The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-05-02
sEW YORK MARKETS.
The stock EXCHANGE.

NEW YORK. April s0-There was quite
an extensive taking Of profits today, after
sns three days days advanse II prices The re-
the days extreme advance leaving net
gains In the railroad list mostly fractional
IN some OF the speciai.ies. notably sugar,
there remained over a point OF net gam
The bull leaders this morning had TO face
the sentimental effect of early declines for
Americans In London. extending to nearly
point in some cases. This meant that
any advance in prices here would have to
carry the burden or arhitrage sales.
Prices we're: however. bid up at every APP
of arbitrage brokers were quickly absorb
ell. Sugar mounted nearly FIVE points. and
other lending speculative stocks point or
Paris was adduced as a bult argument.
and there were vague rln7ors circulated
that private Information had been received
In the street sss .,rss that the United STATE,
'engagement of the Pall paines. -,esfflel az
gressive leadership Of the big bulls,
coupled with the rumors kindled the en-
thusiasm OF buyers and small traders fol-
lowed the lead Of the big ones Quite A
fair amount of commission house buying
was also done.
But while business was still active and
on a large scale stocks began 10 be sup
piled The offerings were sufficient to feed
the demand and prices ceased TO advance
movement Before the reaction had pass
ed far the supply ceased. Meantime a
handsome total OF stocks had been market
cd at the advance ard sellers felt the COM
Portable assurance that their paper profits
had been turned into cash In the event OF
an unfavorahle turn IN any events over
Sunday. There was some renewal Of the
huying demand in the second hour bu. II
did not reach proportions There were
fluctuations In prices after the close
The market for stocks and bonds IN the
early DAYS Of the week was the dulles.
and narrowest that has been seen In years.
On Wednesday the aggregate sales OF all
stocks fell 10 less than s0.0nd shares. In
50 dull a market there is usually natural
a marked disposition in sne market TO re
sist any downward tendency due to the
conditional order IN brokers Offices go buy
stocks on any sharp decline. The hard
mesa Of prices encouraged a powerful
eotere OF professionals 20 enter the mar
kst for a huli turn. This commenced oner-
atis5ns on Thursday. The arguments they
offered 80 Justify the advance were that
naval victory by the United States squad
ra1 off the PhGinpines was rNssoHan'F - =
tain and that the Smelling Of tire Spanish
works al Matanzss had conclusiveiy dem
onstrated the skill and superiority o.
Tinted States gunners and guns. botn 0.
these factors Is was argued. gave po,en,
promise in the early success Of the Tinted
The general pubic showed no signs Of q
purpose 10 pat is money into t1F STOCK
market under t5e aggressive lsaSsFssip
DEVELOPED by the bull coferle IfdoAfoi-
eddy the underlying cause OF thf recovery
In prices - .he more assured cofd5 ton IN
The nrorev market ard IN. i5.bFofEG Gus
mess Si.uasEou The future 81 the monsy
market has hinged for some time on the
action Of the government for q war loan.
TAa cenxs,fsstinn OF the secretary ~ the
.reasf,~y with a number Of leading finsn~
Gers served 10 clear the situation The
success Of th. proposed Iran al Der cert.
was felt 90 be assured ara! the p,anH for
disbursement seemed TO be sufficient TO
guard against sudden ccntractions ard
strsngensxr This Was felt 10 give promise