The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-08-07
NEW YORK MARKETS.

NEW YORK, n. y, Ang 6-The stock market
opened active and Irregular, the changes being
quite vide in some stocks. The leading raj way
shares showed gains extending to "a in Burlington
heavy purchases. Values OF the active stocks ad-
vanced Sharply, the apprec alton in Specialttes
being gu te sensational. The encouraging gross
trafhc statements TO hand, expectations of more
favorable exh!bi and the rally in the wheat mar
ket were he Chief factors in favor of the bulls.
Inc market ignored the heaVnesS of the Londo
market and showed wide variety of shares dealt
in. Con Gas rallied Az TO 1909. Sugar recov-
cred ! n. Burlington displayed tn most streng h
among the prominent railways and touched e2L5
Near II o'clock The market showed an easier
tendency under profit-takiug.
The reactionarY ten :ency was soon checked
and general recovenes enSued. the rally being
stimulated by the announcement of a further re-
duo ion of IL per cent in the posted quotations
for long ana sho sterling. the investment
stocks were in good demand Pullman ga ming
per cent. The failure OF the bears 10 reach any
DECIDED erect on values by their spasmodIc at
tacks on the market caused considerable nervous
ness among the shorts, who covered freely. The
bond market disp aged some strength, but wa $
less active than of late.
he vo ume Of business on the Stock exchange
again a notably large scale today In
early dea ings the highest range OF prices vet
established in this movement made The
market for The remainder of the lay continued
active, but irregular in tone The continued llqui-
datlon on large scale b. for ign houses, IA
ton OF profits Incidental TO the close OF the week
and the aggressive selling for short account were
the features of dealings. and togetn er they aboat
tffset The new buying of the commits sion houses.
Best N aintalned advances or the DAY were made
in New y ork Central, Manhattan, Western Union
and Chicago and Great Western. Among the
specaltes sharp rises took place In Illinois Steel
PiIsburg. IIncinna4i Chicago and ST Louis The
latter was presumably influenced by the general
plan for the refunding OF the obligations OF The
Pennsylyana Railroad and / $ cont oiled com
pants The MISREPRESENTATION of the steel
trade and the stronger financial position of the
company explained the advance in illinois Steel.
Fairly active dealings were noted in the indus
trial division, where the rapid vance of United
ates Leather preferred made that STOCK con-
splcuous feature.
AS 1t was yes. erday the reactionists in the mar
ket were indisposed allow their contracts TO
main open over MI hit, and on buying .or that ac-
coun. the general market deve Oped e.
n-Wed strength IN latter dealings The recovery
IN the srald market ana the pronounced weakness
ofsteriing exchange were the moat important
features in the general situation. In the foreign
exchange situation the most compe ent judges
have concluded that definite I. ndency toa ard
lower rates mas row set In that will scarcely Gull
inmate before he importatons gold under
taken so far as current indi atoms reliable
the hitherward movement of gold may begin