The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-11-29

NEW YORK MARKETS.


NEW YORK, Nov. 27.--The stock market
awoke from Its iethargy today and did a
days short session. The volume Of deal
ings and the general movement In prices
were greater than have been seen IN sew
board room door Of one OF The principal OPP
orators during the summer rise In prices.
and the distribution OF large orders for his
cause OF the rise. The resistance OF the
market during the. week To pressure and
tho gradual hardening OF prices In spite OF
the duilness. had laid tie foundations for
an advance In prices under any confident
leadership.
Sugar was strong and easily led the list.
with an advance OF lss. on reports that a
decision from the treasury department
would soon be Forthcoming applying to tins
counseryaifng duty clauses TO Dutch re-
The bank statement was abou, what was
expected. Although there was an actual
Increase in cash reserve OF 81. 3ss, 10. the le-
gal reserve was raised more than that
amount. owing to the tremendous Increase
of SIC. IA. 100 in the deposits. The condition
OF the money market presents prospects
that have been OF greater interest all wseE
than the stock market. The heavy Union
Pacific payment made not the slightest I'm
preston on the market.
The resumption OF business activity IN ths
South. with the rssnoyal Of the yellow fever
notable demand FOR money from tina. quar-
ter. The West Il sending money to New
YORK bank vaults that region being plsn-
of OF long standing obligations. Chicago
banks are reported 10 have several million
dollars loaned 10 Germany. as the result OF
grain bills purchased In that center, which
have not yet been drawn against by ex-
cnange bills.
This operation involves the purchase OF
long exchange TO hold until maturity. and
New York banks have loan money abroad
by q similar operation This doubtless ac-
counts In part for the fi7nnsss OF the for
<sfsx @tzns~ 1afA - -.
ued heavy exports OF food gtufys The for
eign exchanges market has probably felt
the effect Of the weeks sales OF American
securities for London account In this mar
ke,.. London has sold quite steadily OF the
stocks which make up the bulk of ordinary
aroftrage operations But there also have
bonds By that center. owing 70 the high
range OF prices prevailing here. Remit
tances 10 pay for these have helped 10 keep
the exchange market firm. The stock mar
ket has offered almost no feature nf inter-
est during the week. AZ a resaf Of foday's
strength the list generally shows small net
gaina
Th> Northern Pacific stocks have been
strong on talk OF a dividend for the pre-
ferrrd. and the preferrs5 b si1 higher. SD
gar Is M > points on the week
TIE feature OF the bond market has tasrs
the large demand ana neszsr offerings on
high-Erade bonds. The market has not bear
notably sctivr. but prices are generally
slightly higher. Total sales were s. 30 80
United States old Is registered werr 4
higher BID: the old IS coupon ard the rea
- coupon Y higher bid. and taa Sc x lower
BID.
Bank Statement.
The weekly bank statement.
Surplus reserve, decrease. $50 ~. loans
Increase. ST. lss5. 80, specie. increase ksse :
30: legal tenders increase, szs2s gee d.
posts increase. s5ssas circulation. in
crease. sisi. so. Basks now hold 81 10 rs
In excess OF the q per cent. requirement
The F5nArcfsr says:
THE changes In the totals shown by tie
bank statement for the week ending No
venb@r a. are connected entirely with the
transfer % Union Pacific funds 10 he sew
eral csposisary banks. and DO nos tn the
least reflect Ire advance IN she h1sfnes4
conditions. which are generally ASSOCIATED
with heavy loan or deposit Increases Tns
statement EGea not balance bat the ors
item q HEB affords clue 20 t1s real rsozS-
tion Of the Different. institutions IS found
"a shs Rsf8 OF cash during The week This
IL larger than reports Ds some Of 20. lead
ing banks had Indicated aus the Tow OF
money 10 this center from the interior Dur
ing the week. Il - known, has exceeded
shs outward Increment by at Least two
million 6olfarH TIE Increase IA 6srsassts L.
OF co1rse. accounted Tor by the check given
BY the Union Pacific reorganization co<a-
ra.t.se 10 TIE National City bank ana sy
e distributed bro rata zzDorR the different
depository kzSttuzi.SzA Adding tho actual