The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-02-08
NEW YORK MARK ET>.


NEW YORK Feb -.-Toaay's market
for stocks suffered the burden of realizing
sales. and from the bear pressure 10 the
recrudeScenee 81 the Cuban scare. There
We're special elements OF weakness I'm adj
dillon. The Union Pacific securities We're
heavy on account OF the announced deter
minaton of the government 10 operate the
Kansas Pacific uader a receiVersh;p and 20
seek 70 postpone The sale ~ the property
The Kansas Pacific c0nSolS opened off %.
per cent. on the strength Of This. hut the
buying at the decline very heavy and
aggressive. and reassuring reports We're
given cut that this security WAS nor likely
10 be- deprived OF its right OF exchange wsth
the reorsanized Union Pacific securities.
This apparently failed 20 rally the stocks
Of the company. and they We're heavy all
day the preferred going OF at one time
IFS and the common a point. Missouri Pa
cine showed Il recurrence of lis recent
weakness and declined At one time point
below Saturdays close. Lake Shore. New
York Central. Northern Pacific preferred
and other recent fayoriteS showed the ef-
fects of a continuation of prott-taki0S.
The coalers and the Changers We're IN the
main heavy. Northwest being an eNcep-
ton. Northwest preferred showed
gain of 3ia over the last transaction. quite
a number OF stocks showed gains n the
opening. but is a rule subsequent declines
wiped them all out. \ few stocks were
conspicuous for very vigorous movements.
This was notably the ease with MetropOli-
tan Street Railway. which was AZ one time
5Ss above Saturdays close. but which re-
acted las. Norfolk & Western preferred
was quite strong all day, and advanced at
one time 3ss, reactins fraction on pFoht-
taking Michigan Central also renewed lis
interrupted advance. and is Il. higher for
the day. There We're some sharp gains also
in the usually inactive high-priced seCuri-
lies. The feVeriSh and unsettled condition
of the local corporations was noticeable IN
the closing dealings.
Although the stock market was not lack
ing in activity and interest, the bond mar
ket continued 10 absorb A large share OF at
tention and 10 show great strength. There
were some five separate single transactions
in blocks OF a par value Of 500 COO or over
Three of these were in the Atchison adj
iustment Is the total dealings in which
footed up for the day log1 ,ot0. The re-
coverv in Kansas Pacific consos 10 lee
brought out a block OF Slt0,too which WAS
taken by one dealer There was H29,WH
block of the new Union Pacific IL sold dur
ing the day. Some sharp gains are report
cd all through the bond list. Total sales
SD. Coo t. s Is were IA higher. and the
Is both old and new. We're IS higher Did
Money and Exchange.
Money on call easy al IL per cent; last
loan 10 per cent. Prime mercantile paper
Sa4 per cent Sterling exchange strong.
with actual business in bankers bills a;
S4S,l, at 5as for demanu and si.NSa4Siis
for sixty days; posted rates, 81 Mia ash.
Commercial bills Si.S2n4S2'2. Silver Ger
tifcntes a5ih051isc. Bar silver. oSisC. Mex
ican dollars i52sc. Government bonds
strong. State bonds duh. Railroad bonds
strong.