The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-05-16
NEW YORK.


NEW YORK MAY E-Operations IN the stock
market continued TO be left largely TO professional
hands today, the movement being exceedingly ir-
regular and confused all day. GENERALLY speaking.
Il could be fairly said that railroad stooks were
nrm 70 strong, while the industrials weak
This distinction was obvious the opening q the
market and the days trading tended rather 10
phAs1ze II, and except that the demorAliEinE tend
enees in the steel industrials ultimately affected
the whole list and dragged hack the strongest
o. railroads. There brief show q strength
after the opening by Federal Steel and Steel and
Wire. probably covering q shorts sold on yes
terdays break but IN the late trading these stocks.
as well others Of the group fen to the lowest
The declines ranged all the way from / TO nearly
points, the latter Tennessee Coal There was no
definite news to account for the weakness. but
rumors were plentiful that dividends would be re-
duced or passed. and that further deep cuts were
pending in the price Of output Of the largest com
pctitor al the steel companies whose stocks are
dealt in on the stock exchange. The declaration
OF first dividend the common stock Of Ma
uonal Tube and the reports u the reopening Of
sundry mills had no effect in checking the de-
cline
Among the notable exceptions TO the weakness in
the industrial department were the group Of New
York city stocks, including American Ice. Consoli-
dated Gas led In the rse of points. aud the local
fractions responded. meeting Of the directors
Of the American Sugar Refining Company caused
Uneasy demand from the shorts. which lifted the
stock at one time "a, In the railroad list Bur
hnston continued in good demand at an extreme
advance Of H. in spite Of deniss Of the rumored
refunding plan.
The granger group and Western stocks were most
benefited in sympathy and showed good advances.
In spite Of reports Of declining traffic both east
and westbound. There was said to he large buy
ing for account 81 outstanding short interest in
the West In the railroad list The relief to the
London money market afforded by the receipts Of
Russian gold aroused the hope that immediate
demand would he made New York by London
for gold. This an influence in the days
strength in stock market. although II is
pected that further shipments will he made 10
Paris by Thursdays steamer The statement Of
the April foreign trade % the United States, dis
closing a maintenance OF extraordinary favorable
conditions. have elevated somewhat the evidences Of
continued reaction in interior trade. The market
closed heavy and unsettled by the break In the
steel indastrias the railroad stocks holding only
a part of their gain.
The bond market was not active. but prices were
held well sustained. Total sales. par value, SlG5.
90.
United States rofundiug q. when issued. advanc-
cd l, and the "a and new Is l in the bid price.
Money and Exchange.
Money call. iia2i per cent: last loan. Per
cent Prime mercantile paper. aiati per cent
Sterling exchange. steady, with actual business in
bankers bills at sisssaa ssi for demand and at
sisiiQa4 sls for sixty days Posted rates, NssA ana
81 saas. sel Commercial bills. A.steitsit Silver
certificates 6oaeAc; bar silver. ec Mexican dollars.
tsc.
Government bonds. strong: state bonds. inactive;
railroad bonds firm.