The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-11-14

prices would decline but how far the decline would
extend The question still remained unanswered
when the market closed. with speculative hduida-
ton still In force and prices the down grade,
except where professional shorts taking PROFITS
by covering their contracts As result Of the day
trading. prices in a number Of prominent nous.
Wire and Peoples Gas suffered declines OF from
TO points. and Metropolitan Street Railway icst
~. A sti larger list Of industzisls fell between
Losses between l and points. The more suostan-
tial commission houses in the street have been al
risng their customers for several days past to take
their profits and buy more stock for the present,
Professionals, except some powerful speculative pools
have sold out on very extensive scale and taken
buyers outside the street have been unhecdsul Of
their brokers' advice and have continued 20 buy stock
without much discrimination. Yesterday late m
crease In prices had the inevitable result which
amount Of advice could have, disccnrssins some
Of the outside demand. The extent 10 which the
advance had gone made the market as a matter
speculative accounts on light margins and backed
by weakening holders. Professional bear specula-
tors who have been alertly looking for the moment
Of reaction ever since Wednesday, found that the
freezing. for the first time. not efectuAlly abb
sorbed. Their efforts were redonbled and when
prices began to make wide declines, stop loss or
ders were dislodged and the fall thus precpitsted
The hears in more reckless mood and were
quick to take profits. causing frequent rallies As
they covered their short contracts While some
outside demand continued during the day, II was
at time resumed In force, The resumption Of
LorQcU
an enormous short demand for that account to be
covered. II London is stil short in the New York
market, II Is contracts due at some future set
Element. and the continued selling from there in
dicates an unchanged conviction that reaction in
prices viii intervene here before that time The
expectation Of another large loan to be float
ed in London depressed that market. and was
direct influence in New York well. II emrha-
sized the apprehension hitherto felt Of further Ger
government issue also. It Us not to be sup
posed that with the huge indebtedness Of the for
eign money markets to the United States the for
eign government authorities can hope to success
fully float their loans without assistance from some
other markets. and believe that outward Tow
Of gold from New York would probably be neces-
sary..
Business in bonds was large scale. and there
was free profit taking In demand and speculative
issues while others advanced strongly. Total sales,
par value S.770.0oo
All United States bonds declined u per cent on
the last call except the new fours which adj
yanced u per cent
Money and Exchange.
Money on call. 3isd6 per cent last loans. 80
per cent; prime mercantile paper. fh@5h per
cent sterling exchange. firm, with actual business
in bankers bills at sisi11@4s4& demand and
S.s0% 974so7s sixty days; posted rates Nsia and
As54 commercial bills 81 s@4, sou; silver GER
tifcafes. ah@6slsc; bar silver. sc: Mexican dol
lars. 0Kc; government bonds irregular; state bonds
steady: railroad bonds. irregular.