New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-08
RICEs OF SAN FRANCISCO STOCKS.
Friday. August Up. m.

The extent Of business depression the un-
certainty and uncalled-for fear the damage done
TO confidence and trade by the agitation of UNI
sound financial theor g, finding adequate
reflection In security values. While It is true
that lower prices are brought about by bear
raids upon stocks no such opportunity would be
offered the bears II It not for the harmful
agitation Of the Popocratc element. There has
been absolutely demand for stocks and very
little for bonds. There has been support 10
the market. and the clique OF active. pernicous.
INSCRIPTIONS and unpatrotic bears has ham
mered and assaulted values until now in many
shares they range below the panic level of 1893
and under the Venezuelan panic level Of last
December The bears sent prices down to-day
1@7A per cent in the active shares No buying
power developed. and some forced liquidation
took place. Losses caused by business depres-
sion have made II necessary for some holders or
stocks to sacrifice their possessions. The return
to Chicago banks OF & part Of their balances
here for use In settling the troubles caused by
the Chicago speculative failure has resulted in
calling some outside loans in this market. fol-
lowed by liquidation IN stock accounts and fall
In prices The bears have profited by this, and
In a sensitive and unsupported market the
opera tors for short account have carried their
dongs to an extent where the values or
nrst-class Investment securities are far below
their intrinsic worth The men who are bearing
stocks are without fear or conscience PATRIOTISM
or generosity, far as their efforts in causing
heavy losses TO others are concerned. There ap
parently is no way to stop their depredations In
the stock market as long heavy interests
and we'll protected operators keep out or the
market and from to-day's course Of prices II
Seemed as II there were no way or prcdlc'hg
70 what limit their orgies would run The street
Is not In condition bordering upon terrorism,
but it is in a decidedly sensitive state. leaving
the market an easy prey for the vicious opera
lions Of bear speculation. Fortunately there IS
not large amount Of stock carried on margin,
and the majority OF houses in the Street have
placed their affairs in good shape. expecting
bear revel like that going on at present Prices
of some stocks broke more sharply to-day than IN
the Venezuelan panic. but operations were not SO
large and in comparison with that tliiie theIe
was little Liquidation outside on speculative ao
counts one large brokerage house ventured
the opinion that the decline had aboCt run
it's course; that the worst which might happen
had heen discounted and that very soon the
market would be dlscountng the good enects
Of the downfall Of Mr.. BRYAN and his party
Call money ran up to per cent. ana there was
q irmer tendency in time money ana IN CONNER
cial paper The declines In stocks caused con-
siderable calling for more margins on loans py
banks and It IS to be noted that such cars WeIe
ed during the day 20 the effect that there
was 10 be an issue of Clearing House certificates
INT this was merely a bear canard, TOT any one
with any possible information OF the financial
situation knew what there was absolutely no oc-
on sion for Clearing House certificates. II At any
tir,. the necessity should arise for these certl-
Ncates they could be issued at once. as the reso- +
luton by the Clearing House last winter author
izng them has not been rescinded. A groundiess
rsnort that Mr.. Whitney In an interview, had
Ia Tho. ne thought there was doubt about this (.
Gtate going for sound money helped the bear ele-
rnert IN re destructive work before Mr Whltneys
donial ~ the r,imor reached the Exchange Poo /
ME who sell these stocks AT present values are /
oL,np needless sacrifices and only assisting the +
h.ar element in filling It's pockets with profits
There were no new developments accouhtabie LOT
Iho break in prices and the only outside influence
was the decision against the Manhattan com .
pany's plans by the Rapid Transit Commission.
Manhattan the weakest STOCK on 'h' HclI'e
I'D ire closing showing a net loss OF per cent. /
sugar Refining lost ~ per cent; chicago ias, "12
,er cent Rock Island IL per cent burlington
~ per cent; ST. Paul. 27t per cent; Northwest,
per cent; Delaware and Hudson. per cent
,ouisville and Nashville. l1s per cent: CONSEQUENT
"a Gas : per cent; Lake shore IA per CENT
-ni,ed States Leather preferred, "a per ceIl'
,anada Southern. per cent, and Delaware
ockawanna and Western. AZ per cent In tte
Inactive list Morris and Essex lost /" per cen'.
lcw-York Lackawanna and Western 'H4 per
.nt: Erie first preferred. 3 per cent; Cl'veiahl
.incinnati Chicago and 81. Louis first preferr-h
~ per cent. and Hooking Valley prererred =
er cent The lowest prices we're touched hpo"t
Oon. ...,,,
In the afternoon there was rally on covering
" shorts Of LAP per cent but the close was uh-
ettled and feversh. Total transactions were
~ ~; shares Of which Sugar Refining furnlshen
3 342 shares Chicago Gas 1GOA2 shares BUR
nrton ~ COO shares St Paul 1882 shares,
..o,.,,,ti. - NashvtIIe 10 80 shares. Manhat-