The San Francisco call., 1897-09-23
NEW YoRK STOCK MARKET.

NEW YORK, n. y, Sept 22.-To-day's trans
actions the Stock Exchange resulted in the
recovery of the greater part of losses sustained
In yesterdays sharp reaction, many stocks closing
tonight higher than Monday. During the eaIller
part OF the day the market was extremely irr GU
lar and uncer ain in tom. number OF specialties
continuing TO show marked weakness even after
the railroad list had recovered from its react on
ar tendency. But by the second hour of II. ding
the bears had practically abandoDei their efforts
to work reaction ana the whole market was
tending strongly upward The manifest dl>pCsi-
tion of ondon operators and of commission house
customers TO buy stocks at a decline here afforded
support to the market that discouraged he
bears
The nervousness over the hardening of he rates
for money also largely subsidized the shifting Of
loans developed more accurately the true level of
the money market. The rates for call money con-
tinued to run as high as per cent, but ia as
rates were marked up to 4 per cent there was
abun uant supply offered at low 2 per cent.
This not gard5d indicating a stringent
condition of the market The high rate was not
believed to be justified by the condition of the
market, and the failure of the exchange market
TO respond with any marked weakness to the 4
per rate went confirm this view. There
was marked reaction during one time Of the day
due TO the sharp protit-takins in ROCK Island on
the announcement OF the declaration OF a l per
cent quarterly dividend.
The receIt rise in Roc Island wa accom- paa led
by some irresponsible rumors that the dividend
rate would be increased TO per cent some of
the sellers of he stock progressed disappointment
that the rate was only made per cent. and the
pears used this as a material for another drive
against the market But the strong recovery IN
Consolidated Gas nd Brooklyn Union (the former
rising II points and the latter t3z tended TO
steady the market, The reports OF an engage
ment OF gold for import were vague and not def
niteiy conf med ntIl the close OF the market; but
the rumors current served to rally the whole
market strongly and bring prices to the best of
the day at the close
There gains in all OF the active stocks
ranging from l 10 points. Bankers agreed that
there was no profit in the Importation of gold at
the ru ing rates OF exchange here and of gold
abroad and the banking house which has engaged
the gold Tor import lntimAtes that 10 ha,
been unable 10 do so owing some special ad-
vantage secured, althoughdt was affirmed that it
was mace IN the reg lar course Of exchange busi-
ness. The engagement is not considered as iudi
eating that a further N ovement of gold will i'm
mediatey fol ow without further decline In the
during the day were: Consolidated Gas lila
Union Gas 5s4, sugar AZ do preferred Il
Brooklyn Transit t3S New Jersey Central 33s,
an Northwest Omaha and susquehanna, and
Western preferred IA each.
The bond market showed some falling OF / n
activity, but prices were strong except in the
st&11ard rope issues OF these the skies lost 6
poznts and the incomes l12. Total sales were
81, 5000 QUO.
The total sales Of stocks to-day were e24 500
shares, including: Atchison $780, do prefe rred
l6.55O, Chesapeake and ohio 1908, e.. B and @,
46,02O L. and y. 1880, Manhattan 1850, Mis-
souri, Pacific 1850, NJ, K. and T. preferred $3.50,
New Jersey Central 1880, n. Y. central $3.50,
Northern Pacific 5000, do preferred 1850,
Ontario and Western $3.50 KeAding $3.50. Rock
Island 35,0lO 81 Paul 54,b5J. st. Paul and
Omaha 59Z1, Southern Railroad 5000. do pre-
ferred 443O, Union Pacific $3.50, u P. D. and u.
9lUO, Wabash preferred $3.50. Wheeling and Lake
Gas II $50, Chicago Gas 20 $40, Consolidated Gas
$3.50 General Electric $3.50 Lacede Gas $685.
Lead 4392. Pacific II all 90, o. ugar 81 $50 T. e.
and J. $3.50, United state. Leather pieferr- d
$500 Western I nioa 1920 Caicago Western
17,720. Total sales, 624,6-O