The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-05-23

not only over last year. but over previous
years. and IN some cases ali records are
arcken for this season OF the year. There
- an increase also in the hank clesrings
OF the country. The wholly unprecedented
conoitton OF our foreign trade balance has
Also received renewed attention. the more
ports! stan continues although this is the
season when the balance generally turns
against US With a favorable trade balance
OF Si&aoeesH for ten months OF the fiscal
year. against the best previous record OF
less than Sn0uo.a0 for a fun year. there
is M room left for tiraid apprehension
about the country's future money re-
sources
Increased activity. early in the week Ia
the bond market resulted from large lots -
money seeking employment. The demand
speculative issues Prices are quite gen
orally higher. and held steady. even
through the reactions which occurred in
the stock market. United States rev Is
declined q. the old II regular Il. and the IS
u in bid prices.
Money and Exchange.
Money. nonlinally Ia per cent. prime
mercantile paper. 4tsAi5is per cent;
Sterling exchange steady. at siss,.es4. ssls
posted rates, Asia4s.: commercial hills.
A-s214 S314: silver certificates. 5ss.G5sc:
bar silver 5aisc; state bonds. dull; Next
can dollars. 4oc: railroad bonds steady;
government bonds. steady.
The weekly bank statement is as follows:
Surplus. reserve .................S s.7lSoe5
a.oass ''-'...-..'-. s................. ..sot.No
Spccls 49,. ......-....-.-...... 5.se5, sA9
ISSai tender ......-..... .......-... 1,S@l.at5
LSPbsits '......s+. ...........s..--. la.-ts. ase
The hanks now hold se.s5sii5 in excess sss
OF their requirements under the Is per
cent. rule.
The Ffnancier says this week:
In the face of the showing made by the
New York hanks for the week ending May
81. 1t is difficult TO see how the money mar
ket is to be sustained on the present low
level for any length of time. Banks now
highest reported in fourteen months. ana
the total cash In bank has rarely exceeded
the present volume. The circumstances
which have brought about the remarkable
changes In the statement are not difficult
to understand. The steady demand for in
terror renit,ances has given way TO de-
cided movement TO this center. The ship
ments TO the interior have not equaled gold
imports for some time. Added 10 this. the
treasury Is disbursng large sums OF money.
and until two weeks ago. high rates forced
OF accumulated sterling bills. The result
has been TO throw mass OF idle money into
the banks.
Fortunately. the situation has so much
improved. that the banks are finding use
for a part Of this money. and the expansion
OF $1.s5.. 500 in loans for the week Is cheer
Ing sign. What proportion of this Increase
represents mercantile demands cannot b.
estimated. but 1t is true that some very ac-
tive buying OF sterling bills is again being
INDUCED in.
The expansion OF averages for the week
can be traced 10 several banks, notably
those which are concerned in international
movement. but. on the other hand, the IN
situations making speciality of country
accounts report increased deposits, showing
the return to be from the interior.
Under normal circumstances. a move
ment I'm favor of New York is only natural
In this season. and now that the proposed
government bond iss;se has been delayed.
New York will probably continue to gain
heavily.