The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-10-10
NEW YORK MARKETS.
The Stock E.Aehuu Ec.


% mind on The sagt Of traders The open
3cg tendency was downward. affected by
q break e "a pasnf IN BROOKLYN lTans.l ana
continued pressure on Northern Pacific.
The foreign markets we're unsettled hy the
political outl0-k in France. tight money III
Berlin and the public agitation IN Sua.n
for the payment u interest on government
bonds III pe@etas instead OF francs. thlS
aa3 SGnle influence Oh the opening mere.
although Americans had been supported IN
London on orders from NewTork. Strength
- Tobacco, which tore =. per cent, sup
FtiH'fs Itetl by support u Brooklyn Transit.
psOp.e's Gas aad Manhattan and cover
sag or shorts IN S3gar. check q he del *.
TteFe a rally fn Northern F4ctnc.
which drove tie shorts % cover and which
was accompanied by yumof That conflict
iuE views % the interests dom fa % II the
party had been adjusted. The professional
traders then took ihc long side o. the mar
kef for a turn ana there vas \ general COW
eFlnS of shorts. The appearance OF the
bank statement added 10 The buiiish feel
rig, as II Was fully ss favorable "a could
be expected. Although the reserve require
nents had been raised by s. l65,6 $50 by rea-
son Of the larger deposits the increase Of
S.sHb, lU In cash left the surplus reserve
s. ils 40 higher. The expansion % loans
though less than q million dollars. indI-
Gates turn In the tide Of the money mar
since September = The loan contraction
from that Date up 10 last Saturdays return
was $26. 6sd it-l Even for .azJ week, il viii
~. r"ine m hered. the gan IN cash reserve
ton OF k5.5s9. go
THIS week the tFengthening Of the re.
serve has not prevented an extension OF
credit 10 the extent OF SSG1. SsI II Il Hot
improbable rs1at the nearly developed in
Vestment in long sterling exchange for the
purpose or lending credits abroad figures
Expectations that the downward tendency
Of stocks would come 70 an end this week
were disappointed though there was under
lying confidence.
Most % he cEnbarrassmeuts which have
baen cited 10 explain the failure Of prices to
rise have beam removed Money * working
steadily to an easier basis and the process
Of loan contraction ana consequent forced
liquidation OF securities has come 10 an end
The government has collected practicaN"
ali of the s2tnba 9o bonds subscribed ana
has commenced lts disbursement by the pay
ment % Obligations en- account IF the war
Imports Of gold 10 the amount o: s2oe0
Geo have brought adequate relief and have
ceased while the crt nued accumulation OF
credits abroad Is evidently being LEFT there
u interest as reflected n the investment in
long sterling" In incr, ass. Appr tensions
that the holding hack % winter wheat fer
higher pr cts rfuud result in decreased
earnings for the railroads at compared with
last years high level have heer ais~!gated
by the large earnings shown In the traffic
statements az s Paul. Northern Pacific
ana other important grain carrying roads
showing the large growth n general iusi-
ness u spite ~ the decreased grair move
ment. TIE large and persistent foreign de-
4
prices with the markets free from large
speculative manipulation. give Increasing
ground Tor confidence In 4 profitable dLspo-
eitiQn % she cOuutry'S crop But I'm splfn
ot the mum -rous favorable factors in the
situat on prices ~ stocks have ia ;e3 10 a4-
NanC" materially. one reason has been the
unsetih-g influence Of the violent iuctua-
lions and the fNFer.sh activity In the great
Industrial Sp"viait.eS. Tobacco suffered
from ,hr completion 2 speculative Iiquida-
tior. dropping ~ III. with L subsequent
affected 10y thc op ming ~ the war In the
trade ana there were hF.akS II other in-
.iG,i.}aiS aud As Vielent advances at some
u0tuts notably M,trousittar g. reet Ran.
wav ana BROOKLYN Transit. The most po-
ftut ;nfacuce in checking the advance ia
trr market Was the weakness IF Northern
Pacific common. which Wa offered In euor-
NOUS volume and IN spite OF large alb
scfption %0'1 Of IN Gai..
The rimors or differences between the
itrg~~, interests 3u the property. II true
would involve @ach grave Consequences IN
thc Whale railroad world. ana ySnec.a1tv
among ths trlusa-o.ti nenfal raj, roals. that
the weakness 80 The stock had strong
sYn}pat&@t q influence an the whole $50
The bond market mas shown Improvement,
during the week. especially among he
speculative bonds. Wisconsin Central fsts
advancing ~ m extreme paints TIA -
hav" advanced =. the X g.. tfe - = and
fae new = coupon = per cent. IN Tho "a
rr-c"
Nancy and Exchange.
NJ n~y ou cali . IS par cent Prime
'rsrcer:.te paper Gt.stf per cent. Sfer.tnx
"<charer steady. with actual business -
hsuker~ }di~ ~ st>afsf So. Tor demand.
ana AZ s. Nl5.a4<e far v.x.r daxs ,,a~tei
rates. 81 >sfetfi IS. g. mwfre Al bats II -
= ttt~ Tt.fctt-~. H6iFl a. liar silver,
asa Mexican tsl a.. &c
Government bonds strong. stale bonds
steady. fni,roaa ton5s Hrn
The uanL Statement
-~E > = .