The San Francisco call., 1896-07-22
NEW YORK MARKETS.
Financial.

NEW YORK. n. " July 21.-The announce
ment that the New York City banks had de
termined to place part of their gold the disposal
of the Government, thus restoring the treasury
gold reserve to the hundred million mark changed
the temper of speculation at the Stock Exchange
from weakness 10 strength. This had particu-
larly good efect in London, and the early cables
brought higher prices and numerous orders for st.
Paul, Louisville and Nashville and some of the
railway mortgages dealt in abroad. Estimates
place this buying high 25.0OO shares of
stocks and $5OO,0OO OF railway aud other bonds.
in addition TO these favorable factors, it was
stated that the banking interests work on a
plan by which it is believed that gold shipments
can be diminished. Varions suggestions have
been made, but nothing definite has been agreed
upon as yet. Even if he conferences on this sub
iect should come to naught, one thing can be re-
lied upon that is the city banks will do every
thing in reason 10 help the trade. Some bankers
even want 10 pla the entire stock the disposal
of the Government subject call by secretary
Carlisle.
This manifestation of confidence stiffened United
States fours of 1925, and the bonds advanced 70
l14i gain of "A from the recent low point. Buy
ing of securities WAS stimulated during the af,e
noon oy falling on in the demand for sterling ex
change and actual transactions in the latter were
reported nj figures quarter below quotations cur
rent at the opening. The decline IN the exchange
ought 10 stop exports for the metal on Tuesday,
and il probably WILL The gain in stocks al one
time during the day was equal 10 1z614 per cent
every prominent STOCK in the list participating In
The upward movement. The industrials granQers
and internationals were most conspicuous in the
rise Near the close the market suddenly broke
12G03 per cent, Burlington and Quincy leading
The slump was generally credited to leading
pear operator. Otner Dlg Burlington traders stood
aioof, however, and no adequate exclamation OF
the drop could be obtained. Speculation lei; on
Irregular aud in the weak. Net changes
show losses OF 146lSs per cent, except for North
west, General ectric, st Paul and Kansas and
Texas preferred, which gained 149l per cent
Lake Shore. however, gained and Minnesota
Iron 81 Total sales were 353, ,55q shares, includ-
ing $4,000 Sugar and 70,1OO II. Paul.
Bonds were firm. The total sales were 81 2lp-
QUO Atehison general ionrs rose TO "a; do adj
justment ia TO 1924; Louisville, ew Albany
and Chicago trsts, l12 10 ll2: Reading first pre-
ferred, TO 271s: do general fuurs, 2 to IA: Rio
Grande Western fourS to 6912, and Denver and
Gulf consolidated fves 10 20.
In Government bonds $l33 900 coupon fours of
1925 sold at ll31491l4. and $55, 900 coupon tiyes
al l1l3s@l1114. The tone of the market was
higher
Grain.
FLOUR-Weak and dull. Winter wheat Iovv
grades, ! 70@2 so; do fair TO fancy So 4OA
10; do pa ents $3 45@3 IS: Minnesota clear
81 40@2 so; do straights Sc 95@3 40; 40 patents
IS l5g4: low extras 81 700, so: city mills
So 80; do patents, $4GA IS: rye mixture SO 4OG
80; su perine, 81 60@3 10; fine, So. Southern
flour, weak, common fair extra, S2@2 go:
good 70 choice DO, 81 6o@2 80 Rye flour, quiet
easy, SO 40012 50.
CORNMEAL-DuIl, steady: yellow Western
- O5@2 10; Brandywine, 81 Is.
RYE-Quiet firm estern. 371a(03Sc o. b.
- BARLEY-Dull, 49 pounds quoted 32c I. o. b.