The San Francisco call., 1897-11-11
NEW YORk STOCK MARKET.

NFW YORK. Nov 10.-Prices of stocks to-day
made very substantial recoveries TOW ard the
level which prevailed before the heavy d cues OF
last y onday and Friday. ihe buying was strong
and confident, and the upward course of prices,
except IN few cases was pit
ed all day uutil some profj-taking a. the ciose
brought recessions from the st prices. The fac
tor Il greatest Influence was the decision of the
APP ellate division OF the SUpreme Court at Albany
IN The matter OF coal trust inquiry. Reports of
This decision had it that the decree OF the lower
court in revoSing It's own order compe ling the
coal trust presidents 10 appear before referee had
been affirmed
AS The IoweG court, in revoking this order had
dis incty EXPRESSED its opinion that the soca!led
antitrust law unconstitutional it was in ferred
thatto day dec.s on had also denied the constitu-
uona.IE OF the law. Apparently his inference
"as maIilalued IN the STOCK market until the
rs- OF trading, although court O tiuctIy s
aims that 1t IS passing On the coustituIionaltty
OF tnr law, as i IS not necessary Tor the absolute
de eTmlnatlOn or the question before il. However
the Wal-,treet Interpretation OF the decision gave
a very strong UpW ard impetus 10 al stocks al
fected by the law.
The coaers were most markedly affected as
bel the subject OF the specia suit uuder trial
and they showed gains extending TO 312 points in
the case OF Delaware and Hudson. Every indus
trlaI STOCK on the list was also Sharp.y affected by
this eIOrt in OF the that the statute was
understood 10 be directed against these great COM
blnat oDs Of capita. ot-on Oil preferred was
hea ehted TO he extent OF points, tobacco 31s,
su-ar nearly points and Others 10 the extent Lf
a point or over. But Jhe strength OF the market
was by 10 means confined 10 these stocks. though
the genera strength IN part 10 ) YIN path y
with h m.
Much made OF the declaration by the span
lsh Prime Minister TO the friendly intentions of
his Government toward the United States and
ports from " ashingLon OF the satisfaction which
seemed 10 b. fet by the President and members
OF The CaDiu-t over the spanish reply to United
states Minister W Oodtord'5 The returns of
railroad earnings for the first eek Of NOvem Der
showed d continuance of heavy traffic where the
cotton movement IS augmented bV release from
quarantine, tut in the West where the lal-
j. < on N The ain movement II ght cause de-
cHues IN earnings. There were quite extensive
purchases in this market for Lonuon account of
several International Sto KS, u Paul, however
Lelng soli Tor that account. The whole spirit of
the trading dist ,ctly bCllish, aud gains of q
point CT ove- are frequent Throughout he list
The total sfIes for he dAv were under 400 coo
shares, and ever one-Curth Of these were of sugar
Burlington and st. Paul
n the bond market there was considerable ac-
tiVi,y and prices advanced in sympathy with
stocks Total sa.es, 1900, O. United states
new As coupon were advanced "A lid.
Total sales of 81 cks to-day were 397 500 shares
including AtchIson preferred 517S Chesapeake
and ohio 90 s. urlinBton PIT o. Louisville and
Nashville 10 304 Manhattan 1910 Missouri Pa
clfic lU,O44 New Jersey Central - 507, ew ork
Central 4473, Northern Pacific preferred g. 5S5
Northwestern 1865. Heading $500. Rock Island
25O45, It Paul 39,4l0 southern Railway pre-
ierred 1895, Union Pacific IT ,9l5 Wabash pre-
ferred 1923, American Tobacco $50. Bav state
Gas J6 700 Chicago cas- 1880, sugar SO BAD
Western UniCn 43C2, Chicas o Great estern S755