The San Francisco call., 1897-06-22
NEW YORK EXCHANGE.

NEW YORK. n Y June 2I-The stock mar
ket opened easier. with the decline slight in the
leading railways The industrials scored the
more noteworthy fluctuations, sugar yielding an
extreme So per cent The offerings appeared TO
be renewal of Saturdays extensive realizations
and declines were N ost marked In the Grangers
Northern Pacific preferred and few of the
specialties There were momentary periods Of
steadiness Sugar was well supported at the de-
cline and recovered TO Saturdays close, but soon
reacted to the lowest.
The recetpt OF favorable crop ad vices from vari-
Gus sections created a marked demand for shares
after II O'Clock, which checked the reactonary
tendency of the market and carried numerous
shares fractionAIly above the Saturdays final
figures The specialties developed considerable
ener gy, sugar rising about point from the earli
est pt int.
The first aggressive movement in the stock mar
ket this week WIS made by the operators. who were
In favor of more pronounced reaction in prices
They ct with moderate success for about an hour
because of the absence of the usual accumulation
OF buying orders over Sunday and were sisted
In their short-lved campaign by fears that large
amount of gold might be exported tomorrow. As
q matter of fact the outward movem ent of specie
tomorrow is considerably below the estirn tes
formed by those best informed regarding tn, for
eign exchange market, consisting OF two consign-
m ents aggregating 81, $50 900, of which 81 .OSO-
050 taken from the sub-treasury to-day and
the remainder assured in the open market, There
are reasons for believing that some shipmenfs =
which were expected would be made tomorrow
have simply been deferred un Ill later in the week
The com narrative smaIlness of to-morroU,S az
port of specie, together with the publication of
au horttative statements that some progress had
been made for devislng plan for refunding the
hieh-rate interest bonds of the Chicago and North
western COMPANY tina, mature wi. hin the ne L t
few years turned the course Of prices. A little
laIer another favorable developms Mt came to
hand in the statement of he New York central
Company Tor the current quarter. La consequence
Northwestern, Omaha Common and New YORK
Central led in the recovery, which, however, was
limited 10 fractions, except in the three stocks
for q number OF stocks that have enjoy ed decided
advances of late, chief among them being sugar
Refining hicaso Gas and Jersey Central and
Consolidated Gas. still showed tendency to re act
The market as whole was narrower than il
hes been for many days past, there benS a falling
OF in the volume of professional trading as well
as in legitimate business. London was virtually
out of the market on account of the jubilee and
business there will be suspended entirely to-
morrow trustworthy Advices from Londo1 are
confidently as the jubilee is over. should
these expectations be realized the event might
aesjly have some effect upon the market here The
eioSrls was quiet and steady Government bonds
Money on call l@11z per cent: time money
30 days z per cent iour months z1z per cent
ak months q per cent eight months 3lZ per cent
on good mixed stock Exchange collateral Prime
tndorsed bills receivable, 3@o312 per cent: choice
and prime single names, 312(G4 per cent: GOOD
sterling. 81 S61 for long bills 81 SS for demand
Actual rates. long bills, 81 S614694 S6Iz; sight
drafts. 81 S714G4 S71z; cable transfers "a B7lA
"a S7S4. Domestic exchange New YORK and
san Francisco sight 1713c premium, telegraph
2Oc premium.
Money IN Lonoon IL per cent Rates Of dis
count IN open rarke- for both short and three
months bills 15-16e11 per cent Amount Of bull
lion gone into Bank of England on balance to-day
.03U00.