The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-02-04

IN South Africa. for the symptoms Of indifference
70 that which were indicated last week were en-
in a semi-panic. and the local market, tnougn
sti dull near to stAsnaton, was distinctly strong.
As for the money market outlook the conditions
have been better than during the recent period
of neglect. and the course Of the foreign exchange
market and of operations with the subtreaSury have
given limitations OF a renewed drain on the New
York money supply. But. whatever the cause OF
In arousing the market from its lethsrgy was I'M
questionably the action at the general meeting Of
ting aside Of a fun years dividend on the common
stock at the rate Of per cent, 70 be paid quarter
OF the numerous rumors that had been dissent
mated in vain attempts to awaken speculative inter
sheet. Certified to by Chartered accountants. was
answer to much skeptcism that has asssied TINS
sroup Of ndustrisls Mystery has been the main
CHARACTERISTIC Of the industrial corporations The
amount and nature of assets. OF obiisati9ns Of
earnings. of eIpeuses-all these were sealed from
the knowledge of the public and Of the average
operator in the securities The statement pub
answer all the questions which investors would
want to know. but it served to dissipate some Of
the suspicious which have hung around the iron
and steel stocks. The resulting rebound was CORE
spondingy silent, owing to the extreme depression
was due to liberal promises regarding dividends
and very moderate performance thus far legal
dividend, on the common ona stock q ec2poratiOns
before the fun years dividends on the preferred
naa saeD hsd Sqt lss Trd "
and distrist> The persistence Of these sentiments
made the bears very bold. and when Steel and
Wire shot upward early in the week and other
metal stocks followed in sympathy, heavy short
interest was caught. The bears endsavored to
recoup their losses by some reckless plungng on
the bull side The market In consequence
fererish and uneven and inclined TO become very
irregular toward the latter part Of the week A
fairly large demand for the metal stocks. largely
from Western sources. persisted TO the end OF the
week But the larger part Of the operations
still conducted by professional speculators Prices
have plainly been subjected to manipulation by
ing renewed outside buying. Inc with which
prices advanced shows how nearly denuded the
market has become Of floating supply Of stocks.
The higher level OF prices brought out increased
stocks is overhaneing the market Railroad stocks
have moved upward, but not widely the in
dustrials. and the volume Of dealings in them
has been much smaller.
said TO mark distinct increase Of confidence from
the Wall street standpoint In the continuapce Of
the prosperous condition Of the country Even
the South African war has come TO be looked upou
as making demand for this country's products. and
fears OF heavy liquidation OF American securities
by foreign holders in the event Of further military
reyerses are no longer influence.
Bonds have been well absorbed during the week.
but there has been some irregulsrity in price move
ments.
United States old Is advanced l. the IS and the
new Is in the bid price. The IS declined J.
Money and Exchange.
Money call, nominal: last loans, nominal;
prime mercantile paper. 4d5 per cent sterling
exchange steady with actual business in bankers
bills at AG4g4. s7a for demand and at 81 s4t01s si5
for 90 days posted rates Sass and 81 ss(d4 ss5:
commercial bills 81 s3tai s4i silver certificates bo4
eminent bonds steady; state bonds inactive; rail-
road bonds. irregular