The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-05-27
NEW YORK EXCHANGE.

NEW YORK n. " May 26-Trading on the
Stock Exchange was dull at the outset, but the
values were firm, Improvements being shown in
international shares Northern Pacific common
fell off IL, while preferred gained 1s
Sugar was largely dealt in the higher level
An urgent demand BY the shorts carried Western
Union up n on a revived rumor that annie
able working agreement would be perfected with
the Bell telephone interests.
The market diplayed considerable animation
and strength after the first hour ma erial i'm
provements being shown in number of shares.
Purchases Of sugar were on large scale. the price
rising 10 1l6
taken place in Wall street since the beginning of
the weekresuted IN further covering Of short con-
tracts on the exchange to-day. There was also a
noticeable incre se in the volume of commission
business Another interesting feature WAS the re-
luctance OF professional traders to sell stock
advance with view OF prohting by the reaction
which many of them, Influenced by recent pre-
cedrnts, regard as inevitable. They were re-
strained from doing so by the fact that it has been
patent to many Observers all along that there is
no liquidation by aetna holders and that the bulk
of the selling has been by themselves A slightly
higher market for American securities in Iondon
counted for very little here, because foreign arb
ira ing houses appeared as moderate sellers n the
early advance. The more hopeful feeling that
prevails can be attributed in part to the belief
encouraged from Washington. that the tariff bill
III now be progressi ng rapidly.
The decision of the United States Supreme
Court that the Interstate Commerce Commission
does not possess the power to make rates has also
been efeetive in changing the temper or those in
teresteu in securities. Dealings in stocks though
Sonew nat smaller than yesterday, rather
b liter distributed in spite of the sales to take
profit in he latter part of the day large number
of Stocks closed materially higher than y yesterday
and the tone throughout decidedly stronger
The most extensive trading was in the granger
stocks, but rugar Refinery, Jersey Central Wes-
ern Union and Chicago Gas scored the most i'm
portant net advances. Atchison preferred re-
ceved even more attention than yes erday and
NJ ade pronounced progress toward a
higher Level.
The only stock tina: m de an unfavorabe record
WAS Baltimore and Ohio. The sharp decii ne in il
was accom- panied by the receivers report that
they had been Unab bic o MAKE the payments due
June upon the terminal bonis and several other
obligations OF the company. Five hundred thou
sand dollars in gold will be exported tomorrow,
making the total for this week $1,000, QUO, and
since tie present movement began, little more
than 5 600O,09U the shipment of which, less
than half being taken from the ubtreasury, had
no effect whatever upon the market he closing
strong slight receSsions from the best
prices
Call money, 11491 N per cent; time, 60 days, 2
per cent; and months, 21a per cent: and z
months, per cent, and months 81 per ent.
Money 10 London. IN per cent. hates or discount
in the open market for both short and mon. MS
Bills Is 10 per cent. Bullion Withdrawn from he
Bank of England balance to-day f16l
COO Domestic exchange on New York and San
Francisco sight, I71sc premium; te,e graph, zoe
premium. Government bonds were firm. Rail-
ways strong