The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-10-15

70 help prices 70 mcvs upward TIE bea. eas-
Faisn against Brooklyn fr.nas ~ss ssecess:aii!
u under is~ night Metropolitan and Manhattan
sssnns6 - syrpathine. bat recovered tts tscih.-
vita |. nnal nlly ef Ii 10 Irseklsn Trsasi. Pail.
,., -. ss .sssa ss.s se Cam. so rs rsr.
ssne-al1y wiped after the publication IF the
ssns .sAssrns7: bat ens.rins D. me ee3rs s'e'.s.
decrease Of cre- million in cash reserves o. fne
ssnks vas disappointment as e1us-ts bad asaseS,
On AZ increase Ct sbogs that much. Had u rot
bexn fer larger loan contracted than had been
f,-,ss1 for. tue ssrrsos would have eeen
during the week On aercun. Of the eescit In the
ros.afiee department and % account Of pensions
hs3s efset the drain feocuns e rereane pay
uents. 10 that me banb have lost nefhins 70 che
srbtreAxary routine operation. This Is not en-
g~ctssi 70 continue nsxt week ard not much cora-
denes ia felt that the government interest he
Paid MondaS IN anticipation Of It's maturity viii
srzl 20 OBJECT the drain into the srb-trsssITT CT
aocogn. Of the surplus u ,evenses Neither IS there
hope Of Duplicating this weeks recepts ~ gold
which amounted se rather o.oa0. with for.
efSG geld szza amount fyorn Cuba and Some from
szn Francisco. The cusieok is fn further depletion
Ct bank cash and additional contraction Of loans
The public has ksrt aloof from " all street during
the week and tie professional trading element has
feettsd and sEsned the GGliness q trade and
their inability to cause any mossmen, os priees
10 take profits fo- q turn. II IL well recognized
that speculative liquidation IL ali ths; has afforded
saaeh relation in the money rate has occurred and
renewal OF money styinssncy would be likely To
quickly follow arg speculative activity The state Of
South African Republic vas Of very little effect
and seems 20 have teen thoroughly discounted
that the markets Of the whole world have adjusted
Themselves 70 the conditions There was q recovery
ia prices when the announcement made tina.
the treasury department had dseidea 10 pay In ad-
interest for the whole fiscal wear on govern
bonds. bit further study of the plan brought
conviction that IL offered no assurance of actual
easing Of mone, such Is Wall street wants for
speculative campaigns. The very meri. Of the plan
from the standpoint n It's protector that f. that
Il insres general distribution Of tie relief through
the money csnfers Of the whole country initiates
axains. IL fran Wall streets standpoint
Money nsrkets from the rest ~ the country hare
hse money to lend in New YORK thus far when
the call lean rate SCARED 70 Da3s and 20 per cent.
large part Of the total customs and internal rev.
enue garments are made through New York banks
and the dirsc; drain thus made upon their re-
would only Re indifererslv relieved By the
anticipated Interest payments at other points in
country Besides the large amounts Of government
bonds held elsewhere thar III Nev York. i, IL be-
nesei that s0me very large holders ia New York
ttseH VIII not be disposed to give I'D the required
rebate OF government Interests and take the risk Of
replacing the money al advantage. This ia notably
true OF savings banks. which restricted TO hgh
grade bonds fos Investment. which offer oniy a Low
return The Insurance companies ard the trust com
paaes ars also unlikely To avail themselves O. the
privilege IL the general condition Of the money
market IN the country at large was A. stringent "a
New York. doubtless the preferred relief would he
more generally taken advantage Of. The treasury
department. hssss1. has ssen II 10 be understood
thaf II Ia not disposed To take special measures fer
relieving the peculiar distress in stock marke. cir
eies - long as money is to be had for commercial
Pufposss ~ . Per eens HaHEsSg III New York
the condition with eauaEimify They are satisfied
70 see gsor. stiH money rate. based on healthy
business activity, and sorry to be able to
discriminate against the doubtful class Of se-
eurties. and thus check unsound speculative inNa-
tor. With the activity and prosperity In all lines
o' business. 1t Ia not feared that real values will
efed!ts " 's
The course 81 the foreign exchanges makes IL evil
dent that relaxation of the money rate here would
he followed BY ontso Of gold Credits have hsrn
ovsrsstendsd IN the active industrial exranson in
Russia and Germany TIE trad. Ia active
10 Great Britain while the wa. In the Trans
saai cae On the source 10 which London has locked
Tor regular repienishment Of its gold supply witt
universal scramble among the great credit in,titu
tons o. the world toward recuperatiop Of reserves
no point ~ relief from high money il discerpahle
re tendency Of prices Of bonds has been uni
formiy downward Business has been fairly active
and Vel distributed United States tvos al
ssncrd and the old fonrs. registered The thrres
declined In the bid price
Money and Exchange.
Money on call easy. per cent prime mercantile
paper etfh per cent sterling exchange steady with
actual business IN bankers bills at s. soar, "a; he
mand and ssSi s2s sixty days posted rates &. al
ara VIVA commercial bills, 81 81: silver ccrti6
cafes SstaSsr; hsr silver ste: Mexican dollars IL,
government bonds. frrner state bonds inactive raII
road bonds. irregular ~