The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-12-19

evidence for many days now. and which IS commonly
attributed to operations by large banking interests
looking 70 the consolidation Of control OF many
pettng and connecting railroad systems. The buy
iRg Of this kind was however. distinctly less than
Tor some time past. Efforts were made hy profes-
sional operators TO give an appearance Of eontnu-
ance Of this class Of transactions But the uanpn-
this impression became obvious and hegot feel
ing Of dcnht and disirust The crop az rumors re-
garding plans for such consultations sn TO be pnt
INTO eHect showed some vagueneSs and were free
from intrinsic evidences Of probability In SPITE OF
the ereculous mood which has recently prevailed in
Wall street regarding anything that pointed TO con-
soiidation. the influence Of those movements and
Stories therefore, lost Of their force Another
unsettlng influence was London's change Of front
After buying actively here yesterday. thar center sold
freely today. This was. Of course, the outcome OF
the monetary situation in London. With further
military in South Africa and the foreign
exchanges running against her IL Is the common
expectation that the Bank Of England discount rate
viii be advanced tomorrow. Such condition Is al
ways sufficient to cause liquidation Of foreign
curities from London in the interest Of the money
market. no uneasiness Is apparent over abe money
market outlook 50 far the immediate future Is
concerned Tho subtreas,iry is contributing to the
market by reason of large pension payments. in
creased premiums on government bonds, which are
being rushed in for conversion into the twos before
the refundng period expires, and payments on
assay office checks for gold deposited at Pacific
coast points While these conditions make for the
safety Of the money market, the possibility is
ognized Of pinch in the last week OF the year.
especially II undue speculative commitments are al
lowed to eat up the sources Of the market These
various conditions the explanation Of exceedingy
profits continued side by side with extraordinary
advances In special stocks. of the days special
movements by far the most impressive the adj
vance in the Erie stocks the rising 70 2iA
the first preferred 5. * and the second preferred
10 SOS. There some wide movements among
the minor yanderbilts and connecting lines in CEN
trail traffic territory. There active upward
movement In the steel group in Sugar. Amslga-
mated Copper Missouri Pacific and the Southern
railway stocks but Of these well sustained
The market closed furiously active and surprisingly
steady. considering the large volume OF dealings
The bond market varied as that in stocks,
and, therefore realizing at points contrasted
with advance in price at others Total sales. par
value, 81 l25, 900
United States refunding q. S registered. old As
and IS advanced Il. and Is II per cent, on the
last call
The Is coupon declined Y per cent.
Money and Exchange.
Money on call ia5 per cent, last loan. per cent.
Prime mercantile paper. 4&@5is per cent. Sterling
exchange hnn with actual business in bankers bills
at ss;s for demand and at 81 sois for sixty days
Posted rates, sislts and 81 s5@is5is. Commercial
bills siTa&@As0A. Silver certificates et@65c Bar
silver, Gle Mexican dollars, 0Ac, Government
bonds irregular. State bonds. inactive. Railroad
bonds irregular.