The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-09-28
EASTERN MARKETS.
NEW YORK STOCK MARKET.


NEW YORK. Sept 27.-Transactions in the
railway and miscellaneous markets showed
better distribution to-day and the railway mar
lcets assumed more prominence in the trading
than for some time. Speculative sentiment be-
came decidedly bearish over night and the
bears adopted what appeared TO be a we'll
outlined plan during the day Tobacco was
utilized lever to initiate the drive, but
after the price damned down 511 points
TO 1922 the stock met support and recovered
materially. The bulls endeavored TO stem the
downward rush. by working up Sugar and
Metropolitan and succeeded in 'steadying the
list. The bears. finding considerable opposition
in Tobacco turned their attention to Sugar,
and after creating decentralization there took
the other prominent specialtles into camp one
after the other and soon had prices tunbling
all around. The tactics of the bear faction dis
concerted the bulls, who, after apparently ar
resting the decline and forcing. q rally in a
leader, had TO meet fresh assaults on. another
stock, with the result that the momentary ad-
dividual properties were. set afioat and cont
siderable discussion aroused over the move
theory was that some powerful interest was
letting go an extensive line OF stock and the
absence of demand for the enormous blocks
offered during the. past few days facilitated
the efforts of the shorts. Operations in the in
dustrials were conducted with considerable
confidence by the bear contingent and their
success in reaching stop-loss orders encouraged
them to attack the railways. Northern Pa
cific. in which dealings have been on a large
scale recently, was picked out and a two
point break followed A liberal amount of
long stock from tired holders came out in the
grangers and the trading became quite
cited during ain interval in the afternoon. The
list steadied occasionally, but any attempt to
boost prices was accompanied by semi-stagna-
ton. Late in the day prices hardened ON the
August statement of the Northern Pacific
which showed an increase in the total net in
come of s217. SAB. Atchison's report for the
same period, which developed later, indicated
a falling off in the net earnings of s43S, 720
and the bears renewed the attack with final
prices at about the lowest. Sugar. after i'm
proving to 12IA, encountered heavy realizing
ORDERS and the way down considerable
stock came out around the even figures, which
eventually put the price to- 1179s. Subsequent
fluctuations were quite feyertsh and the stock
closed at 1lS There was an absence of news
bearing upon the property aside from the
usual opposition features.
The money market less active to-day
minimum figures prevailing at the close. Time
contracts were without essential. change and
there a notable shrinkage in the offerings
of prime mercantile paper
Operations in bonds were centered among
the usually active issues and prices fell off
substantial fractions in some cases.. Total
GALES 81, 626. 900.
Government bonds shared IN the general
weakness and the old As reacted Il per cent.
Total sales of stocks to-day were 465. 200
shares. including: Atchison preferred. IS $40:
Pacific 81 400; Northern Pacific preferred. 49,
$50; Rock Island, o,355; Union Pacific. 1000:
st. Paul. IL, go Union Pacific preferred. 1902;
Cotton Oil. 4375; Tobacco. 143 $50: G., G. w,
1855; Peoples Gas, % S41; Sugar, 49, 220; Leather
preferred 6420 Rubber, Is eco.