The San Francisco call., 1897-12-16
NEW YORK STOCK MARKET.

NEW YORK, Dec. 15.-To-day's market was
largely professional, and in the contest between
the bulls and the bears the former enlisted them
selves under the banner Of the coalers and the
latter made the local traction stock their N in re-
source. he fortunes OF battle shifted several
times during he day, and in the middle of the aft
ernOon the bulls seemed 10 have ceived a great
decisive advantage, the earlier marked osses in
some specia slocks having been almost entirely
wiDed cut, and the bears APP arenty driven u
cover. In the last hour of tradi z, however a
lerge number OF loans suddenly called an
in replacing them the call loan rate stifened
sharply 10 per cent. a. which rae a large
amount OF money placed
his inJuced liquidation especially in stocks
which elded profit the day advance. 1 he
bears thus encouraged, renewed their attack on
The speCiaitieS Viii, mad engrOssed their atten-
tlon al. day and uncovered stop loss orders the
way down. As a 1nsequtnce he ids OF bate
was turned comp ete.y md victory lay wi h the
bears a small part of he days large gains were
lett ia some OF he stocks which had shown most
early strength, but in other leading shares early
gains were rep aced by are losses he scarcity
OF moHey IS due % operations looki g u the pay
ment tomorrow OF an instaliment of about
&c, 500 OOO the Union Pacific sale
The previous payment, OF this account, amount
ing 10 over $3.50 1000 have been lef: deposit
IN New lork hthkN bul to-morrows payment
viii 90 direct into the Treasury ard be removed
from The money market. Two additional pay
ments OF an equal amount remain 10 be mad one
on Decem Der = and one on January 5, and this
viii also go directly into the Treasury. The pay
ment by the Government on December "a OF ne
maturing Pacific bon s, which amount 10 over
$29OUO,UUO VIII be mad by checNs psesumab V
The New York deposits 10 the Guvernment's S
credit. he movement of currency continues
from York this week, indicating a still
further decune in New YORK "a IA reserve.
The tone o1 sleg ing excha ge wa somewhat
easier Today, but d not spond in IA marked de-
gree 10 the hard-nt & of the money markei. tine
loans for the shorter -rICd also stIffened appre
CabIy. The early strength in the lays stock mar
IA aided by the rise in the price of coaiers
due to repOr.s Of agreement to restrict the out
put next year. he Northern Pacific stocks wer-
a a center of strength, the preferred ad dvancing
d time IS aud the common nearly u point.
Eeports from London anu .he Europe bourses
showed a good 1emAnd there Tor those stocks
sugar lraded in ex-divtdend and time
ng the day show d recovery of one-third the
divid nd, but in jhe la er dealings II succum bed
quite asiy and lost over points the day.
he bond market firm At less active prices,
and the active list was only about steady. Some
OF tn high priced issues showed snarp advances
Total sa,es, s3DUOOO.
CniJed states As iined, 1s bid.
The total sales Of SO ks to-day were 46O,-
500 shares, including: 1910 shares Atchison.
u 300 preferred. 30 9sS Burlington, t6lO
Loui lie and Nashville. $50 ManhatIan, 81 U
Metropo itan street Hallway. ol60 Missouri Pa
cifiC, ZU3S New JERSEY enlra, ,37U Northern
Pacific ~, 25J 10 preferred. $3.50 K aiding, l23 y
kocH ISL nd, 80. 10 st. Pau 9495 outnern pre-
ferred, 3JUS merican Tobacco, 66ZU Chicago
Great Mestern, Il l67 Peoples Gas, a, $50 sugar
642Z Western Union.