The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-11-26
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK, Nov. 25.-The action Of the
stock market to-day was suggestive of a pro-
cess of rather elaborate and cautious testing.
The powerful allied interests which have led
the recent bull campaign refrained from buy
ing on a large scale to-day and seemed TO
occupy the position of lockers on at the profit
taking sales in progress, standing ready, how
ever. to come to the support of their favorites
in the event of their being too hard pressed
Profit taking very clearly in evidence in
the Atchison issues, the Federal Steel stocks,
Peoples Gas, Southern Railway preferred and
a number of others upon which the recent adj
vance has been sufficient to make profits at
tractive. The selling pressure was by no means
urgent in these stocks, which showed a decided
falling off from the recent degree of activity,
except Atchison preferred But they were
clearly indisposed to advance. The Northern
Pacific stocks maintained their recent dropping
tendency pending the result of further con-
situations between Northern Pacific and Ore
gon Navigation authorities looking to the ad-
Justment of the dispute over division of terri
tory 1t was significant that the stocks of
other railroads vitality interested in the con-
troversy were inclined to advance The Union
Pacific stocks strong, the common gain
ing 12s. and Oregon Short Line rose over a
point. Great Northern, on the other hand, lost
q point. There was evidence of manipulated
at some points, doubt designed to counter
act the profit taking elsewhere and to sustain
Reading issues. The first preferred stock
closed unchanged from Wednesday after being
over points above the parity OF Wednesday $
closing in London this morning, ~ above at
the opening here and IA below during the
course of the afternoon trading. The move
ment in the other coalers insignificant,
although efforts made 10 convey the i'm
preston that the movement in the Reading Sc
curities was due 10 coming favorable develop
ments in the coal trade. There also very
positive elements of strength at few points
notably in Baltimore and Ohio. Louisville and
St Louis and San Francisco second preferred
and Great Western preferred. Erie first pre-
ferred and Pittsburg. Cincinnati Chicago and
St Louis preferred also showed gains. Lake
Erie and Western preferred and Chicago and In
dianapolis preferred showed gains of 1%t and
respectively. The movement in Baltimore and
Ohio was peculiar in that the old stocks and
the new common deliverable when issued rose
pa each, while the new preferred when issued,
which is restricted to dividends of 4 per cent,
reacted a small fraction. Manhattan advanced
10 par but closed at 1856, and Sugar turned
weak after early strength. Tobacco also lost
over points. The closing generally firm
and the net changes mixed.
The bond market was much less active than
recently and shared in the irregularity of the
stock market. Total sales, S4,210, COO
United States 3s the new Is and the old Is
registered advanced u in the bid price.
The total sales Of stocks to-day 44s, 200
shares. including: Atchison. 1925 Atchison
preferred, g. $50: Baltimore and Ohio II 600;
Burlington, s572; Louisville and Nashville. 16.
Is, SS5; Northern Pacific. 10. 031 Reading, $500;
Rock Island. 1885, St Louis and San Francisco
second preferred. o557: Union Pacific 90 OBS;
Union Pacific preferred Il, 319: St. Paul, H. 337
Paper, 1915; Federal Steel preferred $3.50; To-
bacco, ~. 600; Peoples Gas. $685.; Pacific Mail,
1890; Sugar, Is, 900; Chicago Great Western,
1435