The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-06-07

bear element. which WIS rot q factor in
TIE market Al any time turing the cay ex-
c1p< as buyer. was eager 20 cover snort
Contracts before the prices should -is. De-
yond reach There was some ssrof1i-f2kirg
az Intervals b. ,ss more conseTEa,i ~ =
purpose IN selling one stock was 10 psir ire
proceeds igt0 another.
Such realizing sales az were made were
ali ABSORBED. and IN consequence the up
ward e1,srss ri PRICES went rrierrily on
from opening to close OF the days session
TIE dealings were remarkably we'll cis-
traeu.sd, Sugar showing tbs largest nuyn-
Der OK shares OF any one stock sold WIFE
$3.50 shares. The general strength OF the
MARKET was doubtless assisted by the aE-
gressive strength shown by sog1e os TIE
most active stocks, notably Sugar, the
Changers. and New Jersey Central.
Reports from Washington that a treaty
with Spain Was being considered looking
70 the regulation OF the naIursiizing 81
Spanish subjects as citizer,s CT the United
States had their effect IN helping prices
Missouri Pacific and Western Union joined
the list OF approaching values With the
fayorttes OF the bears thus shifted 10 the
bail side. there was practically no opposi-
ton left 10 the advancing tendency OF the
market.
There can be NO coub. that great rart
OF the buying Of stocks during the week
had been pre3icated uTon a conviction that
the outlook for general business Is greatly
improved and the country has turned the
corner from the depression toward i'm
proveEent. The cheerful confidence shown
by the secretary OF the treasury IN his
public utterances has made strong I'M
preston in Wall street.
The gold exports are no longer dreaded.
as IL Is seen that the depletion Of the sur
plus gold reserve IN the treasury - not
measured by the amount Of gold exports.
The decrease IN the treasury reserve since
the gold export movement began IS con-
sideFabiy less than fwo-thir6s OF the gold
exports. The growing prospects that the
country's crops are 10 be plentiful and OF
good quality is accepted as giving the best
possible assurance OF increased prosperity
and expanded business.
In the money market there has been an
Increase OF activity in the mercantile paper,
Indicating increased use Of credits In trade.
TIE Granger shares easily led the rail-
roae list. both In point OF activity and
strength. Most OF the leading stocks In
the market showed gain of point or
over. the marked exceptions being Western
Union with a fractional loss.
The bond market displayed aggressive
strength. and was considerably animated.
the sales for the Ave trading days exceed
ing saoG,0oo The improved outlook In
duced heavy purchases for foreign specu-
lative buying by domestic interests. The
dealings. Some specific developments OBJ
Grated toward decisive gains in a few is
sues The net changes show gains ranging
from to ~ per cent. which embrace all
Governments We're moderately active and
ruled strong in sympathy with The advance
In other securities.
Weekly Bank Statement.
The weekly bank statement shows the
following changes:
Increase. Decrease.
Loans .................. &4.Osl.Gso ........
.oktttS --F-...--..-.....s ~ s..-..-...
I I,ssal lenders ..''-.... ..'..... zlsSoo
Circulation -. 1855. 500
The banks now hold 81, 80 SO in excess
OF the requirements OF the 8 per cent. rule
The Financier says: The statement of
The associated banks of New York city for
the week ending June is in many ways
one OF the most re!narkabi. ever issued
Superhciaiiy and even accurately Ii indi-
Gates an expansion in business. the loans
Increasing 81 Ese1. A closer analysis Of
the statement. however. reveals some very
curious results, due almost entirely TO the
consolidation OF the two larger New York
banks. Thus. for the week ending May %
the total loans OF the sixty-fiye clearing
house institutions inclusive Of the Third
and National City banks. were STA SIS 900
an Increase OF only sa60. 500 The great in
crease OF over $500. go In the current
statement, therefore, is 10 be found In the
operation OF two banks and apparently is
capable of easy solution. For the week
ending May - the loans of the National
e cg 6a9k w ans hs Third Ta r bank
ending June they were s37 23e 500. an in
crease of s4.f&s 500. The deposits also show
2, : similar result when analyzed closely.
ire variations of the two banks account
Tor 81 sN.So OF the total expansion OF
100 reported by the sixty-seven clear
Ing house banks The deposits Of the Ma
iionai city alone are now S4s. 00n For
all that the statement thus stripped OF it's
features. seems TO show technical changes
rather than a real business expansion Il
must be said that the banks are doing a,
largely increased business.
Exports and Imports.
The imports Of specie at this port for the
week ending today were valued ~ si2n 1871
OF which s1s.lGe was gold. against $3.50 $40
last week and Sl7S lss IN the corresponding
week last year. The exports OF specie this
week were 50 0s7. s45: 81 1se. $40 was gold.
against y. A32e7s for the corresponding
week last year: dry goods $32i5 9il; gem
eral merchandise, s7,2s7,Ii9.