The San Francisco call., 1896-11-05
SUDDEN RISE IN
STOCKS AND BONDS
Great Excitement in the
Exchange Over the
Elections.
United States Bonds Were "as
Good as Gold" at Any
Price.
ADVANCED SO YESTERDAY.
San Francisco Securities Go Up From
ST to So and Are Held
Firmly.
ADVANCED SO YESTERDAY.

The first flush of prosperity as result
of the election OF Mckinley came early
yesterday morning. 1t came not in mere
talk, nor in hoping for better times, but
in the most substantial and positive man.
ner known. The success of the Repub-
lcan National ticket and all it meant for
the Nation, made itself apparent to the
complete satisfaction of every body con-
cerned, and all that happened in the place
where the very securities of the United
States and of San Francisco were at stake
lin the Stock and Bond Exchange of
San Francisco.
The change was like bright sunny
morning after long, tedious spell of dark
and gloomy days. Where but few days
before, as has been asserted by several
bankers and stock brokers, things
were dangerously close to panic,
money was loose again, merchants,
brokers, capitalists and depositors in saw
ings banks were conrented in their minds
and easy about money. But in the Stock
and Bond Exchange the feeling was more
than mere contentment, it bordered on
excitement all day-the opposite of
panic, for the excitement had the nature
OF ratification combined with the pleas
ure of seeing securities rise with sudden
strides, the like of which was almost uu-
precedented.
In times OF mining deals, when nobody
knew what shares were worth from hour
to hour, there was no more genuine sensa-
ton created by the advance in stocks than
when yesterday the men of money un-
loosed their purse strings and eagerly
rushed after bonds and securities. Unit ed
States bonds were again in tremendous de-
mand by men who did not possess enough
of them; but the men who were the fortu-
nate owners. of these securities declined to
part with the bonds.
When the morning session OF the ex-i
change opened broker bid S109 for per
cent bonds Quarterly coupon OF. quarterly
registered) and $li9 for per cent quar-
terry coupon, new.
When the exchange closed Monday
| evening these were selling at $107 and $1l7
respectively.
But the extraordinary bound of 81 was
no temptation to the holders OF Uncle
| Sans bonds.
United States bonds at 100 and 119p'
exclaimed an enthusiastic bidder. "Wno
wants to sell at 100 and 1192"
"Sell United States bonds now, oh, no
they are IS good as gold, replied broker.
| "You must go higher"
The same astonishing rise took place in
| stocks which are part OF the securities oil
| San Francisco. For instance. Market
street Railway, Californiastreet Railway,
| Omnibus Railway, Spring Valley Water
Company, Sutter-street Railway, Pacific
/ Gas Improvement, San Francisco Gas
light stocks advanced from 81 to $3; Edi.
son Light and Power ComHany went from
li91S to 123 in the bids and sold for 1221z
Here is clear advance of something
like per cent. AS those stocks represent
securities of San Francisco it is easy to
conclude from their spasmodic rise thai
all other securities of the city would ad-
vance in a corresponding ratio. The ben-
eficiaI effect, therefore, may be imagined
Real estate itself must have felt the in
fuence with the result that the City was
/ far more wealthy yesterday in its value.
than on Monday. For the sake of com.
parison the following figures from the
| Stock and Bond Exchange bulletins O.
November and November 4 are here
given: