The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-03-09
NEW YORK MARKETS.
Stocks Closed Heavy and Dealings in
Bonds Were Light.

bonus w ere Light.
NEW YORK, March S.-Two announcements
were made to-day OF serious import to the street.
The first of these came from the reorganization
committee of the Union Pacific and was to the
effect that the committee had disoanded and that
all securities deposited with it would be returned to
their owners. This action is taken in accordance
with the agreement entered into for the deposit of
securities which provided that in case permanent
plan OF reorganization had not been agreed upon
by the committee by March the committee should
cease 10 exist.
The date was fixed as that for the adjournment
OF Congress, for the that the failure of that
body 10 act on the matter OF the company's debt
the Government would be a positive bar TO the for
NATION OF an organization plan. Congress failed 10
pass any measure of relief, and hence il only re-
NAMED tc carry out the agreement between the
committee and the depositing security-holders
The committee will not formally dsband until it
has returned ali the securities it held but its chief
functions are dissolved. There was no movement
in Union Pacific stock TO day, the only sale being
OF 100 shares at decline OF II per cent from the
preceding price.
The second notable announcement was in the
salap OF Joint circular issued by J. P. Morgan &
Co. here, and by which J. 5. Morgan & Co. of Lon
don declare that over 80 per cent OF the bonds of
the Erie Railroad deposited with them had as
sented TO the changes set forth in the circular OF
December 10 1894 and that they would act the
authorization thus given.
Ii IS generally accepted that foreclosure proceed
ings will be begun at once and that q stock assess
ment, variously estimated at from $50 to 800
Stock Exchange 90 for the common and 10 per
cent for the preferred. Sugar was again the star
actions were about one-third less than yester-
day The stock opened 1854 gain OF 10 on
last nights figures, rose to 97la reacted TO 9615,
returned TO 9712, fell back TO 961e, moved up TO
$3.50, closing 50 below the top price, but 81 per
cent higher than the final sales of yesterday
The buying was attributed largely to outsiders,
who il IS claimed, are determined to squeeze the
short interest. Canada Pacific, on sales OF 700
lowest OF the day. The grangers were also down
3s@5s per cent. The general market was in the
main heavy and At the close showed a depreciation
OF 1sGg 12 per cent.
The market closed generally heavy.
The dealings in bonds were light and prices were
tending downward. Sales 1904 900. Government
bonds easier. State bonds inactive. Railroad bonds
easier. Petroleum-strong; Pennsylvania Oil sales
none; April option sales, none; closed, 81 0S1a
bid Lima Oil sales, none.
Grain and Merchandise.
Wheat-March, $3.50.
Flour-Steady.
HOpS-Steady.
Wool-Steady.
oranges-Easy; California, 50 1898 %; Havana,
IS 50d4.
Pig iron-Weak.
CoppeerraaEEasy; brokers' price, SO so; exchange
Lead-steady; brokers price, So O21a ex-
change price, So 10 sellers.
Iin-Barely steady; straits, $l3 05@13 so.
Plates-Weak.
Spelter-Domestic, SO O21a.
Sales on Change; 200 tons April tin SI3. Ok
tons July, Sl2 95.
Cohee-OptioHs opened steady, unchanged to 10
points higher; closed steady at 5lO points net de-
cline. Sales 1000 bags, including: March, $40 10.
May, $14 65td14 20; June, Sl4 20: July STA S5'
and October, S14 so.
Spot Cofee-Quiet; Rio. No 7, l61bc; mild,
market quiet; Cordova, 1S34@l912c Sales none
sugar-Raw, firm. Sales, $4,000 bbls. centrifugal,
20 test at &c and 300 bags molasses, SO test at
duh.