The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-01-07

NEW YORK MARKETS.

New York, Jan. G-The stock market
today was dominated BY variety OF con-
illusions and conjectures over the action
OF the administration IN resorting 20
popular loan. Wall street almost 20
man had regarded an arrangement with
Mr.. Morgan and his associates as fore
gone conclusion, and official Intelligence
from Washington City giving thu loan 10
the syndicate was considered 20 be mere
ly 4 question Of day or two at the fur
thest. The actual developments so sudden
" announced had a decidedly unsettilng
effect and the unfavorahie influence was
lent force by special consideration bear
ing upon various stocks. The most discour-
aging deduction drawn by the financial
community from the popular loan plan,
regardless OF its merits from any other
point OF view, In that the delay entailcd
Hereunder may cause acute disturbance
In the money market and temporarily ag-
gravate the prevailing unrest Already
rumors of a distressing character have
been circulated. II IS alleged that out-of-
town banks have been recently very slow
in RENTING their balances 70 their New
York correspondents. Bank Examiner
Kimhall authorized a representative Of the
Associated Press TO deny any and ell ru-
rn0rs respecting any New York institu-
tons Two small uptown banks had re-
Gently. on account OF slow collections. bsel
afforded some assistance, without the Is
or clearing mousse loan SeFtFscattSs
but the obligations had been substa2 TALLY
made good. REnoTs OF probable trouble
among the brokerage houses were also
PASSED around after the close OF business.
but no confirmation was obtained. Money
on call was hrmer during the day. but
loans a, above the legal rate were excep-
ttonai IL was stated that 81 300 90 which
had been ordered for shipment recently
but withheld, would be sent out on
Wednesdays steamer. and the impression
prevailed that considerable amounts ok
gold would now 90 forward. No engage
ments were reported. Reports OF con-
ference OF the clearing house members on
thu subject today could not 10 traced 20
any responsible source. First cables from
London came higher all around and re-
ported advances also IN American stocks.
This impaired a more cheerful tone pre-
vfolss 20 the opening % the local market.
and furthermore. a number OF reports OF
railway traffic returns for December, ez-
hftstfna. Increases FOR the most part. also
contributed 20 the hopeful sentiment In
su.rcd- The market opened firm, and y
the initial dealings advances we're scored
The temper suddenly changed. however.
and on free selling by leading professional
operato-s ard their following and the un-
covering % a great many stop orders,
prices rece1ed steadily under the tnfn-
sreA noted in the preface of tbs article.
About noon q temporary AID partial TaI-
Is occurred. bot the downward movement
was soon resumed and gained full force
IN the last hour. VIXEN the market appear
81 20 be entirely without support. Tie
closing was al tne lowest paint OF TIA
day. and anal sales showed general losses.
The railway bo1d market displayed mark
81 heaviness. icing Influenced ~ tire
causes affecting the share speculation IiiS
speculative issues were sold freely. and
Welded isTs F,sg cent The dealings aggre-
gated 8 II 900. Government bonds, weak
AID oaeE. H.-A A. Essi2sExsa. 2aaa ~,