The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-02-08
THE BULLS On TOP.
The Heavy Bond Bids Have
Strengthened All Markets.
1T is a MATTER or SENTIMENT.
For the Gold VIII Run Down Again,
Conditions Being Unchanged
Failures still Numerous.

New York. Feb T-BFadstreet's review
OF the New York stock market says. Pro
fessioual spectators seem 10 have over
discounted the successful result Of the
gold bond subscription. Wasle no one IN
Wall street or out Of * realized thai the
total applicat tons would reach the stu
psnG0us figures they actually did. X was
known b. the end Of last week that the
loan would be largely oyer-subscrlb bed The
feeling OF aston. sbment, mingled with
hopeful feelings for the future. which found
expression when the extent or the loan
was announced has created 5uiiish sea-
unent and produced some outside spscu-
lasfge buying OF stocks. Nevertheless. the
ball cEaues and traders who had purchased
securities IN anticipation OF beng able %
sell them on the market created by the sue
cess or the bond issue realized prorts on A
larger mass OF stocks Ghan the market was
able 70 digest. Prices rose during the early
part OF the week, and there was a some
what excited further advance on Wednes-
day afternoon. when the outcome Of The
subscription was first known. On Thurs
day. however. the market was held IN
check by the realizing sales above refer
red 10 and the process seemed TO be siill
incomplete on Friday. At the same time.
during the narrow and professional char
scter Of the recent Improvement, the mar
ket has displayed great steadlness and an
ability 70 take heavy outpour OF long
stock. which argues well for lis future
stability. The market on Friday showed
more OF a disposition 10 advance, but
the advances were checked by renewed
realizing and short selling before the close.
Brad-trect'- Review of Trade.
Bradstreet's tomorrow win say: Gen.
eral trade awaited the results OF subscrip-
tons TO the bond issue. and the senti-
n ntal effects of the unexpectedly favor
nh nsfs kay boo fgr q or mr.
and improvement. Additional favorable
influences are found in heavier bank clear
ings. continued firmness OF prices, sus-
talned demand for iron and steel, and the
announcement from ST. Paul. Milwaukee,
Omaha and Des MoInes Of a revival in bus
mess with jobbers in staple lines. At the
East. Baltimore and Pittsburg report IA
vorable trade conditions. At the South.
gains in wholesale lines are announced
from Nashville Memphis. Atlanta and Biz
minghaIn. The reverse includes the de-
pressing Influences OF stormy and wet
weather. Indifference Of consumers Ct do
nestle wooden dress goods; renewed sales
OF print cloths and other makes OF cotton
goods only after reaction in prices: con-
tinuance OF extreme conservatism in al
most all lines, and the fact that the relief
OF the treasury by the heavy oVersub-
scription to the bond issue, In the absence
OF sound currency legislation by congress,
will probably prove only temporary de-
vice TO maintain the gold reserve.
General trade at Chicago. St. Louis. Buff
falo and Philadelphia shows no real gains
from the preceding week. when the sitla-
ton was quiet even to dizziness. and the
outlook unsa tisfactory.
Exports OF wheat-fiour included as
wheat-from both coasts OF the United
States this week amount to 29V7, 900 BUSH
els against 1850 900 last week.
The total number of business failures
throughout the United States. as reported
To Bradstreets, IL considerably smaller
this week, 333. as contrssted with 800 last
week 23 In the week one year ago, sec in
the first week OF February. 1894, 223 In 1898,
and Pa in 1892.
buns Review of Trade.
r. G.. Dun's & Co.'S weekly review OF
trade viii say: The wonderful success OF
the popular loan alters the face Of events.
The Influence of this event upon all manu-
featuring and trade cannot be lightly esti-
mated. II stripes the silver agitation OF all
It's power 20 hurt. 1t puts the treasury on
A safe basis for the time. whether con-
gress does anything useful or not. II noti-
fes foreign nations that the United States
have power well as purpose. II unlocks
millions OF gold which have been gathered
IN preparation, brings directly several mil
lions OF gold from Europe. and stimulates
American securities.
With such a revolution in business sud
denly effected. the customary records OF
the past week and month are of less value
than usual But there have been signs OF
Improvement In the iron manufacture al
though the average OF prices is nearly per
cent. lower this week, for orders have beers
booked for nearly $4,000 tons Of rails this
year. against total deliveries IN 1895 Of l.
0a.eo tons, and orders for wire nails are
stimulated by a decision 10 advance
the price again on March l. There Is also
a more active demand for plates and sheets.
Southern competition lowers coke iron at
Chicago and prevents an advance at the
East. while sales OF last years spectators
In the Pittsburg region stil depress Bes-
semer. The ore pool Is expected to fix the
price for the year at 81 or possibly $3.50
and the coke pool stili reduces the output
Speculation has raised copper 10 l0i. cents.
with sales % 6,t109a pounds. tin TO 1872
cents, and lead 10 $780, with large exports
Of Mexican.
Speculation tn wheat has again lifted
prices. although Western receipts have
been ? $40 a45 for the week against 7a2 al
last year. and for the year thus far l5.O63.-
Es5 bushels against s 03s. s33 last year At
iRntic exports have been Increasing
though not in the same proportion. amount
ing for the week just concluded 10 l. as asS
bushels against l.s5s e55 last year The
speculative market. largely influenced bv
rumors - injury 10 the coming crop and
by foreign advires and prices. advanced 81.
cents FER cash and "a cents for Nav
Failures for the week have been gg8 In the
United States. against 81 last year, and gs
n Canada, against 81 last year.
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