The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-12-06
NEW YORK MARKETS,
The stock Exchange.

NEW YORK: Dec. 4-Today's stock
market was left almost entirely to the
room traders, and they seemed disposed
to depress prices during the early part OF
the session by short sales Their efforts
met with little response, and they covered
before the close, bringing prices in most
cases slightly above yesterdays close. The
movement OF prizes was. however, trivial
throughout the day, except in a few spe-
clad eases. Manhattan reflected the anx-
iety OF those who had bought yesterday
under the mistaken idea that the under
ground rapid transit plan had been declar-
ed unconstitutional. Heavy offerings at
the lowest of the day. The close was near
the low point, after fun recovery in the
meantime. All sorts OF rumors were aiioat
regarding the stock and the dealings in
IL Were al time quite feverlsh.
Sugar was traded in for the most part
at level below yesterdays close, the
supply OF stocks being apparently larger.
Chicago Northwestern showed degree
of strength on account of its large per-
ccntage Of Increase Of earnings for the
fourth week in November. Susquehanna
4 Western continued 10 rise in price, and
Delaware * Hudson. of the coal group,
sympath!Zed, but New Jersey Central and
Reading stocks. on the other hand. were
heavy. Today's news, so far as il was
earded. was favorable, statements OF the
fourth weeks earnings that were pub
listed showing large earnings and hand
The increase In cash was not sufficient
10 cover the increased requirements OF the
legal reserve caused by the heavy increase
III deposits. and the consequence Is still
further declines IN the surplus reserve
There has been nothing In the require
nerts OF the money market during the
s. i765o in loans. and II is probably due
10 borrowing on exchange. This Is I, part
az the somewhat complicated operation
the simple result Of which L. TO leave a,
interest abroad money which has aceu-
muiated there on credit instead of draw
ing on IL by exchange bills. II Is estimated
that over slo,tpeoe0 of foreign exchange has
Gfen allowed 10 accumulate in this city
during the week. and tho fact that prices
Of exchange have not been materially
lowered shows that ]; Is withheld and the
money loaned abroad. There is a continu-
ancr. also. OF investment buying OF long
exchange. IN anticipation % the usual re-
turn movement OF trade after the first II
the year Although the imports Of general
merchandise at this pert for the week show
Il sharp falling OF. the receipts a the GUS
tom house Indicate a growth OF the import
movement during November, which buy
ers OF long exchange expect will increase
still further as the stocks are worked of
which were imported in anticipation OF Tie
tariff law.
Unless the import movement OF general
merchandise shall become very heavy ia
Tie next few months. long exchange mus,
prove very poor Investment, n view 81
the enormous oatgo Of merchandise Of the
last few months. London asiVices during
The week have shown very heavy Au7.r-
!car demand In that market Tor hlen-
demand has existed IN the New York
market. With very limited supply, which
was largely furnished for foreign account
a. well In London This would I.a.si.
cafe A further heavy transfer To this S5sa
OF the water OF the highest priced railroad
securities in sufficient volume 20 hsve
quite ST sppreclabls effect upon the ex-
change balance.
The activity OK the bond market has been
\ feature o. the stock exchange here III
week and the total dealing II bonds On
Thursday were % a par value Of nearly
81 10 esst The activity OF THE stock mar.
ke. has been spAsmedlc. The week onene,3
with evidences OF an awkward outside an
tere<t in thu market. due 20 the sharp adj
vaFaces OF Friday ard Saturday previous
Hut tie buyers CO that period took os>s,a-
scr, "a realize on Monday ard fumes
prices backward again Tuesday and Wed
yVs<tay the butts loaded I'D again ard
prices slowly hardened. Thursday orenes
with great animation and rising prices b,f
while the animation co1tinuc4, ehe r9~4
soon cane 70 a stop, aud soon pr3ces were
falling quickly ana sharply. This second
realizing movement By the powerful cper-
agnrs whose resources enabled them 10
manipulate ths prizes threw the market
alto Stzgrattef. .rngn which T. showed -
ssgu OF recovery StEhsg Friday Or TODAY
The reactions have ROW. however .. irsa.s
ous all gains. asa ere week Shove. r,ac
gains between and . points ~ rsauv lead
Ing shares and exceeding poiGts u Soma.