The San Francisco call., 1898-12-06
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK, Dec. 5.-There was much in terest and curiosity manifested in Wall street to-day regarding the Presidents message. When 1t published 1t was found to be so free of matter calculated to affect the value of securities that the course of pr-ces was left to the influence of technical causes. The re- cent view of professional traders has been that the message would prove to be a bull document and they have bought stocks recently upon that conviction. Upon the publication of the mes sage 1t was natural, therefore, that this ele- ment would have to sell 10 take their profits But the chief effect of the anticipation of the message was to curtail operations in the stock market. This tendency was emphasized by the absence of telegraphic communication with many points in the country, owing to the storm. There was not entirely lacking also the proverbial disposition of Stock Exchange traders to the feeling of timidity over the ad- vent of a session of Congress. There is some thing of prejudice in Wall street against some of the measures which Representatives and Senators assembled at Washington design for the public welfare and a desire to be let alone in methods for the profitable ernnlov- ment of capital against which CongressionaJ I !eSislation IS at times directed. The prevail ing tone of the market therefore became in creaslngiy heavy as the day wore on There morning. especially in some of the stocks which showed strength last week Metropoli- tan tan street Railway mounted strongly Az points anu thSh reacted S52 on realizing, upon the in creased quarterly dividend to an annual per cent rate from per cent rate. Pacific Mail and the iron and steel stocks continued nov ing upward, but reacted sharply before the close, particularly Federal Steel. Sugar fuc- tuated quite irregularly on the varying rumors concerning the status of the competition of the trade There was rather a notable advance in a group of gold stocks and some of the low priced railway shares were also strong United States Express rose to 57S4 at one time but re acted to 55. and American Express dropped : points. The majority of the standard stocks were, however, notably dull and for the most part heavy This was especially true of the Grangers and the Pacifics There was some hrmness manifested in coalers on the strength Of the cold weather.
 The bond market was decidedly more active than stocks and prices were better maintained though there was reaction from best prices in the later dealings. number of lately dor mant issues were brought into activity and moved sharply upward Total sales. S, SO5 0O0 United States seconds advanced 5A in the bid price.
 The total sales of stocks to-day were 3Ss. 700 shares, including: S739 Atchison, r 200 Atchi- son preferred. 3l75 Central Pacific, 23 200 C. and o.. 4735 Burlington, 2190O L. and N. 15, ,OO0 Manhattan, ,670 Metropolitan Street Railway 3550 Missouri Pacific. 9265 M. K and T. pre- ferred, 4250 Northern Pacific, 7545 Union Pa cific. 7209 Union Pacific preferred 12 150 St Paul. 5000 Texas and Pacific, 4200 Tobacco 3734 Steel, S669 Steel preferred, 6200 Peoples Gas 3695 Linseed, 20,3 Pacific Mail 19 g9O Sugar 5700 T. C. and l., 5S32 Western Union, 4546 Chi, cago G. w.