The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-10-24

yesterdays furry in call money To per cent was
taken b the speculative element today and the
rather incorporate buying which has flooded the
market snee the latter part n last week msteri
any curfailed There was great deal Of business
Done in the first hour. but the selling to resliEe
clearly outweighed the buying demand. in spite Of
some sharp manirulRtive advances IN a few spe-
ealties and the level q prices went below
last night. The selling not AZ all precipitate,
and showed tendency to decrease as prices receied
70 the lower level hut when efforts were made 70
30 W prices again It was found that selling orders
were waiting at the higher level IN sufficient vol
nme 10 force prices back again Late IN the day
much heTalded upward movement IN Northern Pa
une came into notice For several days past m
mors have been heard Of bull pool in this stock.
based on the large short interest known TO exist in
H. and the reduced floating supply. owing TO the
recent buying Of substantial character which Ap-
peared When the quotations got below a. The price
was "a To-Day when the advance began and IL car
nea NE Quotation up through some very heavy sell
fng without material setback to a shade over Is.
making the net gain ~. Great Northern preferred
was advanced points co-reistisely II alleged
m behalf OF the movement that the impairment Of
the earning power Of railroads in the Northwest by
the shortage Of the spring wheat crop hxd been
greatly ovesstated She statement Of the Northern
decrease in earnings cf ST. ss Notwithstanding
additional mileage, compared with last year, Of
nearly 400 miles. There was a notable dixnclina-
tion IN the rest Of the market 10 respond TO this
movement, and the Tecoveries were quite insignih-
can't. The fan in the call loan rate TO 81 per cent
IN the last half hour was equally without effect In
rcawakening speculation aud the market closed ir-
regular az small net changes
The earlier sales Tor call loans ruled from 4 10
per cent. and II is not unlikely that the reaction
was due to the abstinence of the specuistors from
further encroachmeui in The events Of
the day had the effect Of awakening some fresh I'M
easiness the market conditions, and these were
not altogether ailayed by the renewed weakness Of
currency 90 New Orleans through the snbfreasury
was also renewed today Much doaht exists regard,
exchange. especially Paris cheques The transfer Of
ina the effectiveness Of high call loan rates In re-
newing sold imports. The gold thus far secured
was the result Of securing the open market sup
plies without arotxing the opposition Of the great
central banking institutions which would have 10
be resorted TO for considerable gold supply Bor-
fowers Of time money show Dissatisfaction TO pay
as much as per cent, while bankers have counted
upon good market for time loans At per cent
Whether they viii be inclined 70 impor, geld under
the circumstances to meet the exigences Of specu-
lation Is mcoted question
There decided falling of 10 business In
bonds. and prices reacted at various points Total
sales par value. 81 e0p0
United States bonds were unchanged on the last
call
Money and Exchange.
Money on call. 3has per cent last loan, sg per
cent Prime mercantile paper. 5,a6 per cent S,er~
ling exchange, easy, with actual business In bank
efs' bills at A3A for demand and at N.9& for
sixty days. Posted rates. N.si act SO and 81 ssd
i.Sh. Commercial bills. S.s0A@s1&
Silver certificates. esis@6snc. Bar silver ssc
Mexican dollars Sic
Government bonds steady. State bonds. weak
Railroad bonds irregular