The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-09-17


distribution al most Western markets and
ssIsnt Improvement at Eastern es-tsrs
sAs-s demand has been slower 10 material
re. enlarged demand f0r oTss9s.1.fs. IN
steasFG railroad earnings. not entirely cae
% tae swesllIg movement % grain 10 mar
Aet A-s@ea iTs&iseSl IS stEit behind last year
Tecosos; Rank clesrfsgs increased ever last
S~es aid oFe- ali corresponding weeks sx-
cefs eIe year ago waeT speculation was
vet! ScIYes rather better than expected
s&FsEl1tflSgst crop reports and charging sx-
soss .. american manufacturers are al
FEATURES tending TO make the trade s!tsix-
,lo2 az present meta nse one Crop i'm
raiTcaens n Angus was a0y unusual nor
aaeAascteas and proves - have been less
.AAn fsaFed. ard avef3 &c conditions Of
eaalng crops notably wheat corn. cotton
All potatoes, are better than one year go.
he improved aenaD2 tor OR wheat ana
hour perhaps has s.G 4 tendency 20 shade
early estimates % tle worlds ~hsar crop
tins year, some figures being as low as @.sga.-
-" bushels. " alfS larger than Sass year IL
- sssl below thar CT 1924. This. vita the
lew state % the worlds waeas supplies ard
tse slower than expected movement from
American farmers hands 10 leading mar
kefs las Increased The premium on cash
wheat, WITH the result - advancing prices.
The continued rise in ocean sresg.t rates -
taken 10 confirm reports OF recent large
export salts. The quiete- appearance o. me
iron trade IS confined strictly 10 new bust
ness, because mills are eth fully provided
with orders. aTsI in spite % "a Sigh; ia
crease OF production stocks OF pig iron are
s.i,at.rFJ pointing 10 heavy eonsHmpave
The heavy export demand FOR Southern
iron noted Gre weak ago still continues.
ne wholesale demand FOR lumber coasin-
ses IN spite Of some complaint from re-
taiefs Export trade as A whole continues
very satisfactory. tie August total sweisea
by large shipments Of cosioa, provisions
and manufactured goods. being generally
larger than August one year ago by ~ per
cent, Notwithstanding a heavy increase In
shipments % arsadsiuffs- Import trade a.
YET SHOWS ne particular expansion, and fer
TIE eight mouths our experts are 50 per
trade features are rev and represent
ed chiefly in the textile manufacturing
trades, but here IL Is proposed that the un-
deniaby large distribution OF dry goods
this fall Will soon be reduced IN improved
demand.
Wheat shipments for the week reflect an
ENLARGED foreign demand for American
wheat and -four. aggtega;ing 5.6s5 81 bush
els as against ), ie0, stS bushels last week.
o.lss.9N bushels In the responding week
one year ago. 5.S66.5s6 bushels In lsss, e,aSo.-
~ bushels IN 1898. and Si6ssSI bushels IN
1894 Since July | this year exports OF
wheat aggregate S6.ies0sl bushels, against
IA. go. re bushels last year.
Corn exports for the week are consider
ABLY smaller than last weeks heavy total,
agsregatIng 2.S3I,ts5 bushels. against 3. S6s.-
sos bushels last week. S.s1l ,Ua2 bushels in
this week Of 1887. 2.295. 81 bushels In 1870,
a..sS bushels Ii 1885 and 1891 bushes
cern aggregate -, '3s.S'5 bushels. against
A.at. .Sis bushels during the corresponding
period last year.
Business failures for the week number
l'3. against ii2 last week, i69 in this week
year ago, slo in 1895 and 2lS in 1895.
Canadian faiiuTes for the week number
-, against Il last week. 30 in this week
iss se"F age Il !" N" and 1884, and ID in
Bradstreet's Financial Review.
Bradstrcets financial review tomorrow
viii say
Prices have oentered the changing opin-
ION OF the speculative market as TO the
prospects OF disturbance In money. In
the early part Of the week the bad bank
statement of last Saturday and thr ex-
pectation that the continued drawing Of
money IN the treasury would result In a
contraction OF loans caused more or less
liquidation by builish spectators and gave
an opportunity for bear operators TO attack
prices. The failure Of interest rates 10 adj
vance to figures indicative OF a scarcity
OF funds tended. however to throw doubts
on this view. while ths decline OF ex-
chanEe. the engagement OF 81 10000 gold
~ London for import, he Increase by the
New York banks Of their government de-
posts and the fact thar loans were being
shifted from New York TO other cities con-
tr!buted To create an easier feeling about
the money market, which on Wednesday
and Thursday caused sharp rally IN
pticeS. on Friday the rise continued and
was helped by the engagement for import
OF about Sl.pH.tA9 more gold. In the latter
part or the day. however the exceptional
weakness Of American Sugar stock brought
about general reaction. ThS attitude
o! the secretary Of the treasury IN deciin-
ing 10 consider that the New York money
market exhibited symptoms Of pressure
Indicative OF serious derangement OF busl-
ness. or calling for action by the treasury.
had no doubt "A share IN bringing the
stock market 10 It's senses. when specu-
latofs were Inclined to believe in the pos
stbliity az a sharp furry IN ;ndustriais.
This has not occurred ard the highest
quotation for cali loans has been Der
cent, with the bulk ~ Wall street borrow
ings on securities at fully per cent low
or. Besides the fact that an advance Of
rates would bring gold from abroad prob
ably IN large amounts. II IS recognized that
the heavy payments FOR the new govern
ment bonds are nearly finished and that
an extremely uufavorable bank statement
today s unlikely. This has led 40 "a cover
ing Of the traders short sales put out
early in The week and mas probably In
duce9 more or less repurchasing by inter-
ests which sold stocks on fear OF tight
money. while Il seems also 10 have led 10
renewed support by cii1ues and large oper-
ators n their Spec.atties.
Loudon's action In ocr market has been
feature. Speculation there was depress-
II lay the renewed political complications
in Europe, IN crete and in the Soudan.
Ncv*rths less. a the decline here. there
was foreign buying. although the money
markets abroad ware sitter on the fear of
gold outflow from the country Later on
Americans became the feature IN London
ana the buying Of stocks here for foreign
account was moderately large, particular
attention being paid 20 the Pacific stocks
The coming restoration of passenger rates
caaset by the Canadian Pacific surrender
az claims 10 diGerent!ais has apparently
produced greater impression abroad
than. under recent circumstance, IL has
been possible for y 20 90 hare.
bank tieeriugs.
The following table, compiled by Brad
street shows the rank cisaFings at eighty
So.
Is with the perez ntage Of increafse and
decrease as compsted with the correspond
ing week last year.
Inc. Dec
NaN YORK S Si} 80