The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-12-02
NEW YORK.



NEW YORK, Dec There was comparatively
narrow market for stocks tssiay. and the tone
not well defined at any time. Large and confident
buying OF few railroad stocks IN evidence
but this partly offset by the sharp weakness Of
number OF industrials aud spcciaities. and the
whole market turned downward with the appear
Of the hank statement and with additional in
Thence Of Spoint break in sugar The notable de
mand for railroad stocks locked 10 shares Of COM
panies operating in the Southern region Chesa-
peske 4 Ohio and the southern Railway stocks were
taken in large blocks and Mobile h Ohio
moved upward ia points out u dormant state
Sugar heavy Throughout on doubts regarding
the approaching dividend which rumor has pro-
claimed would be increased. Reports current q
projected rev refinery near New York had marked
eject on the stock, and helped to break the price
Pscifcs Glneose. Smelling and Anaconda weakened
early in the trading. n.riean Tobacco showed
ers had rise on the cold wea;f The bank state
msnt was surprise. The heavy loan expansion is
for December. but the reeember preparations
for January expected to become effective soon
toward the last Of the week suggests caution in the
borrowing az money for speculation. The gain in
cash Of Hsf 300 was unexpected, and served as
mcnts Of - 245.eoo drawing ont Of the large addi
ton of Sill MS 900 deposits The inrcad Of 81 az
600 upon the surplus would otherwise have BEN
rruoh larger The continued large demand for binds
trade.
scale this week No change in financial or business
conditions be assigned the Of this less
eued speculation. 1t Is rather the natural pause,
bound TO come after oatb1st 81 great ectivtiy
in human affairs. The thing seen in the
business 81 the county. where buying vas excessive
immediately after election representing the loosen
inc ~ noods pent mp pending the decision Of that
event. while the animated demand for products
shows natural reaction This is especially
ticeahls in the iron trade The stock market Ia
recially sensitive 20 the course Of events in that
trade. The purely speculative element has been
quick TO take profits, and prices have consequently
declined This survey OF the stock market conditions
must, however be taken In purely relative sense
While business Is smaller aud prices are lower than
IN the period immediately preceding. there IA sill
hish level Of prices maintained. aud capital con
tinues TO he employed on enormous scale in Sc
eurities. II has happened many times that the
transactions IN some one stock will show sales 81
10 600 shares for single day, and the record has
ron almost 10 Dc0o shares FOR single days basi
ness In Northern Pacific Z IL not ctneeiyabie that
upintcrmed speculative enthusiasm Of the general
public Shsald show such resnl. tins. Great
bpaticns and syrdicstes Ct boukers and capitalists
alone could command the resources for dealing on
such scale. Wien the execution Of buying orders
brings DOR records OF many thousands OF shares
changing hands In these st0cks Nor Is II within tho
hounds a. probability 10 suppose that this buying Is
held margin, with the mere purpose o. mar
ksting the shares at higher level Of prices Some
have gone into the vau's OF financial Institutions.
be- held for the sake u the investment return az
forded, while others have zone INTO the hands u
OF increased influence. No authoritative announce
mcuts have been made as 60 the s5.rts Of any q
this huying though rumr has been busy with
ports Of deals and cochin .iot s These
indehnite and sonstiHes contradictory to
stamp them as unreliable, eat The consietion IS
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$40