The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-12-05
NEW YORK STOCK MARKET.

NEW YORK, Dec. 4.-The stock market was
left almost entirely 10 the room traders and they
seemed disposed to depress prices during the
early part of The session b. shor, sales h ir eff
tort met with but little response and they COW
cred before the close bringing prices in most
slightly above yesterdays close The
tn ougnout tie day. except in few special
cases. Manhattan reflected the anxiety Of those
who had bought yeste day under the mistaken
impression thAt Inc uhdelg ground RAPID transit
plan had been declared unconstitutional. Heavy
offerings at the opening sold the stock down a
point. the loves OF the day. Inc close was near
the low point after a full recovery in the mean
lime
All sorts Of rumors were afoat regarding the
stock and the dealii gs in II at times quite
feverish. sugar traded in for he part at
a ievei below ye3terday's close, the supply OF
stocks being apparently large any advance.
Great Western showed degree of strength on
count Of IFS large percentage OF increase OF
iugs fer the fourth week IN Sovember susqIe-
hanna and estern continued to rise In price, ana
Delaware and Hudson, of the cla group. synpa-
thiz d bu. New Jersey Central and the Heading
stocks, Oh The utner hand were heavy. The days
news was favo-able. statements of he fonr. h
week earnings that were pub ished showing large
earnings and handsome inc eases.
The Increase in cash Was not sufficient 10 cover
the increased requirements Of the leEa' reserve
consaouenoe il st furt fer dacli, = in he snrp ms
reserve. There has been nothing In the require
mens Of the money market during the week TO
account for the expansion OF $s,476 5OO III the
loans. and IL is probably due to borrowing on ex-
change ! his is part of the somewhat comp i
Gated operation. the simple result OF which IS to
~
cumulated there on credit Instead OF drawing on
II by exchange bills.
exchange has been allowed 10 accumulate IN this
city during the week, and The fsct thar prices of
exchange nave not been materially lowered slows
that il Is withheld and the money loaned abroad.
There is a continuance Il 50 OF lnVesi ment buying
~ long e. change in anticipation of the usual re-
Iurn movement OF ira re after the frs. year Al
ugh the ports Of enerai merchandis e a. this
Mr.. Tor the week show it sharp falling II ne re-
I pts az he Custom b us. indicate a growth OF
a. import movement DUNG November when
bS ers OF ioeg exchange expect VIII increase 81
;urther he ocks are worked on wnlch were
imported in anticipation OF The tafn Law.
Unless the import NOV ment OF general mer
chand. s. shall become very heavy in the next
few months long exchange must prove poor IN
vestment in view OF the enormous outgo or fner-
chandist OF the last few months ondon ad-
vices during he week have reported very heavy
merlcdh demand in that market Tor hlgb grade
American railroad bonds he same demanI had
existed Ia the New Y rk market th very
nmlted supply which largely fuTn shed Tor
iOIeIgn account as well as ia London. i his would
.nulca.e a fufther avy transfer TO this side OF
tue "ater OF The highest priced railroad securities