The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-12-03
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK, Dec. 2.--The New York stock
market refused to respond to the sanguine view
manifested on the London Exchange as to the
future value of american securities. Ameri
cans were the feature Of that market and were
marked up quite sharply before the opening
here. The .countermanding of orders for en-
gagemeht of gold for shipment to New. York
alleviated apprehension in London over the
money market outlook.
The. rate for call money there fell to 2k per
cent and was easier also in Paris as a result.
e Of the extensive accommodation accorded the
money market by the Bank of England and, the
Bank of France. Tho effect in New York of
the higher prices abroad was only temporary,
and the demand for standard stocks became
semi agnaut. In the dunness which super
vened the: prices for standard stocks was ex-
tremely Irregular. the irregularity extending
SO Tar as contrary movement Of different
issues OF the same company. Thus the pre-
ferred stock of Chicago and Eastern Illinois
and ST Louis and San Francisco first preferred
moved upward while the common stock of the
suffered heavy losses The preferred stock OF
Union Pacific was also firmer relatively than
the common stock Generally speaking the
Pacific stocks Including Northern. Union Cen
fral and Southern Pacific, suffered from extern
sive proft-tahing sales. The Changers were in
heaviness. of the railway list caused con-
tinued diversion of speculative activity in the
Industrial specialties. Sugar showed the great
; est activity, and its decline in the late deal
ings. after an early period of strength, was no
:hInall. FACTOR IN. lne general heaVlneSS toward
the. close of the day The decline in this spec
@ialty was. based on the lowering price of the
product by a leading competitor, and on the
opinion. that the. recent demand in the trade
j.. had been altogether abnormal Brooklyn Tram
sit rose at one time above 20 to the: high rec
ord price, and Metropolitan Street Railway was
strong on the talk of increased dividend. The
. preferred. stocks of the Rubber and Leather
companies. enjoyed the benefit, of favorable
trade conditions. Federal Steel preferred was
q, suddenly marked UP almost q point wiLnout
an; explanatory new development, and other
iron and steel stocks responded in sympathy.
Linseed oil rose 81 :on the reported underwrit-
Sc ing by syndicate Of the reorganization plaf.
but lost 1t all General Electric was helped by
the expected declaration of SIT SO of the ac-
cumulated dividend OF the preferred stock
Pacific Mail was. a strong feature the in
crease. in net earnings for October of SIPS, S07,
Ocean. anticipation of poor fourth week traf
" fic returns for railroads on account of bad
Weather had rs influence In causing; the reac-
ti?n.. The net changes are mixed
" The bond market was active and. prices were
better sustained than stocks. Iron Mountain
1fves were a feature, with q rise above par to
'1Ql.. and Denver and Rio Grande fours were
added TO the list, Of REORGANIZATION fours valued
states old rours registered and the seconds adj
vanced * in the bid price
The total sales " stocks to-day were 525 :
200 shares. including: Atchfson.. ssSs: 10 Tre-
and: Nashville 1880: Manhattan. s7s5: Metro
.. poltan Street Railway $500: Missouri Pacific.
il 900; Northern Pacific. 45l5 Rock Island.
4so5 Union Pacific, IS sos: DO preferred, 1851
oil APO: Spirits. /. 4so; Tobacco $50: Bay
State Gas. II. $50; Federal Steel 479S: do pre-
ferred 2323S:. Peoples Gas. 5000: Consolidated
Gas; SSH: = Laclede Gas: s24o; Lifseed OIL 49,
-nessee Coax and Iron, $780, Rubber 1875; Chi
cago Greati Western. 3v,v'