The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-03-04
THE SEATTLE Observation-Disclosures SATURDAY MARCH 1890

in the iron and steel industries In spite
of this and evidences Of support IN some
other parts OF the list. the market acted
as II the recent advances and the specu-
assve ouysng which they attracted Sad
left it ripe for reaction
The downward movement began on
Tuesday Some irregular recoveries en-
Wednesday were mingled with f1rtssr
realizing and ceiling Out Of weak ac-
counts, while or Thursday the latter pro-
cess assumed still -argsr proportions ard
even carried with IL the ssee. stocks. which
mad thus far shown strength in the face
of the general declining tendency. THE
Larger interests which had taken the lead
at the beginning Of the recent upward
movement of prices were. with some ex-
captions. passive and seemed willing 10
allow prices TO settle down, while TIE
professional traders. as was natufa. under
the circumstances, generally showed an
inclination 10 work on the bear side. In
fact. some of me larger people were also
suspected of having shifted their forces
with the object OF making turn on the
short account The rise on Friday was
in a great degree due 10 the short inter
est which was alarmed by the appear
ance OF renewed support IN some or the
manipulated stocks and speciast!es While
at the opening OF the week there was a
further moderate amount OF buying by
commission houses the later days pre-
scented increasing evidences of selling from
such quarters
London displayed only restricted in
terest IN American securities and the for
in their activity. hut probably purchased a
fair amount OF stocks on balance, In fact.
not only is IL to be noted that the recent
heavy selling OF foreign investment hold
ings Of our securities has ceased, but that
outgoing steamers from New York are
again carrying consignments of our
stocks In most cases. however. these
shipments are made up of low priced spe-
cialties and stocks like Ontario Il West
ern. in which the London market has
learned there are more or less important
developments pending.
The slightly firmer tone of the money
market and the fact that many lenders
object to industr.als as collateral while
in practically all cases asking high rates
part of the security for loans were dis
euSed more or less though II cannot be
said that they furnished ground for the
iqudating tendency. At the same time
such symptoms are not without effect
after the market has experienced an ex-
hib.tion OF buliish speculation and the con-
tinued creation of new industrial COM
panes with the attending desire to buy
their securities on margin for speculative
purposes, is still regarded in some quar-
tiers as the weak spot in the market
The booming tendency in the steel and
iron, dry goods, manufacturing industrials
and other Ines are OF course noticed in
the market has discounted them. tempor-
arly, Is very prevalent there 1t must.
however be observed that the declines
have been on the whole of moderate
kind and that none of the developments
have been OF a character TO seriously dis
turb values, while there were number
which might serve as prospective reasons
for builish demonstrations in certain parts
OF the list.
ca q. g.