The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-11-07
NEW YORK MARK ETS.


NEW YORK, Nov. 5.-The market was
dull ard sluggish throughout the short
session, bur with an unden.ahly firm I'M
dertone. closing AT best or-ces. with no dis
position to take profits after the two days
rise such as might be commonly aatics-
rated al the end OF week given over
largely 10 professional trading. The mar
kst. in fact, resisted an attempt to reduce
prices after the appearance Of t.Ie ~ Tx
statement, the attacks center.ng on local
securities. Third Avenue. Metropolitan
Street Railway. Consolidated Gas and Peo-
pies Gas all showed the effect Of the bear
attempt. but the market generally con-
tinued upward 10 the close. No effect was
produced by the action of the Spanish
peace comm ssioners In refusing the Amer
lean proposition for the disposition OF the
Philippines The speculative mind was al
most prepared for rupture IF nesota-
tons. The reassurng wor'Ls uttered last
night by the British prime minister and
the sem.-officiai statement from Paris
served to clear w apprehension or foreign
complications. The various weekly trade
reports were Oh the whole encouraging as
10 the business outlook. '.na there were
strong statements Of railroad earnings
from Oregon Short Line. Oregon Navga-
ton. 81 Louis 4 Southwestern and Flint
& Pere Marquette. Louisville & Nashville
and other roads. The demand for bonds
was very large ard we'll distributed.
There were heaNy individual blocks OF
Baltimore * Ohio 3i9s when Issued. the
Atch.son and Union Pacific 4s
The bank statement showed rather I'M
tAGrcsl-HStt tdfSt LstISASr &ii ES2@f. nGt the
fact that credits have been extended sif-
81, s9 in face Of a decline OF over s.. zoe 80
in cash reserves is convincing evidence of
the confidence felt In The money u1arke.
outlook. Since September / loans have
expanded AZ 49, $50. while cash has in
creased only Sl4 ,e9.6ssl As a consequences
the surplus reserve is but S27s 40 higher
than = was month ago. large pro-
portion 81 the loan expansion OF course
represents money liant abroad The recoy-
cry III stocks during the latter part Of the
week indicates that the selling early in
The week id not extend far outside profess
siol-al limits and for short account A dahl
wife tbs class Of professional operations.
There were various factors pending the I'M
certainty IN the speculative mind IN the
earlier part OF the week outside Of the
group 81 Industrial speclal,les which were
under violent manipulation and the deal
.Egs IN which made up the large proper
f.oE 81 the total transactions on the ex-
change. one of these factors MAS the uro-
verbal daSinc4inatina OF stock operators 70
make fresh commitments on Tia. eve of a
genera! election Another was The ;hreat-
sn.ng aspect - European political affairs
This factor was emphasized hy the news If
W efiaeSaay from China reporting ths hos
tile Preparations o. the Russian an9 Rrft-
lsh fleets and indicating ne gseas 70 NV thai
france and Russia wsFe ii ess-ops ration 10
press upon Great Britain a solution OF xssr.-
dry rexei problems Of interna tsosssf rela-
toms which would threaten ga srnraesgfa.s
embodiment or AL the powers A.spvenen-
by ne news faAi the Fasaos$a elssTtcnltv
Rad SeSG ssolS<ss as :he withdrawal -
Major MaTcnand !; also appeared tfa-
TIE s.A&rp decline in gousaAS On "Wednesday
Mas party due 20 he process known as
Borrowing from t2e markell" ~ tas