The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1897-05-15

Reduced Southern freights here have
not altered the market materially, and
at Chicago also the local prices have
been reduced. The demand for finished
products has been below the capacity
of works in operation, and the award
for the contract for the Montreal
bridge which is said to be at 80 cents
for beams, against 81 SO demanded
from consumers in this country, has
occasioned trouble in the Beam Associ-
alton, and there are reports that it
has dissolved Angles are quoted at
90 cents per 100 pounds, a shade lower,
and steel plates are quoted lower here
than at Philadelphia.
Copper is active, with large sales OF
lake at SO 80, and tin plates are
quoted 10 cents below prices fixed by
the association, and 80 cents below
prices of the same grades of foreign
plates.
Wooden goods are doing better than
for weeks past, and yet there is not
enough demand to create enthusiasm
or to raise prices, while there is great
uncertainty regarding the future of the
market. Sales of wool have sharply
decreased, and for the week barely ex-
coed weeks consumption, while prices
are weaker at Eastern markets, accord
ing 10 some reports nearly l cent per
pound at Philadelphia, and at the
West the heavy buyers for speculation
have begun to sell at some concessions
with good reason.
NEW YORK, May 14-Bradstreet's
''Stock Review tomorrow will say:
lot 10, in, hoe q
simply an exchange of contracts be-
tween professional operators, and it is
also somewhat evident that the large
class of stock market traders are in
clined to wait, and take little general
interest in the proceedings. Uncertain
ty about the issue on the tariff is a
principal factor inducing this heSitating
spirit, and at the end of the week the
revival of the Cuban question at Wash
ingtOn in a form which it is thought
may result in action by Congress or
the Executive, and the additional pos
sbility of embodiment with Spain, has
had further depressing influence.
The more cheerful tone of the London
and Continental markets, ON the belief
that the war between Greece and Tur-
key would be brought to an end by the
Powers, was reflected here early in the
week. 1t did not however, result in any
Improvement in the foreign interests
in Americans, and advices from abroad
go so far as to state that the public
professionals in London are inclined
to ignore our securities.
At the same time there has been some
foreign buying here, presumably for
Continental account, which was main
ly confined to an inquiry for low priced
stocks and bonds of recognized roads.
Union Pacific shares figured more or
less in this connection.
The gold shipments for the week,
amounting to 900, are naturally
regarded as unfavorable, showing as
they do that despite the lower level of
exchange it is still possible for Con-
tinental Governments and bankers to
attract specie from this side
Among the favorable factors of mo-
ment, the spring wheat outlook de-
serves the first place, and is appar-
emily responsible for the show of
strength made by the grangers' stocks.
Western railroad men are quoted as
being sanguine over the prospective
magnitude of the yield, and the street
large foreign demand for breadstuffs
will result in relatively higher prices,
and thus benefit the agricultural West
The buying of stocks has, however,
been of a very limited description, and
commission houses are very idle, thus
showing plainly that the public is out
of the market. While the selling has
been mainly for short account, it is
Cuban question has brought out quite
a large amount of long stock held for
speculative account. On Friday the
market was limited and dull, prices
declining on small transactions. At the
close there was a somewhat better tone
and slight recovery, on limitations
that the seriousness of the Cuban sit
uation has been exaggerated.