The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-05-10
Nlnine ,rp,.s.
NEW YORK MARKETS.
The stock Exchange.

New York, May 9-The usual covering
movement incident to the half holiday was
noted today In the stock market. There
was absolutely no news bearing on the
financial situation. but the appearance of
very moderate commission orders helped
a cheerful sentiment. The market opened
higher, but soon eased of fraction under
realizing orders The inquiry from the
shorts, however, failed to sustain prices,
and on subsequent operations some sharp
advances were scored. The absence Of for
eign selling and a slightly higher tendency
in American stocks in London were favor
ably regarded. The Industrial list fur
nished the chief movements. sharp rallies
being noted in some OF the shares which
had suffered severely In the depression
early In the week The Changers and other
leading railway shares were featureless.
The export probabilities were but lightly
touched upon. but bankers usually well in
formed look for at least one shipment OF
81. 00o. 900 by Tuesdays German steamer
erai fractional gains.
Purely financial considerations were the
important factors In shaping Wall street
sentiment during the week The with
drawal OF ssb50eao In gold from the treas
ury during the week. and the Indications
that the drafts upon the government re-
serve would probably be continued. caused
be premature, owing to the fact that the
treasury holdings OF free gold at this time
amount to Sis rs. fai. ExperieSced bank
ers contend that this reserve will be abund-
antly sufficient until the balance of trade
shall have turned In favor of the United
States. II should be recalled that the
efflux OF gold at this season Of the year is
normal. and that the gold Is simply for
warded In the settlement OF international
trade balances. At the moment the chsaper
form of remittance Is the precious metal.
Al the outset Il was believed the shipments
would be checked by a general advance To
5-32 in gold fresghts by the steamship lines.
but the action taken failed 10 stop the ex-
ports. The advance referred TO Involves
rise Of about 81 cents IN the gold point for
bills The adoption OF the gold standard
by the Russian government and the efforts
now being made to complete this mos. i'm
portant financial project have resulted in
the paymen; Of premium for the metal
forwarded 20 Germany, regardless OF ex-
change conditions In addition 20 the ont
ward movement, 10 Germany. gold was also
shipped 10 Paris
In the early dealings there was some
spirited selling for foreign and domestic
account and general material concessions
occurred. which were the more pronounced
on the International stocks and the Indus
trials. TIE railway list sagged n respons.
20 general conditions. but the iosses were
less severe than In the Industrial group
Call money rates touched per cent. toward
the end Of the week. h1, liberal offerings
sent the rate down 70 z14as per cent, the
normal quotations. The final prices re-
corded ne. losses. although sharp recoy-
cries occurred over the early lower figures
in come instances-s The safes were 7Is.7A
shares.
The bond trading today WAS duh bat firm.
The Gales were $ss 100 The market re-
acted during the week or local and foreign
selling. The speculative issues sustained
sharp declines. with the extreme losses.
however. in the active bonds. Transac-
tons we're Ss.ss41s.
Governments were active and irregular.
with the rev q generally Ender pressure.
The aggregate dealings were SGT go
w KY Berk statenenr.