The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-03-07

g. -, goods and general merchandise s''-
Ths exports o, specie were: Gold. $40;
Bask Statement.
Surplus, reserve. decrease s-.ia.s25:
loans decrease SIS. 90: specie. tIcr-ase
"a. 50. legal tenders. decrease = asss''
Increase 81 30 The banks neg hold So
50. 90 in excess OF requirements. . per
cent. RUE
The FInancs.r SAYS: The statement OF
the associated banks 0f New York re-
fleets in fun the disturbing causes which
have been making for nearly three weeks
past The heavy decreases. however. COW
err a period longer than the seven DAYS
which the totals are supposed TO repre-
sent Az was outlined In this analysis
last week. the averages did not include
the losses which the banks were then
sustaining through the shipments 10 the
interior. The latest statements reveal
decrease Of $z3 1880 In deposits can be
traced through a list Of twelve Of the
larger banks ranging from 81. 90 70
0peg0 In each instance The only IN
ference Is that this money has gone 10
other institutions. and this Is further
borne out in the fact that New York ex-
change NJ ali important centers have ad-
yanced from heavy discount TO par, and
in some instances to a substantial premi-
ur. The amount shipped has been more
than sufficient TO meet legitimate trade
demands.
Al the present time the movements
seem TO have ceased. Future develop
ments OF Il political character must de-
eide whether L il 10 be resumed or whefh-
er the tide viii turn and the money again
flow to New York In view of the reve-
mens the heavy gold imports do not APP
pear a; all strange. In fact. the wonder
y that the engagements were not larger.
As might have been expected there has
been corresponding reduction in loans
and the decrease OF $i3 Sc oo is accounted
Tor by the liquidation In speculative cir
sfa nsxl - rlw
strengthen reserves. The. heavy sales OF
accumulated sterling exchange at this
center are also to be considered in this
connection But for all that the banks
lost nearly $4,000 cash. the reserve re-
duction Is only 81. l35.s25 and the excess
Is still over Sn0uo.01,. The gold coming
loss in reserves for two weeks The treas
Dry did not call the usual Union Pacific
transfers from depository banks last week
and while Kansas Pacific payments will
require within the next thirty or forty
days nearly 100000 now in banks. IL can
not be said that the outlook favore any
thing more than moderate firmness in
rates The exchange situation Is so sem
sitiye thar sudden advances are bound 10
bring additional imports and thus restore
the equilibrium. IL the DEVELOPMENTS Of
the next ten days are such that a peacea-
BILE conclusion Of our foreign complications
Is assured. the money market will proba-
bly, weaken. As IL Is. rates have gradual
ly declined from the high point reached
early last week
The Commercial Advertiser today says:
The weekly statement of the Associated
Banks. issued today. is regarded as one OF
the most remarkable in recent years.
There WAS decrease OF s23 1890 In the
ret deposits. and more than $500 90 de-
crease In the loans. The decrease In de-
posits Is the largest on record. In March,
1851 it was So. 00oGo All kinds Of reports
were circulated regarding the statement.
But as 10 the decrease In loans. IL may be
stated that the City banks. the Chase and
other large banks. refused during the
week to mark down their rate Of interest.
and many of the loans We're consequently
paid off These banks will. therefore.
show a reduction In the amount of loans
and discounts and an Increase OF cash in
hand A large amount OF money was sent
TO the country during the week. which
accounts for a considerable decline in de-
posts.
General Quotations.
Flour-Receipts 1,322 barrels: exports.
Is. 25T barrels: market dull and easy. Min
ns sss. patents s'ae1Sso; winter s'raish's'
Wheat-Receipts. 1856 bushels: exports.
.5G7 bushels. Spot easy. No. red. slo7ss
I. o. b. Options opened steady at lac ad-
vance and aft, sudden break. due part
~ TO favorable crop news, rallied and
closed at 81. osTs: May. Aoossgi .ooss.
ooi-Dull
Hops-Firm.
Coffee-Options closed dull at unchanged
prices Sales 4oo0 bags Including Nav.
ss5c Spot Rio duh No. invoice si.c
No. ] iobbing. sac: mild steady; Cordova.
sugar-Raw dun: fair refining. duh at
fi-isc: centrifugal. 9-test, 3-Isc. refined
steady. graduated. Sic; cut loaf. sac
Metals.
Pig Iron-Warrants southern, 2.s5a
filo. Northern. $40 sssf 10.
Copper-Lake. firm. brokers. sl.le.
Tin-Easy.