
specie r....... 19an.fse $1,000
Legal tenders 80. z,uo,Soo ',.......
C4rculAIion.-.- .-s.-t-- AA-s'VS
The banks hold ss7.s7s.O0O in excess OF the
requirement
The Financier says: The statement OF
the associated banks OF New York city for
the week ending January Is Is a repetition,
so far as the general showing OK the sew
eral items is concerned. of the previous
weeks exhibit The steady decrease or
loans, were it not for the unusual condi-
tons now prevailing. might be Regarded
as one OF the most unfavorable symp-
toms which have been shown for months,
and the contraction in a measure has been
intefpreted as a disturbing factor. The
liquidation IN the first five weeks has been
in excess OF SIS. 0oo. coo, and the total loans
at the end OF the current week We're s'o,-
coo 600 less than reported last SEPTEMBER,
when the highest mark ever recorded IN
the history OF New York banks was
reached. No doubt the banks are molding
their business to meet the new bond loan.
The decrease in the deposit item reflects
the Withdrawals of legal tenders for export
purposes and the shifting caused by the
contraction in loans. With a total excess
of reserve OF s37 ooo.ooo there should be no
difficulty In absorbing considerable por-
tIon Of the new bonds on the part OF the
Now York hanks IL such investment is de-
erred It Is worthy OF note that OF the Vs.
Iso 900 in specie now In the New York banks
six institutions hold sSl.iis,opo, or 40 per
cent OF the total. The holding OF the Ma
tionaI City bank-Teariy $1,000, Ooo--cons IL
tutes over Is per cent. OF all the specie IN
the sixty-six New York clearing house
banks.