The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-09-12
THE COMMERCIAL WORLD

group were unfavorably affected by fear that tn e
ye low fever quarantine would interfere with
thelr raftc and also by the Government bureau S
report OF the untaTorable condition of the cotton
crop The effect was noticeable.
~ feature OF the day the sharp recovery Of
81 Yer OF 1sd u 25iad in London. and 1c 55c in
New YORK. This Was due to the tcision of the
Bank OF Fnga authorities 10 hold one-fifth OF
the banks reserve in silver Today's price is I'd
ABOVE The 'owest London price and Sbac above
the lowest in New York.
he week in Wall street has Witnessed the re-
sunni ton in force of he bull movem -nt the buy
ing throughout BY commission houses icing a"an
IN iulI Il ie Evld noes abundant also OF buy
ing on large scale Tor individual aud corporate
holdings capital.
There has been abundant liquidation of other
large holdings whose owners seemed content 10
take profits and whose belief is expressed that
prices in trading stocks have advanced as far as
warranted There some ground for the belief that
large ocKs of securities or reorganized COM
panleS which had come into the hands OF large
capitalists through The inemcers hip In unaer-
wiling syndicates have been ssed TO other
hands, or a'e bel 9 passed 10 other hands IN the
Cufr-nt boom on Wall rect
Offerings have ali been vel absorbed, whatever
reaction " as manifest being usuaiy recovered be
tore the t-adIng day was finished. The week S
speculate showed renewed activity ia rails DAD
securities, FFbiie the industrial specialies we're
less prominent. The manipulated ''uoosting''
of an Industriai stock which a a last
week, has been absent this week. except on Tues
day. tn f1rst trading day, when Northern racine
preferred WAS thus employed. development or
new fsctorS OF Strength in the general situation
has done away with the necessity for this daily
DraCer or Artln fal Stlmulant 10 the maTket- Oue
OF the most notable deveio Ients III the general
situation has been the growing interest in Ameri-
cans on the part OF the English AMI Continental
capital.
AS The London market is nearly stripped of
American curi;ies, much OF his buying has
been in the New York mar ket direct for the for
elgn account. the supply OF Americans in LoE-
doi has in tact become small that hey are
easily affected by manipulation, aid he conrse or
Their prices Is no longer accepted relia bic in
dlcatiou in New YORK that the large sales of
: merCan securities Dv foreigners have been in
cited by +ort Ign financial au horities and encOur-
aged aad aided by ARE bAn&IhC and financial IN
terests, with view 10 their effect in cbecKia g
gold experts 10 thit country
a Gold exports to this country and keeping down
the money rate in London re now fully admitted.
1t IS much doubted whether the eXpedients adopt
ed by the Bank OF ,lHnd to checs the outflow OF
gold ov contracting loans and raising the discount
rate Will b. much IOager successful. The bank Is
handicapped by Its OWN desire TO keep down the
money rate in order facilitate the of the
Indian Government ,oan. But the evidence OF
continued heavy bank clearlDgs throughout the
United states Is that being round in
business Tor The countryS surplus reserve OF
money This is supp emented by to-day's stat e.
decrease OF $7,O7SOUO in the stock of legal ten
ders indicates that The contraction in The
is due TO Inc demand for currency from the III
terror.
lie AtchisOn issues were the most active in the
bond market
Government bonds are "a to So higher. Total
bonds sales. SHOPS, 100.
The tOtaI sales or stocks to-day were 2SS, 1O5
shares, including the following: Atchlson pre-
feried, 1920; Burlington, II, Az; Louisville AMI
Nashville, 500; Manhattan, $500; Missouri Pa
chic. 900; NJ h and L. referred, llS2U
Nor. hern PACING preferred, 1882: Mort hive stern
31uUi headIng, 1879; nock Island, D. $50; ~
Paul, 1880; Paul and Omaha. $3.50; south
ern Railway preferred. 300; Union Pacific IL,
$40; Wabash preferrr d. $3.50: Bay stale Gas,
91OU; Lead, 32UU; sugar preferred S145; West
Ut