The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-04-27
NEW YORK.


NEW YORK. April 2s-The stock market devel-
oped an impressive show of strength during the lat
ter part OF today. The principal influence in the
rise was resumption Of the upward movement in
Pennsylvania and Baltimore & Ohio stock The
recent reaction in these stocks has been accom-
panied by rumors that important speculative inter
ests. which had been prominent in the advance,
had sold out and taken their profits The
o. .ne very hesvy OUTLAWS IN prospect Ior permanent
apprehension Of dividend increases being indefinitely
postponed, only Pennsylvania stock but on Bati-
more Ohio and many Others which have been sub
ject TO of increased dividends; but today the
report Of a probable increase in the Pennsylvania
dividend rate took form again, and was circulated
with great explictness Bids were made on the
board for the next semi-annua dividend on Penn
saylvana on thousands of shares of stock of a per
cent. compared with p per cent, the last rate.
The meeting Of the directors for the purpose of fix
ing the dividend rate is fixed for Tuesday next
These reports in regard to the Pennsylvania had the
most direct influence in Baltimore X Ohio stocks,
next to Pennsylvania itself. but the whole railroad
list responded in varying degrees to the influence
Of this movement These pools, whose operations
for rise interrupted by the Steel and Wire
episode resumed their operations to some extent.
This was notably true OF the Gould Southwestern
group, which subjects Of teeming r,imors Of
prospective combinations cancellations. The
determined frmness Of Sugar and its buoyant up
turn later had sympathetic effect on the market
The movement Is still attributed to the demand
from the shorts, but the many assertions OF favor
able developments in the trade may have had
their effect A number of unusually favorable rail
road statements also had strengthening effect on
the market Increases in net earnings for March
were reported by the Atchison Topeka 4 Santa Fe
OF So per cent by the Hooking Valley railroad Of
1906 per cent, and by the Central OF Georgia Of 30
per cent Returns Of gross earnings for the third
week in April were also uniformly favorable. These
factors Of strength caused growing uneasness among
the rather unwiedy short interest, and the demand
from that element had no small part in the rally
in the market The unsteadinesi OF the sterling ex-
change market today gave ground for renewed doubt
as TO the continuance, for the present Of the gold
export movement The strong return OF the Bank
Of England for the week. we'll that Of the
IMPERIAL bark Of Germany had some effect on the
exchange market. The subtreasurys debit balance
at the clearing showed further decline today
falling TO $500 lea compared with the recent average
Of over a million dollars. II this repenshment OF
the money market is cut of il may serve to prevent
the outward flow Of gold.
The bond market showed increasing activity and
strength today. Total sales. par value, S.3sO.oo0
United States bonds unchanged In bid quota
tons.
Money and Exchange.
Money on call. ad2i per cent last loans, "a per
cent prime mercantile paper, s@5 per cent ster-
ling exchange unsteady with actual business in
bankers bills at 81 ss61i sat demand and Stsita4 si
sixty DAYS: posted rates. 81 s5d4 ssh and Asaai s9s
commercial bills. 81 s3tt si silver certificates sd
a60tc: bar silver 5sio; Mexican dollars. SIZE:
eminent bonds. steady; state bonds, inactive; rail-
road bonds strong.