The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-08-15
New York Markets.

NEW YORK, Aug. laval street has again
proven it is not entirely safe to take for granted
that speculative movements on the New YORK
stock exchange certain TO be made up on lines
which PUBLIC opinion nigh. regard as logical Sc
quenee OF crop conditions. AS q matter Of fact
the street finds delight-In furnishing surprises TO
its habtues from which no profit ever accrues to
the outsiders Last evening the share market
closed strong and there buoyancy to the
late trading with promise OF increased strength
The tariff bill had been passed by botn houses OF
the national legislatures on lines LAID down by the
Senate, the bears were jubilant, trust stocks in
bad repute. The crop reports were more favor
able rain had tallen in the corn belt the grangers
were being brought back by the sellers of a few
days ago. The general situation improving,
sterling exchange was easier and the flow of gold
WAS about 10 turn Westw 'rd: These were the
conditions which confronted Wall street this
morning and as ii TO give still more rosy hue TO
the situation. the London mar6et came IN strong
and there were good foreign buying orders on.the
board at the opening.
It was expected that the first prices made should
be higher than those OF the night before, and as
rule they were. Some of the shorts were urgent
to cover and there was not little buying for the
long account The amateurs doubtless believed a
steady and healthy appreciation in value had set
In but the profess onal spectators the clfques OF
insiders, were not ready yet to let the mArket 20
of their hands, and SO the usual tactics were
employed check the upward movement which
has been in force. he sugar pool took turn at
hammerlng their own shares The secretary OF
trust had given out letter he had written de-
worth OF raw sugar, aud putting their
purchases only $4,000 900, thereby cut
ting down the alleged prospective profits TO a
comparatively Insignificant sum- It was Tumored
too that the free sugar bill dangerous. An
early advance of lac on the stock was quickly
viii ed out and break or SIS per was engi-
neereu with intervening rallies so as to let hold
of the shares down easily. A big stop-order
was caught the way down. for which very likely
the Clique was cunning. AT the lower fl ure there
was good buying and a recovery was made to
1875. the closing prices being 3s to l 81 below
the closing sale of yesterday. Sugar preferred
lost "a. The grangers opened higher except Tor
Burlington which was unchanged. The ranges
were fractional except in ST. Paul, which was up
"A he whole group took early drop, in com
with the rest OF the market, the entire list be-
coming uDsettle ed and huctuating widely in many
cases and with much frequency. The irregularity
tone was infused in the trading and rallies were
made which wiped out the early losses, and in .
majority OF instances advances were recorded on
the days transactions
The bond market vas strong and active all day.
and most issues were traded in largely. Govern
ment bonds firm: State bonds quiet: Railroad
bonds steady. Petroleum steady: Pennsylvania
Oil, sales nome September option sales none;
closed S012 bid: Lima Oil. sales none.
The passage of tariff bill caused break in
rates Of sterling exchange. Posted rates for
concessions OF 1ad TO "a actual business Arbi-
TRACE houses are IN the market sellers OF bills
drawn against purchases of stocks held for Lon
don account. IL IS not unlikely. therefore, ster-
ling exchange will gradually decline to the gold
export point and there Will be a return of gold
more speedily than has been anticipated
GRAIN AND MERCHANDISE