The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-06-03

disclosed whether the upward movement was not 70
prove abortive. American securities got practically
rsigned in anticipation Of the whitsuntide hoii-
days. The only stock in demand for London account
New York market, an extreme advance Of a. on nj
mors Of early dividend on the stock Efforts
were made TO put up southern Pacific on the ex-
pressed satisfaction Of the president Of the COM
pany with the prospects Of the company Tnere
were also two minor railroad stocks which
moved upward These sustaining influences, how
ever failed TO hold the market and the bulls sought
70 take profits with resulting losses in prices. which
reached to between ! and points in some :tocks.
The iron and steel industrials were conspicuous
sufferers on the depressing opinions regarding the
trade outlook by the mercantile agencies and on
the shutting down Of the mills Of the steel and wire
company. Sugar was comparatively dull. The bank
statement proved disappointing in some items ana
mystfyins in others. and turned the sentiment To-
wards reaction tho close being heavy and unset
tied 4 declining scale
There has been some slight stirring Of speculative
interest in the stock market during the week, and
show az strength arousng in the minds OF pro-
fessionai trades hopes that the market was on the
eve OF an inflow of capital into securities sundry
causes have contributed 10 the modcrm Of strength
in stocks during the week. The midweek holiday
prompted 10 the covering Of traders contracts. and
70, some time past, the covering movement having
the effect Of lifting prices. Evidently the shorts
we're nonplussed over the eauanimity with which the
stock market had accepted the large brokerage fail
last week and the smaller one this week. and
they thought it safer 10 cover. On Thursday morn.
ing came the that Johannesburg and the gold
mines were in British hands again, and the report
that Pretoria had yielde without a struggle. At
the time there renewed speculativce ex-
element in Sugar the news OF the arrangement
for taking certain Of the independent rehnerie
in the interest Of the American Sugar Refining
Company The response Of the worlds stock mar
kets including London, TO the news OF the col.
lapse Of the Beer defense and the expectation OK
the near ending Of the war in South Africa was
very moderate. This must mean that the event
had been pretty fully discounted in prices, or there
must have been causes in the background to eIer-
else rspressve Influence. The strength OF the New
York stock market must be explained by domestic
causes one Of the most potent Of which Is the bet
ter tone In the markets for iron and its finished
products While the reactonary course OF prices OF
iron products has not ceased there is reported some
increase Of the hand-to mouth buying with which
needs have been supplied, owing to the bare con-
ditons Of consumer yards. This Is believed TO
presage resumption Of buying demand and con-
hdrnce Crews that the consumptive requirements
will prove sufficient TO maintain prosperous con-
ditions in the trade in the Southwest and West:
The good progress made by the winter wheat and
other crops has given strength to stocks OF rail
roads running through that region. In the bond
market there has been some improvement in the
demand and in prices as result of the accumula-
ton Of idle money and the apathetic demand for
funds At the money markets The volume Offering
Of we'll secured bonds ia small and prices advanced
easily without any considerable demand.
United States refundng registered p, when is
sued and the Is declined and old Is registered
and s. l.