The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-24
Silver aoa $3.50. sss.i Drafts-Ssxht - :.
Mex. dol ..s3s.A5i telegraph
NEW YORK MARKETS.
The stock Exchange.

New York. Aug. 1.-The stock market
today was dun for even a half holiday
The total dealings amounted only to s6,0e9
shares. Three stocks. Sugar. Western
Union and st. Paul. figured for one-third
OF the transactions. The trading was
entirely professional. and the movement
was governed by several important In
fnences. the chief one being the bank
statement. London operations were tri-
ding. Western Union was prominent and
after an initial gain of nearly per cent,
on runors OF the absorption Of the Bell
Telephone Company. lost nearly all "
the Improvement on the Official denial
OF the story. The stock subsequently rose
10 the early high figure, 75a, shading off
slightly at the close. The speculation
hung inactive until the publication Of the
statement OF the averages OF the asso-
cfated banks. The exhibit was a decided
surprise TO the street generally, as IL
showed only an Insignificant loss in re-
serves. in the face Of expectations OF a de-
crease of sS.es. 90 to s5eo0.eno A loss OF
So. e95. 100 n deposits and contraction Of
$s,sS4,7O in loans were the unfavorable
features OF the statement while the small
decrease In the reserve WAS partly attrib-
uted TO gains BY the banks through the
sub-treSSgry operations. This gain offset
the shipments OF currency to tho Interior.
The market stirened TO the extent OF
sharp fractions in the last half-hour. SUI
gar and Burlington exceptionally rising
rs per cent The closing was strong at
fractional gains. Speculation during the
week was marked by decided irregulafity.
ard was dominated by the professional
dealers to a certain extent. The bulls
we're encouraged at the outset by a ia
voraDie international trade balance and
by the annual report OF the Northwest
ern. which was even more favorable than
had been anticipated. together with rapid
successive declines in the exchange mar
ket 20 a point permitting the engagement
OF s.. 90 In gold abroad for import to
this country. These Developments occa-
stoned improvements In prices all around.
hut later the speculation was clouded by
various depressing factors. These In
cluded distressing reports as to the con-
ditions OF affairs in mercantile circles, an
advance in call money rates to an ex-
trer1e per cent. rumors Of an impend-
ing issue OF clearing house certificates.
and finally an application for certificates
by leading bank. presumably to make
tutlons- The bears Improved the opportu-
mites afforded and caused hysterfcai
condition OF public sentiment. Rumors OF
acute financial erabaFFa sSrnent I'm various
quarters we're circulated and predictions
were made that the surplus reserve OF
TIA city hanks would be cut IN half By
the end o. the week. The fat reception
% tire New York city loan was an un-
fsverabTs Incident ard London was a
fairly steady seller OF American securi-
ties throughout In the later dealings
sterling exchange stiTeneI slightly and
again receded a small fraction The net
changes IN prices showed losses generally
IN the more important shares with a
few exceptions. notably In Sugar which
left or Ia per cent higher.
The features % the bond market were
chiefly dizziness and wide fluctuations IN
the inactive issues The tendency OF
prices was toward a lower basis with
some pronounced ret declines in speeula-
tive bonds
Government bonds we're shaded slight
". or sales % slGsen Silver certificates
displayed acute weakness 10 the early
trading, including z fau ~ per cent. 10
q. with later rally 20 ga. The trans
sections were ST. ore
Exports and Tmportz
TIE exports az specie from me rort Of
SeH york for sse week amounted 10 g GO
Il gold ara g. 1ss sss IA silver. The imports
were. God. So ssl. silver. s7g58. dry
goois. S-iS.s&. genera. merchandise,
s3IsS@7.
weekly bank Statement.
TIE weekly statement q tie associated
Banks s5eNs:
Reserve -..-..--..-.-..-- ----...- IL -
Leans ................--.- ..~.-.-. $50 %
cN@cse ->s~--.*-~-.+s.-.+- ...-.-.. 6 An
Legal rsnGs-s --...-.-ss .-----.- 9E4 80
Asessossts ..--<+s-~ss.ss%, Co.,. S.as5 10
CirellAAtE01 .--.s-.~---.-- Sas1esa $500.
Tas banks now bod 8 -. $50 IN excess
81 re Requirements
The Finaneser says thss week. The
statement g TIE clearing house hanks
cf New York for the week ending August
= eaus1 a. agreestle sursrsse aFke- the
Ek0cEny forecasts wsicG naa bean made
a. 20 he decrease 81 TIE reserve. TIE
zesual decrease II TIRE reserve ass orly
SEs@A The heavzsst eaarge was IN
g. pests. wAscA VS. tse iewtnai eject Of
the confraCfsoa n tosns ard the with
STA~Sl & funds - gSe West SID ssrith
TIE movement toward frsss tao points
car ti7u3rx 81 EgsasFu g1fs5e-1 volume The
cxnsiua@8 6srzans Ter Eaoney srasa thsse
a alters % coarse mskes d necessary fer
ne Fsznkx 80 sAt4 IA outstanding leans
ARD tae statement Saaws thAe th5x =
y BAT Rr@vezre6 rsueh heavier 'loss In
reserves In fact the position % tAs
hankS Is as sxen@ a. 4 waz enc week