The San Francisco call., 1897-06-19
NLw YORK EXCHANGE.

NEW YORK, n. Y. June l8 - The bullish
3eellng was IN the ascendant In the stock market
throughout The opening hour, and on heavy pur-
chases material gains were effected in all classes
Of securities. The specialties were the CHIEF fea-
lures Sugar was maraed up to 1851. The i'm
provement in Sugar STOCK was aided by the
decided strength of The Sugar market further
advances being made in certain grades Of the
staple
The stock market developed an easier tendency
after II O'CLOCK on the announcement of shin
ments OF gold for Europe. ReaizatioDs were
freely made, bu; the offerings were well absorbed
and some stocks exhibited decided frmness
Sugar was quite erratic within a narrow range
Union Pacific active and receded almost
point. Losses In the railroad shares generally
were the more noteworthy, the grangers leading
the decline.
There was large interest to-day in the lower
priced stocks and practical all Of them were very
nrm Chesapeake and Ohio. Atchison st I.onis
and San Francisco and Su,quehannah md Western
became active to-day, and there 3 nothing i'm
CoInLnoh tween I'll these roads, the in erests is
plainly the evidence Of extension of the soec
ulatlVe spirit. The Increased dealings in this
group qld not draw away from the activity of the
general market to any extent and the drsItnrs -
sugar hennlng, chicago Gas and G anger shares
were upon d large scale Ibe tone OF the general
market is somewhat uncertain. There are three
or four heavy operators in the market whose deal
lngs are upon such large ca that when thev
close out accounts or shift position very co (.
siderable effect follows. 1t was common eosstn TO-
day thai yesterdays 3 buoyancy was due 10 the
marked turn about Of one Of these operators
Gold to the amount of $3.50 0UJ ,ilI be sbtnped
by to-morroW'S steamships, aud shipment for
Tuesday of $500 900 is announced. Il is thought
that tho engagements for Tuesday NAV r~ach
81 OOU O0O as the demand for eIcnanps aaeiSs,
the interest payments OF July ! is large and
drafts of Americ III tourists in Europe are now
heavy. The gold movement was not an appreci-
able influence in the market The curious mann
ulAtlon Of Sugar Refining the feature of the
market IN The morning. and the stock had no
table advance TO the highest figures n years
which followed by severe break on compar.
alvey light sales There was no particular news
affecting the stock, but it is clear tn best terms
the company can obtain in the revision of the
tarln 81 now known, and any SUBSEQUENT changes
will BE- for the worse. Chicago Gas was The most
steady feature OF the market. Government bonds
irregular. Rail strong
Money on call l@l16 per cent: time MONEY!
80 days per cent, TOUR months 40 per cent
on good mixed STOCK Exchange collateral Prime
Endorsed bills receivable. 3031za per cent: choice
and prime single names, 31aG4 per cent: good
names, 4(95 per cent Pos ed asking rates for
sterling, "a 30 ~ for long bills $4 SO for demand
Actual rates, long bills, $4 S61404 S61a; sight
drafts, pa S714@4 S712: cable tramsf RS, S4 S7lA
04 S7S4 Domestic exchange Oh New York and
20c premium. ~
BradstreetEreports 226 business failures curing
the week against 256 last week aud 265 the cor
responding week last year
Money In London 12 per cent Rates Of dis
count IN open market for both short ana three
months bills, 15-16tG1 per cent
Ihe weekly statement of the Bank of Germany
shows cash on hand increased 20 72u 600 rnarxs.
treasury notes increased l0SO, 900 marks other
securities Increased Zoo, 900 marks; notes in
circulation decreased l9, 12U QUO marks.
What and EFIour