The San Francisco call., 1897-03-04
NEW YORK MARKETS.
Financial.


NEW YORK, n. Y, March 3.-The placing of
$50.OO0,000 31a per cent guaranteed bonds by the
Lake shore and Michigan Southern Railway ON
pany with the Speyer syndicate for the purpose of
refundng its ou standing obligations had most
favorable effect on the market for securities
day. The Significance OF this important negotia-
ton hardly appreciated yesterday. but upon
reflection operators took more sangnine view of
the matter so far investment is concerned than
for some time Naturally enough VANDERBILT
stocks were the first to reflect the fnancierlng OF
the Lake Shore bonded debt, and when they were
taken freely steadily advanced prices the whole
list sympathized, with The result that during the
afternoon speculation developed almost buoy
ant tone.
The demand for he VanderbiIts and other lead
ing issues urgent that the street entirely
ignored tie cable advces from London to the
effect that foreign markets were disturbed by the
gravity OF the situation In the Levant. The large
Nashvil e AM ether International stocks had no
appreciable effect, and the same is true OF the
heavy decrease in earnings reported by the st
Paul Com pany for the fourth week in February.
II should be added that leading railroad officials
expect an improvement in railroad traffic from
now on.
The announcement by President Havameyfr of
the Sugar Refinery Company that the annual
dividends common and preferred STOCK will be
declared b. directors at their next meeting
to large purchases of that s: ock and started up
demand from the ''shorts" industrials
The advance in prices was equal 10 12951a per
cent, The latter in Pullman, which rose to l64.
Omaha common adyanced u to 81, Consolidated
514 to 3O14 ana the remainder of the list any
where ON "A to per cent Jersey Central and
Manhattan were exceptionally heavy in the early
trading the selling down to 9334 and the
later 10 S534, but they both moved up couple OF
points during the afternoon in synlp pathy with the
other markets Near the close there was a uis-
position to take profits, but the market left off
strong at a reaction of rs to 12 from the highest
Ne changes show advance OF IA to Az per
cent Omaha leading.
In the speciAlties Pullman gained 21h. Nickel
Pla:e pr ferred 514. and Consohdated Gas 21s
Total sales were % Az shares, including 22.3 30U
Burlington, 22,U0U Sugar, Is 800 st. Paul. IA, 800
Omaha ana u 800 Northwestern.
Bonds were strong to-day. The sales footed up
dsed fves rose a. Cleveland. Cincinna.l /, Z nj
cago a4d 81. Louis consolidated trusts. PA; Flint
and Pere Marquette skies, 2; tulton Ele vated
first 70 urs, /: Fort Worth and Denver City first
SKIES 112; Lake Shore consol first sevens i: do
reg lstered second sevens 31a; Nashville Chatta-
nooga and St. Louis first sevens 3s; Oregon IN,
provement consolidated fves, l: ST. Paul second
'sevens, 3; Standard Rope and Twine skies, 11a
1925 sold al l23@l2314 and $1,000 registered hves
81 1i37s@l14
FLOUR-Steady, quiet Winter wheat grades
81 30@3 80; do fair to fancy SO 1904 so; do
patents, 81 60@5; others unchanged: Mime sofa
Gear, So 50@3 80; do straights, 81 % GA 80; do
patents, $4 1904 95; low extras. So 5O@3 80;
City Mills Saga 80; do patents. 81 S0@5 O5: Rye
81 b00z 2.
$3 2O@3 50: good TO choice So 6O@4
Rye flour. dull, at So 5092 IS.
CORNMkAL-Quiet, steady. Yellow western,
81 7O@l so.
BAKLkY-ouiet. Feedins, 26c bid: 2eizc
asked C. i. f. Buffalo; 3l12c C. /. {. track New
y ork.
WHEAT-spot market uIl, s4clower. with op-