The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-10-11
Mining stocks.
NEW YORK MARKETS.


The stock Exchange
NEW YORK. oct. a-Ths bears renewed
their raid on the market 70 s0eh so0o @S-
count that few stocks have escaped wlts
less than u point net loss. IAe course CT
ths market yesterday, - he fAee q extra
ordinary dul!ness. aas led Ma-s - SUI
pose taAt the bears campaign lad come %
an end and that me GnarAet wo441 EFoaA-
bly sink inGo Illumination for a llz4is- ALs
usual end Of the week covering 81 s4aot.
contracts was expected 10 st1ASA RI.ees
slightly. quite the contrary oceAKtsN-
Prices ia improve fraction IN lie AIs@
hour On very Lsnt volume o. sSe--Ass;
Weakness developed IL Chicago t5as a.id
cnecked the rise The room traders Sooa
afterwards detected selling by house MIA
Washington connections. and tnS Ds~IS
seized upon this as proof OF INSIDE latei llA-
ton OF = mysterious some hing pending n
Washington Lhat might play a@EUc Via
values when il becomes known. NaAt the
mysterious something was. u As hoL as
closed. The stock market Is pec94iAEiy srL.-
sitive 10 limitations from " 4SA4AsA9h a.
this tine, OWING 10 a co8E.c.l9a "a many
minds that Il is only question o. IIns
rupture with Spain. Much stress IS lald
also By the traders IN sock upon the Pe44d-
Ing decision or tile s4FI eng co141 slo'4 "a
Nebraska maximum freight tate cas-, @A1
the ease against the joint LAIlac ass'NAA-
ton. .-, -
supporting orders and the aggressive snort
selling By the bears led 20 rapid aeeAAS
IN Lght tTansac lions. Only t~0 stochs II
the Isl show sales as hlgn as 1gs9S SAi4l =.
These are CalC4so G4s and b4LL.4e -:
CHICAGO Gas, Omaha, Manhattan, MISSOURI
Pacific and Burlington were eoilsplGAo-s
II the decline. Consolidated Gas hEctaAted
ia It's Characteristic way, breaking IoAE-
teen points az one tine, but ena4As Nath
. recovery Of tRree points. There we're
slight EecoVer!es in some SOCKS Just az Sae
close. but most Of TIE stocks closed a. tAs
lowest. the prevailing tone being very
weak.
Probably q superficial view OF the weekly
statement Of tbs New YORK clearing house
banks had something 70 do slsA to9sE
selling movement OF SOCKS Inc PROBES
si0naI trader usually accepts decrease u
the surplus reserve as a speciflc Aat1loAiao
70 sell. Today's decrease Is S-,st,su n mat
item. which Was, IN fact, some Lhlhs o. =
surprise II view OF the rather strenuous
efforts BY the banks "a me lasS Two MesAs
20 prevent further s2FlnkAse N tne3r sur
plus. But the sinai! decrease II loans LIS
week. 81, 80 indicates that the oAnAlAs
authorities view with eq9sLllHaIty ne "s-
cline IN their reserve surplus. conl1eh[ n
the STRENGTHENING force OF the S,taeg
gold now IN transit from England and
The gold arrivals OF the week are re-
fected Ia an increase IL specie Of Sl.2sd. -,
but are more than Offset by the decrease n
legal tenders OF 81, %, ~ Tie demand 10.
legal tenders is very large ard the otst
efforts Of the banks and me United slA1es
treasury are not equal 70 fH4Iy pFoF44e
supply The New York SUBJ treasury mas
been obliged 10 refuse 10 supp! 1sAAA tSi-
ders IN return FOR gold, except Tor the te4e-
eraDhI, transfer of currency 70 other sub
treasury points. The New York aanAs cave
been settling their balances al the clear
ing house during the week IN gold %
large extent and the precicton = made
THAI the payments OF Customs aaues -
soon b. made IN gold. Chicago banks are
reported also 20 be presenting god A. me
SUP treasury there. with Request Ter 4egAI
tenders. and the treasury a. washington
Is beginning 70 find i,seli EMBARRASSED 20
supply all the demands on T.
since September Il the decrease "A Legal
tenders In the New York bank reserve has
amounted 70 s.. Sl0,9 r. and the specie IN
cease nearly 81 50, 90 in the same time.
