The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-12-05

vas no exception Action the quarterly dividend
pas been looked fer a. any tisne for several days
past ana the news as 10 Uhst the dividend vzlid
he has varied all the way ffon an inrrss-e IN ne
regular rate from = 20 PER cent; and up 10 tha
sssNsf -. and an extra disbursement Of per cent.
me speSuist,on has gone iigat raerriiy en- that
tssis The rr,ce was fun up 10 lEis this morning,
when he intrnaiicn was disseminated that no &C
uen would be taken On the dividend tniay Con
seluently the announcement "a little laief lat the
directors had met as the private resident II the
president al the company and declared a dividend
q only = per cent. came like bombsheiI upon
the speculative contingent In their rush 10 save
losses they forced the price down by rapid stages,
meeting no support except from professional shorts
% the way down The stock touched y q IN the
last hour. which fun points below the highest
and closed with net loss q SIS. The violent slump
10 this stock had depressing influence the whole
market. but the movement elsewhere at time
approached Generalization. In fact there were
points Of strength persisting here and there in the
railroad list. but they yielded their gains in the
late reaction The pressure to sell the railroads
srew steadily during the latter part q the day. and
a large number a them show net lusses 81 about a
point Chicago. Burlington Quincy declined =.
The general weakness. while partly due to rSrhpa-
thy with the violent decline in Sugar. was undonh,-
edy based for the most part, on anxiety as 70 the
ability Of the money market 20 carry speculative
accounts safely the New Year. There was no
evidence that liquidation was forced today, but
spirit Of caution prevailed and inducrd measures TO
avoid anything like forced liquidation. IN view ~
the larss advances in prices which the market has
enjoyed Another noticeable feature 81 the stua-
ton Is the steaaness Of sterling exchange. in spite
OF the hrmness 81 the local money market and the
hpiAnO easier rates IN LONDON ana Hsflln.
The foreign selling OF securities which was
continued today TO the extent 81 Is 100 shares is sup
posed TO account Tor this The opinion is expressed
BY some foreign authorities that this process has
heen carried far as TO leave New York without
further power TO draw gold from European sourres.
In this connection, todays report o further ship
ment from Australia to san Francisco Of $3.50 60
in gold has some significance Incoming steamers
are bringing large shipments ., American securities
recently sold by foreign holders. and the increase
in the supply In stock available for lending serves
10 facilitate bear operations in the market
The bond market shared in the rcaetionsry tend
ency OF the stock market. buf varied by new
points Of strength. Total sales. SSsoca
United States new 4 advanced y per cent
Money and Exchange.
Money call satis per cent. last loan. per
cent Prime mercantile paper. sHsA per cent Ster-
ling exchange. unsteady, with actual business In
banker bills at 1851 for demand and At si.ais
for sixty days Posted rates. S.s2ls and A.ssis.
Commercial bills. 81 .so&@4.slA
Silver certificates. sseSsc. Bar silver at~c. Mex.
lean dollars. 0Ac
Government bonds. steady. State bonds. unsteady.
Railroad bonds. irregular