The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-01-01
NEW YORK MARKETS.

/ iia.s q NorSross. i6S Yellow jacket -..- Al
NEW YORK MARKETS.
The Stock Exchange.
NEW YORK. Dec. al.-Today's market
seI STOCKS was very dull. and net changes
4or Inc most part Were trivial and are di-
oiaed among street gains aud losses with
order The local traction securities were
she lavorftes. as has been the case for
many days past. and they rose at one time
Sharply above last nights level. under the
oelieI that they would benefit even If the
pIoposed rapid transit project was con-
ure and rose at one time 1ixc, but held only
| fraction of that amount.
News this morning from foreign ex-
by yesterdays. reports that the British
naval reserves had been ordered out Brit
ism consols advanced fraction in London,
look. The frmness of the wheat market
also relieved the uneasiness in speculative
circles over the outcome of the great De-
cember deal. The bank statement was d g
regarded. as II is so involved with the
Union Pacific operation as 10 offer no ind-
cation OF the drift of general conditions.
The somewhat contradictory frmness OF
money and hardness OF foreign exchange
continued today. though both markets
were very dull. The sub-treasury had
again rejecting the continuing replenish-
ment OF the money market from that
source.
There was disposition TO make much
OF the exceedingly favorable November
statement or the PENNSYLVANIA system.
The increase In gs9ss earnings for the
was 81 49,. 400, and the increase In net was
$.sss The week has been one OF duliness
on the stock market, and outside of few
spee!alties of a highly speculative charac-
ter almost apathetic. Trading has been in
the hands of professional room traders. and
outside interest has been insignificant.
haG ~ al n n
dizziness. The holiday season has kept
many dealers out of the markets. Dealers
IN the market hoye the habit to al
with the end of the year as far as possible.
and of taking account OF business before
entering on new ventures There has bsen
liquidation of speculative accounts during
the week in accordance with this custom.
the effect OF which has been chiefly felt
in the specialties recently the favorites In
Profit-taking In the stocks of local corpo-
rations caused some sharp recessicns in
values but later developments haze result
ed in recoveries The decisive factor in re-
stricting speculation. however. has been
the stiffness of rates for money and the
as the week progressed. Mondays pay
men;s TO the government BY the Union Pa
cifc syndicate OF almost ss,5oo.ov0 necessi.
tated an extensive shifting OK loans, and
consequent disturbance OF the money mar
ket. which even the elaborate precautions
of the banks and the government were not
Paei.ic payments 81 oeo. 900 Was left on de-
posit in New York banks. and the 81 500 900
paid into the treasury was more than on
set by amounts paid out on account OF Pa,
csfic bond redemptions on Monday and
Tuesday. The money market has been re-
plenished by additions! amounts on tais
though rates for money have been pretty
stin, there has been no stringency- Ths
hardening of exchange which became pro-
nounced on Thursday reflects the CONN.,
dence that rates for money viii work 10 an
easier basis soon after the first or the year.
Expert estimates Of The amounts 10 o. aas,
make them for New YORK sNpu@. Tor
Boston. SIS o0o. odl. and for Phiiadelpnia.
sl0.eoo coo. In estimating the ta' h Oh Iae
New York banks over s3S .eo ooo OF the
Union Pacific payments. IL ia not intended
n draw upon any Of this for the govern
nent January interest payments. when
will he made in cash. thus onsetting Inc
final paynent of the Union Faelnc syndl-
cate which GENES on January .. ana wnich
amounts to s.. ooo,eee -.
The government deposits Will be left IN
New York banks until they desire 10 sur
render them which. in the natural course
OF things. will be as soon as the money
market shows tendency 20 become easier.
The seasons enormous trade baiaIce n
our favor has left us large credits abroad,
which are available resources IN the event
OF any great need here. But this balance
has been modified by the receipts e1 san
Francisco. since August /. OF Sill, si5,ooe in
gold from Australia. which largely repre-
SCENTS pa yments OF Australian Indebtedness
To England by payment of EnEiands deot
Ia us II il further modified by sales Of for.
eirn holdings az American securities ana
bv dividends and interest TO be paid on Sc
curtties still held by foreigner poih me
items being very difficult 10 estimate.
Prices generally outside OF lew CT Tie
specialties are lower on the week
The bond market has shared In the dull
ness Of the stock market during the week,
hnt prices have held firm or have improved:
United states Is. both TIE new end t1e old
issues are IA lower bid. and the - Is lower.
weekly Bank Statement.
Thu weekly bank statement shows tho
-0'+'"'''s Increase. Decrease.
s,lrplns reserve ...........s 81 rs $40 .......::.
Loans $50. ..'.'. $780,. "a 900 '..'.
Tswai tenders 800. ...... s, ,aso ....---...
deposits $500. ........- s,ssi6"e -; -;
c. rsa bsp,ks now hold SIS 81 10 in excsss
Of the requirements Of the = Per cent.
rule. ..-. -.
ira associated banks OF New YORK city for
ne week ending December 81, Ia en argi-
war. In favor az easier money rates. The
hanks ~snce December 20 have gained IN
raSn s. 74s aa and their net deposits have
expanded nearly ss.oooo As the gains IN
casn and deposits were almost Identical,
ire reserve has increased in proportion
that is IL IS about % rer cent OF the local
cash exra nsson. Ias 49, bss ' h.os. We
rresssd 81 2ss 90 and at the close Of me
SSe@k stood a: SIS. -. 20. In view 81 lais
snoUing al fear OF striEgercy over the
Ia ~ tne wear must BE dismissed. Dur
lag ira next week the Union Pacific COM
rB!tsse will make another ks~es9
shsrs - no likelihood that Il viii
hsye airy more effect or the narket
than LAST weeks settlement % similar
ans0sfnt caused. This Will end trans
a~;Ior which has had an Important bear
Inr on money aHairs for some Tine. ana
.or-.a. period Will succeed a.
Money and Exchange.
Mcrsy on call, firm a. sisCs per cant.
last loan. 1 per cent: closed, ss4T Yer
cent: Prime mercantile paper, 1As14i PEI
cert Sterling exchange, dun ard easlrr,
wsth actual business In bar kefs Dills Al
a. 80. - So fsTr demand and al sss- for