The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-23

fling Western Jnicn wss prominent. and
after an initial gain Of nearly per cent.
on EuutoTs nf the absorption Of the kell
Telephone Company. lost nearly ali u
the Improvement on the official denial
81 the staTy Tba stock subsequently rose
90 the early high figure. sEs.. shading OF
slightly a. the close. THE speculation
hnns insetivs until the publication of the
Statement Of tha averages u the asso-
cistnd hanks The exhibit vas decided
sstrr1ss - the street generally. as u
showed anlv an Insignificant less IN re-
serves. ~ ms Fare Of expectations Of de-
crease 81 - ssnaa - s asSa sa A loss OF
sa.nssl Toe IN deposits ard a contraction or
sa.es4 Ta IN leans we're The unfavoraoie
features ef the statement. while TIE small
decrease in ths fessfva Vas partly attrie-
0tsd To gains hv tbs hanks through the
sifh4traasurr gpssu tionz. This gain OFFSET
the shipments Of currency 10 the Interior
Tire market stiYened 10 the extent Of
sharp fractions IN the last haif-hoar, Su-
gar and Burlington exceptionally rising
5ts per cent. The closing was strong AZ
fractional gains. Speculation during the
week was marked by decided irregulartty.
ard was dominated BY the professional
dealers TO certain extent The bulls
were encouraged az the outset By a ia
yorsole international trade balance and
by the annual report Of the Northwest
ern. which was even more favorable than
had been antScipar ted, together with rapid
successive declines in tne exchange mar
ket 10 point permitting the engagement
OF s., 75assa in gold abroad fer import TO
this country. These developments occa-
stoned improvements in prices all around.
hat later the speculation was clo0ded by
various &c pressing factors These IN
cluded distressing reports as 70 the con-
ditious OF affairs in mercantile circles. all
advance in call money rates to an ex-
treme per cent. rumors OF an impend-
ing issue OF clearing house certificates.
and finally an application for certificates
by leading bank. presumably 10 make
matters easier for less influential insti-
tutions. The bears improved the opportu-
mites afforded and caused = hysrerical
condition Of public sentiment Rumors OF
acute financial embarrassment in various
quarters were circulated, and predictions
were made that the surplus reserve OF
the city banks would be cut in half by
the end of the week. The fiat reception
OF the New York city loan was an I'M
favorable incident, and London was
fairly steady seller of American securi-
ties throughout In the later dealings
sterling exchange stifened slightly and
again receded a small fraction. The net
changes in prices showed losses generally
in the more important shares. with
few exceptions. notably IN sugar. which
left OF Ia per cent higher.
The features OF the bond market were
chiefly dizziness and wide fluctuations in
the inactive issues. The tendency or
prices was toward a lower basis, with
some pronounced net declines in specula-
tive bonds.
Government bonds were shaded slight
~, on sales OF SissOoo. Silver certificates
displayed acute weakness in the early
trading. including a fall of per cent. 10
IS. with a later rally TO 6711. The trans
actions were sl72.oa.
Exports and Imports.
The exports OF specie from the port OF
New York for the week amounted TO $500
in gold and ST. 3ss. Sc in silver. The imports
were: Gold. So. S91; silver. s76.7As; dry
goods. $3.50 7o5, general merchandise.
s41ss.e 81.