The San Francisco call., 1897-10-02
NEW YoRk STOCK MARKET.

NEW YORK, N ~, Oct 1.-The bulls made
their first aggressive stand to-day for over two
weeks, and .aftersa heavy decline in the earl er
part of the day they came TO the support OF: the
market, checked the decline and brought the
closing prices very generally above last: nights
level There was nothing in the news of the day
that could be counted more favorable than at of
the preceding day. orrwo and Ia sharp stiHening in
the rates for cali money during the afternoon
might be called distinctly favorable factor.
But 1t had no effect in preventing the recovery
and the close at practically the highest point OF
hilher this was because the per cent rate
which was asked was considered Artificial and
man1pulative OF because confidence was felt that
IL would result ip-the prompt importation of gold
10 relieve any probable strinGency. A further
lowering OF g per cent in the actual rates for de-
mend sterli4 TO 81 sO5s encouraged this view.
and the pr b 80 lity: of early engagement of gold
for imp .rIs WIS freely talked about to-day. The:
market was surprisingly irregular, prices of some
stocks moving up.and down by wide jumps, ep
parenty entirely ind ependent of any gener raj zen.
dehcy in the market. In the early trading the
raids of the bears special stocks in each group
was successful in depre sing the par icuIar group
and The whoe list by sympathy.- r.:
soon sfterward sustained buying on large
scale became evident and heavy covering move
ment by the bears fol owed, ''
+. Buying orders by the -commfssion-h houses also
had added 10 he streneth OF the market, outsid=
customers who had sold short joining in the cover
Ing moVemeet 4 here was IA marked change in
the whole tone of he speculation, the market be-
checking the advance and business showing
lYey. increase whenever the course OF prices
&urned upward. tIne railroad earnings reported
duri g he day continued to increase.
: a striking result of the recent sharp decline in
the price of silver was shown IN the ugust state
ment OF the Mexican Central. While the gross
earnings showed :aB increase of 81 l66 3SS the net
earnings showed decrease of $135,47S This
was due, the .officia explain, TO increased ex-
penses caused. By ehgherrRtes:of exchange on
the United States in purchase of material aud: in
other outIays. London was buyer in this mar
ket again to-day. Senfe of the stocks which showed
weakness early IN the day failed TO recover en-
tire y, but showed net gains rule rang ng from
attraction TO 2 per cent or over. "
Railroad bonds Ia led .tronglv after early de-
preston. Total es 81 200, ,906
UnHed States new As advanf ed Is bid today
Sales of stocks to-day were 503 200 shares, in
cluding: Atchis'tn preferrei s. .5S7s Burlington
40 800, &. and o.. 1880 L. and N.I0,525, Man
haitian l4,lz5,. Missouri Pacific 26 92U, ~: II.
and I. preferred $3.50 New Jersey Central $685.,
New TX Central $3.50, Northern Pacific 6Sr0,
do preierred 22: Sl0 AorthweS tern 1885, o. and
w. $500. reading $500, Rock Island div 3d.
0S5, st Pau SO EzQ, l. Paul and Omaha $3.50.
Southern preferred 11s400, Union Pacific lS 345,
O. r. ID and @. .4554 Wabash preferred 4l69;
American Tobacco 624o, CHICAGO Gas 60 500,
Con. Gas 5500 Lead 5000, iacific. Mail 4OOO,
sugar 20 1855, T.. c. and l. 1855