The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-06-05
NEW YORK Markets.
The steck ExehanKe.

MIN YORK. June A-Y04fer68YQ G6aH0 UD4uGD
In prices had the effect Of encouraging the fosna-
tjon a = hull narty IN the ,toc1 nsrSet and they
made IL snRicientiy obvioas At the Opening Of the
tfs<iins and even before that they had AIRED upon
the STOCKS 81 new steel corporations and (. lev
other Industrial specialties the most prasAisng
asld far operations Tips we're disseminated
Through inspired sources aud b. publication Of
coming dividend declarations on several cf these
properties and their prices we're bid MP Ia IN
transformations way a. the opening There was
not the expected enthusiasm, however. In support
Of prices. either By the outside demand or By the
professional traders The higher levsl oe prices
invited profit taking by some of the buyers Il ses-
There was . hardening os prices covering By
shorts In expectation of . favorable hank stats
favorable and the gains which had been estab-
llshed by the bull Clique quickly marked out
There vas very little liquidation induced BY the
decline and the closing quiet and some xhat
irregular In tone end showed net losses In the ma
jority u cases. The holiday In London depriysd
the market Of waat has been . source It strength
In the last len dAys Western Union. Brocsiyn
Rapid Transit and Sugar showed evidences of
rather acute weakness and in the railroad list
Northern Pactae and the eoales were ceaiess Of
depression. Fractional gains were retained In :
lev ssoas carly advances net being entirely wiped
out In the iron and steel group The bank state
LIQUIDATION IN the ssoek market would have re-
suitsd !. gfntfaasten OF loans and decrease In
DEPOSIT nahilstiss. Instead q this there ~ss 2
snau inTeaAe 40 -Ioaus The decrease In cash
vas exuAt ted and Hns due to the engagement a
gold Tor export And 70 Losses to tie banks iy the
q excess
enne returns over government expenditures whlth
10 now the rule There very little husiness
transacted tn the boa4 market and price chauses
were small.
The short vrek % the stock exchange has teen
eharaoeastaeAs ~ ! nlanHinG campaign and ousck
retreat b. the bears They found 3 number Of con-
ditions In their favor when they returned % the
street Wednesday after their three days holiday
and they cold stoeks with great confidence and
soon broke the market. The exhaustion Of mar
gins ON the decline brought out q food III long
stocks which enabled the shorts to extensi.e
lines a. Q good 'front.'. Probably the most infiuen.
tai factor In Determining the bear attack was te
abandonment AZ the purpose 20 sustain price, Al
the new amairamated copper stock ct o. abnse
was largely oversubsrribed at par and the rayacps
NJ .,,berrintfnns was cf,,npieted week ago Aioa.
tsx The subsrr1h.rs werv understood u inrt,ar
some at the most powerful nuaueial interests in
ar ahoye mar all last week in face Of > very IAN.
euid pubic demand when the mice "a. Al.
lowed 10 slu,up 10 as On Wedn .sday and ruurx.iat
that ,hs nnserSui h.etsrs .ers M, si,..as,a 70
combat The yesrtiouary Tendency in urices t,r ,,s
n,sssv,f
merit which had frustrated psvvtous xfse;nD., 10
sc,r. aovr rv,ces IN. yyv~rf,i t,r.r nsrtr r -,
rc~tesi ~ w,rk their viii with mo imnortaut cn,.
ssfion A larger bodx Of security holders Mad foy
on vaitins for ( further rise IA prices Nee
ths he.rs hes.n 10 offer ,yY,rex down nv vtje ear.
ana III, owners Jaw the value AZ their holdiuxs he
ing cut xray from under them thew her.m.
inaseiy Among them were showtnss of rcdae~d
M, canning. for Aprtl by the ~ Pau Bur ,us ton
Nor,h-rr raeiae and t,nion p.riSe .r.ssms' 10.
which subsequent plausible explanations verr Of.
s.rrd bur which were on their fsrr evidrn,e ~
decrease IN the s,sm. available Ia, dissr,,nt.sn
snnns the s.orhheissra There was a hsr,isni,s
tendency IN exchange forssisaaowins an outw.ri
movement of sold. which came In the arrangement