The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-02-05
NEW YORK MARKETS.
No Call for Government Loan Has a
Depressing Effect.


NEW YORK, Feb. 4.-The fact that the Score
tary OF the Treasury had not issued call for pro-
posals for the new Government loan this morning
had depressing effect on the share speculation.
This feeling quickly reflected in the Inaugural
ton of a sharp selling movement, which continued
in force during the first hour and led a very gen.
eral decline, ranging from 1s to ia per cent the
latter in General Electric, which was sold down
also in expectation of unfavorable decision in
pending litigation. Chicago Gas broke 10 the de-
cline being assisted by reports that the negotiations
for settlement between the interests contrasting
for control of the company were tagging. Rock
Island and Louisville and Nashville lost /, Bur
lington and st. Paul IS, Northwest ss, and Sugar
~ per cent.
per cent in Union Pacific, due to liquidation for
both home and foreign accounts induced by the
practical defeat of the funding bill in the House of
Representatives Saturday. Dstilling was bought
freely on the announcement that Judge Grosscup
at Chicago had removed President Greenhut from
the reeeivership of the company and that two re-
ceivers had been appointed who had no previous
connection with the company, one OF whom was
selected by the New York stockholders. An adj
vance Of IA was made in the stock, OF which 10
had been lost at the close on realizatons of profits
by small traders.
About II O'Clock the temper of speculation in the
general market underwent change, the street
having recovered from its early dependency, and
resuming its faith in the anticipated bond issue
being helped thereto by the decentralization of the
sterling exchange market which testified to the
belief OF the foreign houses that the bond issue
would not long be delayed. As a consequence
prices mounted up with buoyant step, sugar adj
vancng 215c, Chicago Gas and Northwest I1Ac
Louisville and Nashville 11jac, Rock Island l1lsc
Burlington, st. Paul and Western Union Ic Union
Pacific 34c, and the rest of the list 1s11sc. There
was some fractional reactions in the later trading,
but the market as rule was strong throughout the
afternoon and closed in good tone.
Columbus, Hooking Valley and Toledo was I'M
usually active and touched 201s the highest point
reached in long time, which is gain of Ala over
last Wednesdays price. The stock closed within
1s of the highest.
The bond market was depressed in the morning
but in the late session there was general recoy-
cry in unison with the strength of the share spec-
laton. The total sales were $73S,000. Government
frmer Petroleum strong; Pennsylvania Oil sales
none; March options, sales none; closed 81 OIL
bid; Lima Oil, sales none.
Grain and Merchandise.
Wheat-February, 5615c.
Flour-Steady.
Hops-Quiet.
Oranges = Quiet; Fancy sound, SO 5O@4 SO;
Others $293 70.
Pig frongouiet: Scotch, $1s 5o@2o; American,
So 50@12 so.
Copper : Quiet. brokers' prices, SO s71s; Ex-
Lead-Quiet; brokers' price, SO 021s; Exchange
Tin-Easy: straits, $13 70; plates dull
spelser Weak id domestic IS 70 Sales on
$13 %; % tons to February 20, at Sl3 10; 20 tons
S. o. to April 3d. at sl3 10; 10 tons 8. O. to July
l, at $l3 10; $4,000 pounds "copper" 80 so; $4,000
Coffee-Options opened steady with December
unchanged and other months 5@15 points lower,
closed at unchanged to 10 points net decline.
$14 206114 Is: September, $l4 15@14 IS; October
$l4 20G14 %; November, S14 10: Decembe
1926
Cordova, 1S34@191Ic sales. none.
Sugar-Raw, quiet; refined, quiet.