The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-12-13

count Sugar was the center Of the mar
ketss strength and the firm resistance Of
prices drove the bears 10 cover.
There was a notices bic aluggfshness OF
price movement in some OF the most
prominent shares OF the market. Sugar
was quite baoyans and rose 10 within 3
ing with net gain az Ia. It's range in
the day was 3 points Besides the tech
nicai cause OF the rise, the market was
sesd ~ 1a Sc sanasd SeNo ps , .na
preme court on Monday Ia the Nebraska
maximum freight rate case Wall street
traders in railroad securities maintain an
abiding faith that when this decision does
come Ii VIII be in favor of the railroads.
and the fact that Monday is decision day
with the supreme court has made Satur-
ever since the decision has been pending
with the court In session.
The assertions were also given consid-
Grafton that there Is . growing POSSIBLE
bills 70 authorize pooling and against
ticket scaipirg, and this added TO the
strength Of the railroads. Northern Pa
first dividend, declared yesterday by the
directors. since the reorganization OF the
company, and OF the favorable statement
ire sI.gh, recessions from the best al
the close were probably induced by the
bank statement. The large shrinkage in
the surplus Is due to the raising OF the
IN aepSsiss, but an actual 1ecrsase in cash
posts. with the large shown. are
count Of the Union ra@ 10. There
has been q movement 0ncy TO 81.
Louis and New Orleans & the week.
which probably accounts z6f the decrease
In cash.
The price Of the United States new Is
was bid up, y per cent. and of the old
u-1,s 49, 80 rat,s ba,. h.n1 -.a,.nS
as was the case last week. by the profit
taking OF professional operators on FRI
day. The manipulate OF the market
by the large interest which has embarked
during the week, and strenuous efforts
were made to keep the course OF prices
upward by vigorous support at weak
points and by melting sharp rises In In
divtdual stocks to sustain the general list.
Some OF the reports set afioat To effect
this latter purpose contradicted them
nothing could then prevent q decline in
the price OF the particular stock, with
consequent unsettling effect on the mar
ket. Thus Sugar was pushed up to 145i2
stock was certainly forthcoming, and the
declaration of only the regular dividend
drove the price down below no. Union
Pacific was persistently weak on account
ment should qualify as q bidder at tho
Kansas Pacific sale and the subsequent
request for postponement OF the sale.
The weeks returns OF railroad earn
ings have made a remarkably favora bic
showing. Railroads in the South and sew
eral in the West have shown especially
heavy increases and their stocks have
shown the largest gains.
Money has continued cheap and easily
obtainable, and there have been offerings
of Chicago money on time loans In this
market. Notwithstanding the ease of the
local money rates and In spite OF sharp
stiff ming Of discount rates in London and
Berlin. the foreign exchange market has
shown increasing weakness. Actual
rates for sterling exchanges have fallen
i2c during the week, due to the Offering
OF bills against grain and cotton and 10
an abatement Of the investment demand
for long sterling. Chicago credits are re-
ported to be- loaned In Berlin and sss per
cent. to the extent Of several million dol
lars. The abundance of grain bills. which
has served to weaken exchange, Is said TO
be due 10 the operations of the bull clique
In pushing exports OF wheat.
The strength and activity OF the bond
market during the week have been even
more remarkable than In the stock mar
ket. High-grade bonds have been thor
oughiy gone over and lifted almost to pro-
hihitive prices. the government bonds ris-
shifted to middle-grade bonds. which have
sues have moved In some proportion. but
new As have been bid UP during the week
the old Il coupon Il.