The San Francisco call., 1897-08-13
NEW YORK MARKETS.

NEW YORK. n. y. Aug l2.-The stock market
opened with a clear show of strength especially in
the grangers and bigh-priced industria!s. The in
ternatonal stocks were helped by higher prices in
London. Tobacco moved up IA, Burlins ston and
Northern Pacific about Ler cent Union Pacific
opened with sales OF 5000 shares from 121a to
1912, against II at last nights close. Sales of
5000 shares quickly followed prices from 1914
to l414.
The advance received considerable impetus
after the initial dealings, owing to the execution
an accumulation of commission house orders over
night, which incl I'D all of The leading properties
and sprinkling of the inactive specialties. The
gains were especially noteworthy. The low-prced
shares were heavily dealt in, with Union Paci fc
the feature. The Gould shares generally were
particularly strong. with Western Union and Mis-
sour Pacific in exceptional demand.
Speculation continued with great animation,
extending to the remotest recesses OF long neg
lected departments of the market y block of
Atlantic and Pacific shares was sold at 80 cents a
share. Sugar tended strongly upward TO a new
high record of l4S3s. he buying OF the usu ally
active shares continued in enorn Gus volume d
with the upward tendency unabated UnouI acific
reached point on heavy London selling, but was
we'll taken at the decline and rallied part a w.
Great Northern preferred rose 312. Sales to noon,
3S3. 500 shares.
such earnings as were reported to-day by the
Southern Railway, Louisville and Nashville and
Chesapeake and Ohio companies were sufticient
proof hat the business Improvement is not
fined to any one section or to those specially af-
tected by the movement of grain. The fist two
roads aIe not large carriers OF grain, and the in
crease In III e1r earnings Tor the first week OF
gust OF J. and 1S per cent respt ctively must have
resulted from an increase in gent raj traffic.
1t was a matter OF grea. encouragement indeed
that even the returns of the western and so-called
granger roads upon analysis show that the gains
being reported are due chiefly to the free move
meDt of NJ merchandise rather Than TO shipments OF
grain. he Increase in the earnings Ches a.
peake and Ohio was more than u per cent in COM
parlson wi h the corresponding week last wear
1ratfic returns for all of the I'M portant rail-
way comp mics which make weekly reports are
now AT hand and they add their testimony to that
OF the bank ciearances and other valuable and
significant STA istics bearing upon the improved
state OF the cOuntfy's trade.
Another large days business was done On
Change and another new high record of average
prices made. Interest was well distribuled "a
heretofore, and in a dition to those stocks which
recently have been the favorites in specuation
Sugar refining developed renewed activity and
large dealings were noted in Union Pacific, Denver
and Gulf AMI IL kanSas ana Texas shares. Among
the comparatively Inactive stocks sharp advances
were ed IN Great Northern preferred and Pitts
burg. Cincinnati, Chicago aud ST Louis. London
houses had large orders on both sides of the mar
ket and the balance were against sellers.
ArbitIage dealers reported. however, an increas-
ing scarcity of american stocks in the Lond on
market and were of the opinion that foreign
liquid zion was practically concluding. a notable
advance in Baltim ore and Ohio made this stoc6
conspicuous in the general circumstances AS
was the case yesterday The market did not retain
the full measure OF the advance up to the close
fractional recessious being not ed In a majority of
the list.
On light trading quotations for Government
bonds were firm. A large and we-distribute ed
business transacted in railway and miscella-
neous bonis and many noteworthy advances were
made.
Call money, l@2 per cent; time money 2 per
cent for 30 days 21a for so days, 3131a for three
and four months, S12 "a for six months
Wheat and Flour.