The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-04-29
NEW YORK.
weekly Bank statement.

tutions has thrown It out Of balance. Half the
10 this cause The principal feature Of interest dis
closed by the exhibit is the gain OF about Si5oo.0D
in cash. which resulted from operations with the
subireasury and the interior The increase was not
as large anticipated and its effect WAS lost,
in part in the gain Of ssii3loo in deposits the lat
ter returning added OF over S2oW.0O
Loans are No5. so larger 1t 4. not notable THAT
the added cash holdings for the week are traceable
to receipt Of legal tenders This indicates opera
lions with interior banks One event Of importance
was the export OF $780, 900 in gold by the National
City Bank This was largely special transaction.
but, at the time. with the banks gaining from
all sources interest rates win probably not 90 high
err and exports of specie are only natural The per
capita. circulation Of the United States Is now at
the highest point Of Its history and is increasing
As business Is not expanding proportionstely, there
Is nothing strange in the spectacle Of small per-
centage of idle capitalizing better investment no
turns elsewhere It will DO useless to predict the
volume which the present export movement viii
assume, II indeed Il continues. but, since money
tainly q surplus beyond present needs here there
would be nothing surprising In z continued move
mcnt for some time to come. But this does not
imply weakness or unfavorahle trade conditions. On
the contrary. IT reveals ths inherent financial
strength Of the country II e not saying too much
mediately, II the occasion arises. without disturbing
business in the least The fact that the United
entire gold production Of the world and that pres
ent supplies being added 10 at rate exceeding
ooo monthly. through current production. Is
need for gold arises.
Movements of specie.
Ths imports Of specie this week were sao.eds gold
and Sss Sol silver Exports Of sold and silver from
$40 100 silver bans and coin and sl.ios. Isl gold.
The imports OF dry goods and merchandise at the
port Of New York for this week were valued at ai-
The stock Exchange.
NEW YORK. April B.-wsn street inclined
TO read the signs Of the day As meaning - little
set back in our prosperity" The market had an
tive weakness. waiting attitude would be the
proper description The reports Of the commercial
ar the caused ssns .Ss
trial and trade activity and business prosperity wers
not being fully maintained for the time being.
There suggestions. in various financial circles.
that ruling prices serving TO diminish cousump-
ton TO extent that may nocesstate etirtailment
s ssd v.sy nssd The .Ih
Of unfavorahle results In the anthracite held The
bank statement. while strong one according TO the
Preliminary reports Of the large inflow Of
from the interior fully confirmed by the state
mont This movement. in view Of the Of money
this center. gives force to the suggestion that
there Is falling OF in trade activity. This view.
at all events the keynote OF the dropping tend
eney Of prices to which there not sufficient ex-
captions TO Affect the general tone. The steel in
dustrials were special sufferers. reports Of in
tended competition By the Carnegie Company in tho
field for steel and wire companies products and the
shutting down for repair.; Of plant Of the Na 4,
loans Is undoubtedly largely due to borrowing on
sterling collateral Owing to the cheapness OF money
here and relative duilness abroad this operation
is more profitable than drawing the exchange. This
operation, well the export OF gold, represents
the lending Of money to foreign borrowers - the
countrys foreign trade continues to accumulate
credits In favor. Reports OF bank ciesrings do
not warrant the assumption that the return now
Of currency Is due 10 diminished trade activity New
York and Boston the only important ecnters in
the country show decrease III clesrinss for the
week. compared with last year The i've other Lead
attt oil al al
cities show Increases running from TO over y per
| cent The true explanation must be that the en-
tension Of hank note circulation and the dishurse
ment Of cash by the United States today has over
run the needs ot the circulation and Is forcing funds
4 back into tie idle OF banks.
