The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-02-21
NEW YORK MARKETS.
Subscription Lists Opened for the Ney
per Cent Loan.

Subscription Lists Opened for the New
per Cent Loan.
NEW YORK. Feb 20.-This was not active
day on the Stock Exchange, but the speculation in
the main was firm in tone, and majority of the
issues dealt in closed higher than on yesterday.
The attraction was the opening OF the subscription
lists for the per cent Government loan at the
Offices of 'lmont & Co. and Morgan & Co. Other
than subscribers anxious about the result, for
upon the success OF the loan hung vast commercial
well great financial interests, the credit OF the
United States being trial. The first news touch
ing the subscriptions in the bonds came from Lon
don in the Associated Press dispatches announcing
that the loan had been subscribed for many times
over, with subscriptions still coming in. This was
followed up by the announcement that the bond
holders here had closed the subscription books
within twenty minutes after they had been opened,
the issue having been largely oversold. The fig
ureS withheld until the aIlotmentS decided
upon, which 1t is expected viii be made public on
Saturday.
II is stated by member of the syndicate that
considerable more than one-half of the bonds Will
be allotted in London nasmuch as it suits the pur
poses of the syndicate be able TO draw upon the
other side for all the gold possible in order that it
might keep Its agreement with the Government TO
help keep the gold reserve intact and prevent with
drawals of the yellow meta from the treasury.
The rush Of subscriptions brought the bonds into
favor in the open market and they were bid up 10
lis, which Is premium OF 51a per cent on the
syndicate prices.
At the opening of the stock market firm tone
prevailed, but the trading was light A fairly good
buying movement was, however soon begun which
TeSulIeU III IIdCllOHdl pTONeIneul III more
active stocks The circulation OF reports that
heavy floating Indebtedness of the Chicago Gas
Company had been discovered led free selling of
the company's stock and 10 decline therein.
large traction of which was quickly recovered. The
OF the list withheld and in few cases slight
gains were made. During the hour preceding noon
the speculation strong for the leading shares.
In the early afternoon the market suagnant,
but about O'Clock an attack was made on tobacco
on the strength OF a report that lack OF harmony
existed in the board of directors, and the stock
gave way 21ac, with a final rally of SAC. New
Jersey Central, Northwestern, Manhattan, sugar
and few other shares gave way after action, but
there general reaction. The market was
decidedly firm during the last hour OF business and
closed in good tone.
There brisk demand to-day in the railway
and miscellaneous bond market, which resulted in
large volume OF business being transacted and
some material appreciations were recorded. Total
sales, Sl,0S5.000. Government Bonds strong,
registered SIS being up IA; DO coupon, ~; SIS regis
tered and As coupon 81 per cent from yesterday;
State Bonds inactive, Railroad Bonds firm. Petro-
leum-Steady; Pennsylvania oil sales none; March
option sales, none; closed, l041a bid; Lima oil
sales,