The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-02-17
NEW YORK.
The stock Exchange.

NEW YORK. Feb 1.-the dropping tendency Of
prices proved TO be too much TO overcome and the
majority Of stocks show net losses the day. In
the standard stocks these losses small, but the
decline from the early high range considerable.
patty with London, but the initial transactions, the
weakness OF the local traction stocks and Of Pacific
Mail served to unsettle The market. Prices sagged
pretty steadily from that time until the bear oper-
ators among the room traders started to cover their
short contracts in the final dealings This rallied
the level OF the market from the lowest but the
movement was listless and entirely without force
London was not encouraged by its good news from
South Africa 70 buy stocks here and IN fact prices
sagged In the home market Consols lost all OF their
early gain supposedly on the imminence Of a new
issue. But London was disposed to take pronts at
all points, Rand mines showing sharp reac-
ton from the early advance There was no occa-
failed to hold the advance Of the South African
news The bears had not as much ammunition, IN
yeste,Ssr INT ,he General Tome N The market was
nevertheless reactionary The bears made inroads
upon Pacific Mail and United States Rubber, but
otherwise very wide breaches made in values.
The local traction stocks we're inclined to rally with
the cessation Of pressure against Third avenue.
Sugar elastic during the early part Of the day.
but became firrner towards the cose. with consider
able effect the general list. The pubic main
cause Of the heavness. Probably some Of the vague
uneasness Is beginning to be felt also regarding the
winter whssk crop because the ground Is bare Of
although money on call was in free supply at per
cent for the greater part Of the day The record
shows, however. that the banks have lost on sub
treasury operations s2,lD.0p According to reports
from the leading banks shipments Of money by
express this week nearly million dollars greater
than last week. while the receipts from the interior
by express have fallen on considerably over a mill
lion dollars. This would indicate net loss
the interior movement Of nearly million dollars.
bringing the total loss including subtreasury opera
tions over 100000 II Is known that some gold
has been received from Canada. which figures this
estimate. There has been a continued Absorption
Of money to mercantile paper and other forms nf
loans In the course Of active business so that a
further extension loan item is looked for large
sncroachment surplus therefore.
unavoidable. Sterling exchange hardened fraction
IT, response 10 the higher discount rates In London
The declaration Of the first dividend the new
preferred stock Of the Baltimore a Ohio fully
expected. and without influence the market.
There q good absorption Of some dormant rail
road bonds at advanced prices but changes generally
irregular. There was quite an active market
for government bonds. presumably account OF the
passage Of the reftnding bill by the senate. Total
sales Of railroad bonds par value. 81 o25.000
United States new "a advanced ic while the old
"a declined l-5c in the hid price.
Money and Exchange.
Money call. steady, ad24 per cent last loans.
per cent. prime mercantile paper, +d6 per cent
sterling exchange. firm, with actual business in
bankers bills at sis7t6fE a for demand and at
81 az for sixty days; posted rates. 81 sat- ssA com
merical bills. s4siiaa ai; silver certificates. seAs
solc bar silver. sole: Mexican dollars, i7tc; govern
ment bonds, irregular; state bonds. inactive: rail-
road bonds. irregular