Prices Of stocks rathsr lighter At the
! end u this week than they were at the
eud Of the last. after having been considerably
| lower The amount Of support accorded to prices
and the extent % the demand at any reaction In
prices has bcen something Of surprise TO observers
Il was feared that the break in prices in the iron
\ trsae,rads wiuld Include MISUNDERSTANDING
trade would induce widespread liquidation in az
enrities Wall street. by tradition. looks upon tho
ron trade as an iniallihle index Of prospects for
business conditions Once established, the iron
and steel proiurtion has ouirun demand. and that
prices have reached le,ei to enectuaIiy discourage
| aud curtsh consumption. that needs for the
future have been Tar met 70 lead to depression
| an hon and steel and Wall street is prepared TO
socept the evidence as conclusive 81 a elimination
OF prosperous cycle, with the certainty Of period
| prvssion on last suatrday the cut ia prices BY
! The American Steel and Wire Company seemed 20
establish the tact Of such eoudi.ien Ia the iron
| aaa steel trade, and the week opeaed IN
! auvnoe with evidence Of seneral liquidation %
stocks The hrst cheek 70 the decline came from
I the powerful support by inside Interests In the
tsriuus stocks Il eccame auieAs eFident also
That 40 the steel stocks thcmsstses the heaviest
/ Hluidatinn had ALREADY heea effected hs hehier,
I Whn knss what Has coming and Who had not ouly
slod their holdings q stock. but had gone short q
~ malse =, The Aisaes level Thus Il has hap
I pened that the opsning sale Monday morning
marked the lowest pEos IN the iron and steel move
Z men,
. z a.. a
I an ample ssstsiuies torv Tor these storks Bat
1 Wan street hehrseG that after tho bears steel
renewed eeclius. Aad operators coaiinsca 10 sell
{ huuafs began 20 emulate that reeent confident
rredicsien' Il Inaugural d'idenas scps .soShs
3 and inctvtse ga cthers nat vVii founded. and
hat the speculative pools which had eaussi these
Tresigsieus 20 y Hsie had ND oas tseir Aclains,
spt tskea taSsf urcsfs Es,iu,ttcs we're puhlishe,i
I q ne lfnpsosemsnts planncd ~ some q the ra-
foeds tnTalttos a. enormous a'EtAy a. 80 hFvaton
Witch had nesa ce'uted On ~ Endorsements IN
fltjdeniS Tbs qanntiaus whieh WIRE Demonstrated
IN tae sies, "a Wl9s COMPANY slsr hs4 s,rrnsst
eainE isA0cncy ne sentiment GA accgnf Il Their
7 t~anng "a The .uesista n the cfacsey ~ he si
eanus industrial souihiastoas = ~ las, veaf saA
itsssn the taasrF 4 recugrsnt naa,tfial dsr-vsss
Tie rsefessiatsi eeaf traders taifsy ussea IL ne
rsrioai rtartt'asfy trstrnciss ard soAa stoyks AZ
an spcn hant TAsy tsld =, ffeslF thst tAsIr A.,
mtnd So royct shrfR Cant'Arts fefeldpe4 KEGS ccr,
vas rgspcecls tag ,as lats rauy u ths market must
vsii Ter clear aemoustratnn Unii ths tFthes elas.
iag out q speculative VENTURES ana esssAi{ra O,
tas excessive uaulFiatica in.ideuf 80 ths coutrst
! q speculative fsrces Toe traassrsilrs "a susar
z make a srrcsr that he pnpalY hears had sod Al
ia the ksgrnzsts rather Ea7a than the teal fsoss
I issue a. thr couFzny TIE uegsssifg thfr were
gnasr ~ thrir ccatfsets q tstns tAls asn1aat 4.
siess asliseF PLACED tAefr ia unriessant rr,-
a. amert. vNen tRe aaatas ssQrle hst h.en isrrely
[ takgA gp hT buii fgsl vno thrn made the En5.,
q q, Taaasss ssss .As sssA "a. seori . =,
agaiu Tie tiaselt giss ta sugar ceftiGcages ir.
dgcei ecnclN covering movement asaong tAs
haars ard thais uursnrNts trifd 20 "a ~ ri,
,fifarlltes hy rlracrS " favorable assesorrsenf,
hcsriug "a vaiuct me tgiis had In their fatui
] rnnttntt.si iarga saguiuls tr railroads ga ef,-,
sNHrn ~ fhe country. cNrcIt ne snthraeiis cs,at
I efs SisercQrs ceoris uis}e o. r,.esiahIi.h
] fdulifugr fhe rrQsrc-cHs conditions q TIE inn
ta3r afafuiHs tiss large consumption ~ iroa prod
and thr certainty u cnGuunci demand 70 NEE,
j -. 49, q.