The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-03-15

NEW YORK. March 1s--The stock and
fsossd markets were strong tnroug hs5ut the
cay Da1eresst opinions were offered as to
1ae Cause Of this. and probably all had
same truth IN them. That the excess OF
oN1TaHcy was & surprise 10 many pro-
ErsAaonsi Traders was evident There was
NOTHING tn the news az the day 10 change
materially the political outfcok and that
there were many holders OF securities who
Continued HEsy6Sis was evident from the
large offerings Ia realize which net me
Wh.cn resulted from these offerings was
mare than overcome. even those stocks
WHICH showed Inc largest gains at the
opening rising again 10 the highest, and
Tire close. which should be- less affected
than the opening, rising IN some cases 10 a
point above the early prices. Prices OF
AMERICANS were advanced III LONDON De-
fore the opening here. This was the more
notable on account OF the acute depression
OF the Spanish government -. which fell
IA IN London on Paris selling, ard showed
ali extreme decline OF i's in Paris: The
course OF these bonds has been cooked TO
as q true index OF the diplomatic relation
between the United States and Spain.
This discrepancy might mean that capital
looks favofably upon the excellent saan-
eta! and Industrial conditions in the United
States ia spite OF the danger OF war. or
IL might mean that the acute financial
distress Of the Spanish government DE-
TRACTS from the value OF is bonds. IN spite
or the cnanee OF peace IL j. no. 10 De
lost sight OF that United States bonds in
the local market declined II per cent. In
the bid prce u the face Of the strength
Of all other securities. IL is possible, how
ever, THAI the stiffening OF the money rate
may have accounted for this movement.
Certain 1t is that there was a very large
covering of short contracts which has
been laft open over Sunday on the belief
that some new and dangerous Develop
ment was imminent in our relations " tn
Spain. The firnuess or prices was sus-
tanned 20 the close. There was u demon
- q q
business conditions in the country would
quickly bring about a recovery OF prices
upon any relaxation of the tension over
the Cubans.
Gold continues to he engaged abroad
for import fcday's announcements agzre-
eating considerably over $500 900 the
fail In the rate Of exchange or Paris ana
Berlin and the relative steadineSs or Inc
rate on London indicates where the pres
sure FOR gold is being felt. and there was
a response in the stiYenlng OF the money
moving 10 the interior from this point; and
receipts OF gold had no effect today IN
affecting the money market. over sieS,-
$50 viii be Withdrawn from tne market
tomorrow and conveyed into the treasury
for the second payment on account OF the
Kansas Pacific sale
Nearly ali active stocks are from 10 3
per cent. higher rs result OF the aay
sympathy with stocks. but the overwhelrn-
ing proportion Of the dealings was In me
A;chfson adjustments and tho uu-on "a,
cI;fc .s Total sales. s2.7e3.Oo. United
States bonds were u per cent. ;swer bid
except the As registered and the IS, which
were unchanged.
Money uud Exchange.
Money on call steady at 2H2i2 per cent
last loan 2;A per cent: prime mercantile
paper. .atf. per cent. Steriihg eNcnanSe
soft with actual business in bankers bills
al 81 sss, for demand. and at si>l@. for
sixty days: posted rates, sis2Ii.ss and
81 slik: commercial bills, $50 Silver GER
ttdcates. s4ssao5i4c, Bar silver, S4i2c. Mex
can dollars, i44c. Government bonds
weak: state bonds dull; railroad bonds
strong.