The San Francisco call., 1897-08-24
Weather Conditions and General Fore,
NLw YORK MARKETS.

NEW YORK. N. y, Aug. 23.-The prices of rail-
road shares showed gains ove< Saturdays close at
the opening of the stock market to-day, extending
to 11S In the of New York Central other
active shares were up an average OF 12. Leather
preferred opened with sales of 1000 shares at
7014 10 7112 compared with 697s Saturday.
The market soon exhibited very strong tone
and prices hardened materially throughout the
list. The dealings were on a arge scale, and blocks
of 1000 shares of the principal roads changed
hands with considerab frequency Favorable
traffic statements and reports on Industrial ami
nation from various sections were the bullish
features. Tobacco WAS notable exception and
fell AZ on moderate offerings. The Wander bits
developed strength, advancing 112 to per cent
Michigan Central leading. I he Gould shares also
developed activity, Manhattan showing q net
gain of 12. Illinois S eel jumped three points to
As some irregularity developed in the rest of the
list the graugers receding slightly at NJ on from
best prices.
The chief characteristic of to-day's stock market
was the return Of the buoyant tone which marked
Prices advanced througEou the list Southern
Railway, Chesapeake and Ohio aud Louisville and
Nashville advanced along vii the granger shares,
which group, however, .osicaily retained lead
ing position. I he grain situation a dominant
influence III trading aud it may be inferred that
the leading terests have become satisfied the
damag to he crops in the sprins-wheat sections
has b. en- Cff ej by the decided advance in grain
prl es. Furthermore with the traffic returns
being repoftt by railroads from all sections and
those expected during the next few weeks to-
gcther with the constantly accumulatng evil
dences of the extent OF he business revival it is
hard to keep down the feeling OF confidence
which underlies the excitement in all specu alive
markets
The course of prices in the grain market to-day
pro ouacedly reac.ionary and together with
the advices received by the local offc IS OF the
granger roads Is sufficient evidence that last weeks
news OF the crop damage was exaggerated. Note
worthy advances were scored in Manhat; an,
Western Union Missouri Pac. fic, Atchson A mer-
ican spIr.ts and United States leather preferred.
Foreign houses we're again buyers a moderate
extent of various stocks tni their reversal of
policy reflected 10 the essier tone OF the for
eign exchange market. 7 he to the street of
several prominent capitalists and the expression
by the of very hopeful and confident views in
regard to the financial situation and the outlook
may be, however. cited add factor in
the buoyancy of the market Government bonds
strong and Unchanged Railways active.
, Money on call l14@l12 per cent: time money
90 days 212 per cent, 80 days per cent, s
months S1a per cent on good mixed Stock Ex-
change collateral. Prime indorsed bills receiva-
bic. 312G4 per cent; prime single names. 4 per
cent? first class names, 4G412 per cent; good
names, 312@14 per cent Posted ling rates for
sterling. 81 80 for long bills and 81 S612 for
demand. Actual rates: Long bills, 81 S31A@
S3s4; sight drafts, 81 S512@@4 S5s4; cable
transfers, "a So Domestic exchange on New
York: san Francisco sight, SC premium; tele-
graph, 712c premium
Money In London, ~ per cent. Rates OF dis
count in open market both short aud 3-month bills
J5s@IA per cent Amount of bullion gone into
Bank OF england on baiance to-day, $4,000