The San Francisco call., 1897-11-30
NEW YORK STOCK MARKET.

NEW YORK. Nov. 29.-There was an accu-
mutation Of commission-house orders in the mar
ket a. the opening tins morning which had come
in over sunday, a result OF the streng dis
played by The stock market on Saturday. The
quotations for Americans were also run up the
London Exchange before the opening here. As q
consequence the market opened with quite an
animated ouyIng NOV ment and advance of a
marked fraction along the line But the buyers
iday and ea.urday Immediately set about
realizing their profits. and the advances came to
an untime!y end. The motive offered for the
selling was the Withholding of the decision of the
Nebraska maximum fre ght-rate case b. the Su-
prrme Court.
There were occasional rallies during the day
Sugar mounting strongly upward after d. elimiI-
Rry decline 70 the e1 ent Of almost three points
here was very heavy speculation in this stock
during the daN. sae amounting 20 o e-thirl of al
sales, or over 100000 shares ana its price closed
unt hanged Tor saturday. ! here some buying
foF the london accoun on the decline to cover
contracts made in London at the eariy higher teye
End this also helped 20 steady be market The
cary weakness soon overlook 1t and Was the
va ing one Tor the baa CO OF the day, net de-
cines r aching 10 near point in many leading
stocks aud exceeding in special cases
"a result OF the ,Ively reallzing movement and
the active specuaion in sugar, sales of stocks ran
up to near OU,OU0 shares b-fore noon a igure in
excess OF any total trading for several weeEs The
continued st en- eth OF the sterIn- exchange mar
ket attracted much attention in view NJ no ars
OF the ihterr ional shares. Posted rates wer-
advanced 12c for both long aud short sterling
There is fee ing that the invts ment buying of
ance IN interest abroad and the arr.va. of gold nt
SAT- Francisco ON AustraIia are sufficient com
bined, 10 account for The strength Of exchange
ana that there IS much heavier selling of high
class American securities by European holders for
transfer this side OF he water than appears on
thesurface.
The nigh level OF prices for this grade of securi-
ties goes 10 confirm his view. The very heavy
increase in the loans Of Clearing house banks
amounting to over S140O0,O0O as shown in satur.
days bank stateme t, IS a 50 beng cloSely scru
tinized. The explanation that the increase was
connected with the L mon Pacific Compnny's pay
ment 10 the Government does not entirely eoyer
the ground. the expansion o loans previous 10
Noyem Der o Was ready suth lent 10 account for
that ope alton and was attribu; ed 1t. satuI-
days statement seems to indicate that the paw
ment 10 the Government whicn left on de.
posit In the banks, had Already been Immediately
replaced in loans.
AS the Union Pacific reorganization committee
was supposed to have already secured all needed
funds before last Mondays payment TO the Gov
ernment II is very difficult to account fJr this
large absorption OF money, in view or the Kno wn
condition of the money market, demand for money
being very dul! 10 all departments.
The bond market qrite active and b DAD ;
prices higher ia most cases. Total sales,
sl,SOO,c00 United States old fours registered are
rs higher bid, the fves IA higher bid and the new