The San Francisco call., 1897-07-29
NLW YORK MARKETS.

NEW YORK, n. y, July 2S While there is no
definite explanation OF the reversal OF the tone of
the stock market to-day, the upward movement in
prices resumed amos. from the opening OF
business 80 long the grain situation remains
at Its present phese II Will hardy be necessary
lurnish special reasons for the Improvement in
prices, the market did leave OF the irregular
zone OF the past two Gays perhaps the weekly
grain report may be ci ed the most direct in
huence The report is d,sproved OF the recent UNI
mers crop being damaged through excessive
moisture in the Northwest. Reports furnished by
Western roads OF IL ike tenor and the grain
market was stronger, with continued heavy buy
ing by exporters. Now that crops entering
upon their critical period it is Kely there may
recurrent scares of one kind or another and in
deed, they constitute about the whole of the
naiLing ammunition OF reactionlsts; but the
passing OF each week reduces the possibilities OF
danger, anu only portion Of the crops can now be
unfavorably affected by weather conditions.
The marGet was very active throu ,hout the day
and a large number of different securities were
dealt in. The usually active stocks and granger
group and industrials were dealt IN on large
scale, but the equal degree OF interest was ap,
parent in Atchson Reading Missouri Pacific and
Kansas and Texas shares, while number of other
hitherto dormant stocks were taken up and ad-
vanced Notewor by advances were: Atchison,
Missouri Pacific southern Railway preferred,
Oregon Navigation, Rubber and Cotton OH.
Anthracite shares again showed decided strength,
and the recent rumois OF new developments in
that industry were again current
Trading in he stock market at the outset showed
some hesitancy, but the variations were generally
not marked. he indusrials, however were
generally lower, with losses extending a point
recession IN the London prices for \ rricans The
Ouils soon Issued supporting orders their favor
ites under the pulse of which values appreciated
erially in some OF the speciaties sugar rallied
TO 1873.
Reports Of strength and animat on in o;her
hnaLcial circles we're received which contributed
TO the more confident feeling Selling for foreign
account vas ignored. and although expectations
were current that large gold shipments woud b.
made toward the close OF the week this factor
created no uneasineSS owing TO the fAy rabIe
agricultural position this country has assumed in
relation. W mi
speedily result in a return flow OF the yellow
metal.
The heavy liquidation of the past few days re-
suited In the shaking out of considerable W, akly
held stock and the development Of marked snort
interest which embordened aggressive movement
by tue bulls who aided by heavy commits
sion house purchases of tn low-priced Share,
The bond market sympathiz ID with the general
upward movement Atchison adjustment AS
touched 1894 on heavy purchases.
Government bonds strong; railways active
Money call l per cent: time money-6O
days : 1a per cent, three ana iour months Z1s per
cent six months per cent good mixed Stock
Exchange collateral. Prime indorsed bills receiya-
bic 312@3sA per cent: choice prime single names
33lG4 per cent; good names, 4Gp412 per cent
Posted asking rates for sterling, "a 81 for long
bills and $4 Ss for demand Actual rates: Long
bills ii S614G14 S61s sight drafts. 81 S714@
exchange New York. san Francisco sight,
l5c premium; telegraph, 1712c premium.
Money IN London, 14913 per cent Rates dis
count in open marker, both short and 3month bills
A97s per cent.
Wheat and Flour.
WHEAT IO:3O il 100 1900 90 2aO
ssptem 6ef 781s 1855 as5s 1914 s ssis SsS. S
december. sOIs sO3S sO1s s0$4 1915
ern spring New York, S6@s614c; No 2
haid wint'r, S01ac; No. red. Sl1lc; No hard
spring, s914c.