The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-04-20
NEW YORK.


NEW YORK. April ls-Business on the stock ex-
change today lapsed into condition Of dullness
and abandonment to operations of small professional
traders Much angry recrimination continues to be
heard on all sides concerning the bear raid on the
iron and steel stocks. Not only in the stock
ket, but in the iron trade well, accusations Of
bad faith and double dealing banded about.
All other authorities in the trade disagree with
the views OF Chairman Gates, of the American Steel
and Wire Company hut the Iron Age says, in its
review OF the subject: mo sharp tumble in values
is expected unless this development in the wire
trade should produce such effect.
IL is the reservation thus expressed that has so
ohectually upset the speculative world. Dealers in
securities kept eye the iron and steel stocks
all day and the cratic and irregular movements in
the group kept the whole market in feyerish and
uncertain seat When pressure there was relaxed
there a disposition manifest to mark up prices
elsewhere, but the burden Of setting met on the
advance gave a desire TO realize on extensive sales
and took the snap out of he market On the other
hand the majority Of stocks offered decreased ma
teriallS. considerable decline, giving
dertone Of hrmness to prices, Notable strength was
shown at time by the Baltimore & Ohio stocks
and. on the other hand, Southern Pacific suffered
from decided weakness The movement had
about much effect the general list the
other. The sharp advance in the metal, which fol-
loved the decline after the opening, accom-
Tanied by rise. late in the day, to best prices.
Ru, when these stocks and sugar gave way the
whole list followed and the closing active and
easy, considerably below the best. Sugar after
selling up as high as lOsl closed at a net loss Of
p rts. The Of the day generally
ignored. 1t includes number Of strong state
ments Of earnings for the second week in April,
new combinations of railroad systems continue prev
aent The Chicago indianapolis Louisville is
said to be destined for absorption by the South
ern Railway, and there are stories OF the Wander
bits bryinp Wabash securities. The Southwest
ern group Of eocaled Gould railroads are formed
into various combinations by the rumor mongers.
The amount Of foreign proxies voted at the
New York Central annual meeting was regarded as
significant of the recent foreign selling of high
priced secuJi les and explanatory of the upward
mo.crnent Of exchange which continued all today.
Money continues easier and a strong bank state
ment Saturday il considered assured
The bond market active and irregular Total
sales par value Sl7e5,0o0
United States IS registered and old Is declined
and the IS in the bid price New IL advanced
per cent.
Money and Exchange.
Money on call, 2td3 per cent. last loans. q per
cent prime mercantile paper, Alas per cent. ster-
ling exchange, strong, with actual business in bank
ers' bills s7i demand, and at SiA sixty days;
posted rates 81 si4a4 $50 commercial bills. 81 s3ia
Ash silver certificates. 60Ad6l1c; bar silver 59tc
Mexican dollars. Ale; government bonds, irregular
state bonds Inactive railroad bonds irregular.