The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-11-12
Bradstreers Financial Review.


Wi. say. As tae result OF the conSFts-Ian~
al elections. which are construed rs nean-
inS that the free silver Issue VIII -sappetr,
TIE securities market III The latter part OF
the week developed great activity ana de-
Siaed strength. The features We're the
large dealings II bonds and heavy buying
OF both socks ard bends tor foreign ae-
count Trading in bonds at tie New York
stock exchange has attained The largest
proportions ever known, and while good
deal Of i is no doubt due 10 speculative
purchases, il is concealed that the Invest
ment demand which has been IN evidence
Tor some time past has received decided
impetus The apparent appetite OF Loado.i
and the continent for American securities
IS attributed directly 10 the elections on
Tuesday and the beef that sound cur
fency legislation is in sight. Il is the more
Tcinathable because the strained condition
or foreign international politics keeps the
European stock markets dull and de-
pressed, while Tie money market, while a
little less uneasy. IS stil high. The foreign
proportions to cause sharp decline in
rates of exchange here. This keeps up the
buying OF time drafts on London for in
Vtstment, or rather for the purpose of car
rying them on loans. which can be OBJ
tanned here at 2s9<per cent. In some quar-
tiers there is. however. an idea that active
speculation and the probable further ex-
parslon of the country's trade VII result
IN a higher money market, and this Is re-
gafded as one of the obstacles 10 the con-
Iinuance OF an active and excited sDac,lla-
o.hty or foreign diplomatic complication
arising IN connection with the Philippine
questions Apart from these matters
the Developments of the week have gem
orally been favorable. railroad earnings
snow continued increases, while the roads
are carrying an enormous tonnage and
complain Of a scarcity of cars The rate
war Is ohscured some by this fact
On The days preceding the election the
market was a dull. professional affair. The
close on Monday evening on the eve of the
ryysl slH,
opened UP under buying by London. sup
p.emented ~ short covering ana causing
an advance in the morning hour. At the
same time the bond list was relatively
stronger and more active than stocks In
the afternoon a break in Sugar and the
CONNECTING rumors about the composition
Oh the next house OF representatives caused
a reaction.
On Thursday. however. these latter
d0upss We're set a rest and all assurance.
Afforded that there Will be A soungt ruoney
majority IN both house and senate Lon
don prices became considerably higher and
tne foreigners bought stocks thrOuEhout
me Day taking in All about 50. oob SHARES.
Under The circumstances the marker adj
Nahced steadily and the transactions for
the day rose 10 about SO 900 0)00 of bogds.
the largest bond dealing in the history OF
the New York stock exchange. while the
shares W
Fridays market was more or less do,,1f
mated by the same influences, the foreign
buying heing again factor, while com
MISSION house buying was again prominent
and the bond market unusually active
About midday the traders showed a dis
position 10 take profits; but the declines
were small and the buying demand fot.
stocks continued remarkably large, al
although the close was Irregular at con-
cesslons- The Changers AMI Pacigcs led
the advance. A Gibson preferred rose from
oops 10 4tzs on heavy transactions II Is
stated that the dividends Will begin early
next year on the stock, and that ex-C;oy
Flower Will enter the Atchison boarf
Union Pacific preferred rose fron 81 10 e9i.
ON reports that the October earnings are
very large, and that the stocks viii be
Placed on per cent basis
northern Pacific pref rred advanced
from S3i2 10 Is, ard L is understood TAI a
] per cent dividend on the latter Will be
declared In December.
The per cent. prior lien bonds OF the
company also had sharp advance 10 t02@,
the Changers were all strong while among
the other nota Bile bull features were Fed
eral Steel preferred Pacific Mail, Denver
Rio Grande preferred, United States
Rubber and Missouri Pacific Tobacco
nunE ire ana was only moderately traded
III. sugar was heavy II first. selling Gown
70 1l2iz, in The face OF the strong market
but on Friday was rallied sharply 10 III ou
enforced covering Of shorts. the loau5ng
rate for the stock being advanced 10 IA per
cent. Among the many features of sne
bond market was the rise Of Baltimore x
OHIO new T., deliverable when issued