The San Francisco call., 1897-06-12
NEw YORK EXCHANGE.

NEW YORK. y. y. June 1.-The initial
prices showed improvements OF traction in the
leading shares Speculation was very animated
all through the opening hour with a general trend
upward. he leading international shares we're
largely dealt in, the purchases of Union Pacific
being unusually heavJ and advancing the STOCK
per cent Northern Pacific preferred moved up a
simiiar amount.
sutar touched 1884 on large purchases but
soon eased of y per cent on rea ling but with
out effect on he general market.
The bears made a determined attack against the
high-prced industrial shares after II O'CLOCK pre-
cipuatins genera selling movement. in which
some OF the prominent railway shares receded be-
low yes erday's close. Sugar was also hammered
effectively The concessions in the standard
shares were, however, for the most part small.
The decline was scon emmed by libers pur-
chasing In the Northern Pacific and Vanderbilt
shares and some Of the low w-pr ced speciaties Pa
clhc Man b. Ing prominent The market became
dui after the fret hour and prices were well sus-
laIned al the rally.
The upward moVem ent in the stool. n, arl,at h O .
acquired momentum that for the time is irr--
slstloIe one stock after another becomes active
ana advances are easily rejecting the paucity of
the oftruGs OF stocks ana the constantly lucrpas-
ing demand. Room ira lers continue to contest
the advance only to find themselves forced to
cover their contracts higher prices This "a
what went In the days stock market which
con inued strong and IN spots buoyant TTnon tha
opening OF bu IN s. large foreign buying orders
were executed, particularly in low-priced srock
the buying OF Northern PacIiics being on large
scale
Stocks which have been leaders OF the advance
up to his time lid indeed lag somewhat but ~ q
appeared 10 be rather of a diversion of in
terest TO other quarters of the market Than 20 a
surplus selling in their cases n, addi+iot' ~ -
Northern Pac fc the notably strong features we ~
NewH Ork Central, Delaware and II udson, ~ Louis
and ~an Francisco aud acific Mail but tbero
were nowhere any signs OF weakness. Only $500 :
QUO IN gold AIKEN for export, but in the davis
market very little attention was maid eithar .
shipment The preliminary treasury statement
OF ports for May OF he principal articles shows
tnat the general balance may soon be expected TO
p1I 3 TV fgN n RnIl nj
Sine Ju of last year The value OF exports Of
principal articles increased 50 .35l ,77O over the
pr ceding year. addition to This the purchases
of securities for European account mus soon cut q
figure in foreign exchange What WAS the most
tone of news from Wa,hiEgton which ind dcated
that he sugar schedule IS likely dspos ed Of
with unexpected CELEBRITY, OF other news OF a gem
eraI character there was very little. There
fairly heavy realizing by foreign houses the af
ternCon and the market reacted generally but he
close WAS hrm under the lead OF suga Refining
which sold at the highest prices reached IN two
years. Government bonds strong railways
strong, active Noteworthy advances were, Great
North-rn seconds. I to 70: Northern Pacific prior
fours, 20 to. to ss$s; General thTees, a TO 5b4a;
OREGON snort Line incomes Il. w. L, 70 TO 43; 81.
Louis and Francisco general skies 3s TO IL 81
General hves as 20 l003s and tours, 112 TO 6984
Money on cal l9l14 per cent: time money-60
and 80 days per cent, lour months 212 per cent
six and Sven months per cent; nine months
collateral Prime indorsed bills receivable 30
312 Der cent: choice and prime single names
312@4 per cent good names. 495 per cent
Posted ASKING rates for sterling, "a S6H2 for
long bills, 81 SO for demand. Actual rates, long
bills, 81 st$4g4 Se; sight drafts, $4 81:
change on New York and san Francisco sight
II 12c premium, telegraph 2Oc premium.
BradstIeets reI orts business failures in the
United st 4tes during the week 256, a ainst
~! last "ee~ and 234 for the corresponding week
Money IN LONDON IL per cent Rates OF dis
count in open market for both short ana three
bullion Withdrawn from the Bank OF England en-
bal ance to-day was $4,000