Notwithstanding the large exchange 81 spe-
Gle FOR isgal tenders a. the sao-sT aslfy.
The ample proportions OF the co1nJrys
gold reserve has doubtless had much 70 10
with the Import movement or gold. @AicH
was fairly inaugurated the day BE-
fore, the total amount q so.d no" n lfah-
sit amounting 70 &A6s6..s0
The sffffenIng Of exchange rates. couse-
quent upon me purchase cf oills agalESl
these imports, Is believed 70 y o1t tenn
porary, and The movement OK gold - eX-
pectea 20 continue steadily FOR some line
u come. The effect ca the money market
OF the gold engagements has been 20 TN
part a directly easier tone, time money de-
Ching 20 per cent. Tor SKY days ana up
10 4 per cent. for four months snd longer
periods Outside buyers 81 c0mxBercial pa
! per have been IA the New York mar kei
! during The week. and The supply o. paper
has been increasing IN volume, ana rates
| have oeea easy a. 41z95 Per cent for prime
me stock market has been siagalsriy an
affected hy the beginning o. The gold move
uent. which almost always has marked
sentimental effect on prices. The resist
snce Of the market 10 TIE effect q heavy
slump IN Chicago Gas on Thursday and
the hardening tendency on Friday on the
large shipments OF god announced d that
date ed TO the slppo>sisioR taas me Esae-
ton Yves al an end. AMI d rally ensured.
But todays market las comp4Aseiy ostsd
this expectation The market naS been
a ffH. a
movements Of special stocks falling % have
any marked effect On the market.
Prices 81 baaas were relatively nrms
some snail gains ns!ug s1owu. Transac-
tlons were hs1t compared win re Tecezi
averages T0sAl sales were ss.0a Ns.
Government bonds are 49, A.saeT' ne
during ne week 81 l2sA, 4 new E-gA record
Bank Statement.
~. Flnanclsr SAYS;
re sfass,rens OF ire associated sz1ks 81
New York Tor ne week eioins oct99eT
shows A material reduction IN cas1. ne
reserve having decreased over - $50, a.
o. which apparently Hl8s st1e 20 ne AZ
lerlar. TIE money lost seems 80 reject
s.~.sta1 ehfunnersG although the statement
3. eou,plics sd by the adj 1-sru1eGt or Oefo-
Der settlements. Whtc1 HaFe aeel gems N
during me seek. The deere 49, IL lcAns -
70 5e attria1fsd 20 stE'ck exen&1Ee 444ll-4-
500 Sf-ra ne market far c1u-EgleEc.s
psue~ ara rlnne loans nss been UuTe ard
i more active % late za1 good ae4l O ne@
Sargse banks in fact. have WfeheTaS1 tzsiT
caU uonay for THE pZrposs o. p1if11s X
tuts meTca a-l3e payer. 43e Fs1-e-9ta 2
fra ssarr 1-.-s therefore. represents r2teer
xtealIy 8 better business eorct ilon-
The aznks Apparently save accepted pre-
s-sl.t-sy ytt=s Tor gns ra1suun1 ard are AK
frx aegaztAGs q them CO me t2sczy iAat
49, nPsvv gold Imports VII prevent AssS-
fhi~r IKE scringeacy = the market TIE
has,syy gsas.ressa - In re reserve vas M
}o.-seg8-far nlt 10 - 20 - deserved tfszAs
sra-ss recsznls are aars4sy s@gpIS l1g tas
heavy sra.n Z nzoDzy Incidental - t1e Il
/ terrier movement
Th~ gaIa in gaia wss made " from re-
-e.aes a. rs rorr ard fTsrs san EE@Se1scc,
49, r.s.rrterze.ed - part the Aoss IA legal
t4rE=~s which Ere banks T9G&.E. As k&ss
sz4es@ row o. t1E Uats- nd e1GAze4 Eer
~ ns7.erf fen Euro~as s1aosgDes 80 g. $50 -,
sgrfEsr Uses q cash All - fepsef4l4Gel
ard me gsz1lnak 1&ecG1ss 1a~c9 oTsEassF-
shs international s1lfEl1E o. t~a1s - 10y
yrors.~ ausUela1seE-sF z1E sne Tsasne = 80
/ - tsternel-e3 largely ~ u2Eey cris-4 tlssta&
r.rses15lrz ha-e- K&Else tEsTe VII - ID
se~sssrs -ser~snr 20