The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-03-16
NEW YORK.
The stock Exchange.

NEW YORK. March B.-The principal interest
in today's stock market cen.ered in Sugar, Third
Avenue and Burlington. The rest Of the market
gave evidence Of some disappointment over the non
effect Of the currency and Iefunding law. Prices
were sustained for a time bv the strength az the
three stocks mentioned and from others les prom
inent. Burlington was most consistently strong ard
gave evidence Of manipulation, said TO be by a pool
formed to advance the stock. Its extreme rise was
q. 1t had the most effect ON the other grangers.
but served as a tonic on the whole Of the railroad
list. The iron and steel stocks as a group were in
ciined to hrnness on the confidence expressed by
Third Avenue was feverish and active all day. It's
strength was attributed by many to operations
against a large outstanding short interest and the
stock advanced at one time above 10. compared
with 50 on a drive at the opening. The violent
conflicting opinions Of spectators In the stock. 1t
closed with a net gain q q. Sugar was not so
cratic and did not move over so wide a range, but
It's extreme rise q 81, after an opening decline,
gave way 10 reaction in the late dealings and IL
closed practically unchanged. There was a decided
inclination 10 throw over stocks by tired holders
in the late trancations and the closing was quite
active and weak. the earlier gains. except in a few
cases, being wiped out. Reading first preferred fell
sharply nearly 2 points ON the reports by trade an
thonties Of softness in the anthracite market Peo-
The general expectation of n poor bank statement
was the underlying motive for selling. The rate
for loans was rather easier than yesterday. under
tho influence Of the dividend disbursements. The
prevailing rate was 5 per cent. and loans were
made at per cent New York exchange. at Chi
with &c yesterday, and there was a similar move
ment at other points. But the subtreasury made
tIlpfher idTEe ufAtt on the casn resources OF the
banks, bringing its total Withdrawals for the week
thus far up to S.T23.o0.
A the surplus last Saturday was below S6, 900. 900
and the currency movement Is generally believed 10
have been In favor Of the interior since then. while
the loans Of the banks have evidently been fur
Their expanded. 1t Is difficult 10 believe that any
thing can be saved in the way Of a surplus for the
banks this week.
The report 81 a deficit is bound 10 have an
unfavorablc sentimental effect on prices. however
soon relief may be forthcoming from increased bank
circulation or disbursement II government bond
premiums. London sold stocks in this market. APP
psrently on account ~ the condition Of the money
market there, which Is called stringent and which
the statement. Of the Bank II England shows no
prospects II improving in the near future.
Business In bonds continued on a large scale, but
prcies yielded in some portions Of the list. Total
sales. par value, Sl,aD. 900.
United States 2 and new Is declined ! and the
old Is and IS l in the bid price.
Money md Exchange.
Money on call, firm. ad5 per cent last loans,
4 per cent prime mercantile paper, 5d5i per cent.
sterling exchange, irregular, with actual business in
bankers bills at is5h for demand and 81. sel for six
u days: posted rates. H.e2Aa3s7; commercial bills.
= slieptsli silver certificates. ~eotaslic: bar silver.
Solo; Mexican dollars. i7ic government bonds. weak,
state bonds. strong railroad bonds. irregular.