The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-10-22
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK STOCK MARKET.
NEW YORK. Oct 2I.-The motor nerve Of
the world 5 markets was touched to-day by the
reported orders of the Government Of France
10 Major Marchand TO retire from Fashoda
There was d prompt recovery in Government Sc
curities in London and Paris and n corporate
stocks at all foreign markets. For the same
reason there was a weakening in the wheat
markets Of the world. including Liverpool, New
York, Chicago and san Francisco This
checked yesterdays advance in the stock mar
ket. But when it became evident later in the
Gay that there was good support in the wheat
market from a continued heavy demand for eX-
port in spite Of the subsistence Of the war
scare and of the continued heavy receipts at the
primary points, there sprang up the demand for
railroad stocks, which showed itself more con-
hdent and urgent than anything that has been
seen in the stock market for several days Nat
Uraily there was demand for the stocks Of
grain-carrying roads. The strength was mani
fest not only in the Granger group proper,
but also in the Pacifics. including Northern,
Union and AJChsOn. The preferred stock OF
the latter road was next TO 81. Paul, the leader
OF the railroads in point Of activity and was
firm throughout the day. closing with q net
gain OF ! per cent The absorption of the stock
in the late dealings a very large scale
The dullnesS and heaVineSs OF the stocks OF
the great Eastern trunk lines were in strong
contrast. although according to a quoted ut
teranCe Of The chairman of the New York Cen
tral directors many companies cannot get cars
enough to carry their freight coming forward,
but are cutting rates ana making contracts
ahead at figures below the rate schedule. 1t is
ings Of the Central for the September 30 quar-
ter falling nearly $500, 600 below those for the
corresponding quarter last year, while the bal
snCe available for dividend is l55-lU0 per cent
compared with 1I0-lp1 per cent last year The
strength of Western, Southwestern and South
eTn stocks was quite general, Louisville leading
the latter group with extreme rise Of a
point. The movement of the industrial special
ties was relatively much less important than
Of late. Tobacco advanced an extreme points
but met heavy sales Sugar ralded below
III. but met the resisting point, and Manhat-
tan. although il weakened early on published
utterauces tending to discredit reports of early
electrical equipment, later rose over point
response to the ST ffness of foreign money mar
kets The local money market continued easy.
The gain Of the New York banks from gold
imports from the suh-treasury and by reason
OF the marked decrease in the movement of
currency 10 the interior is estimated to be not
far from 80. 0op, 90J for the week. How far the
reserve requirements have ben expanded
through enlarged deposits by reason OF loans
made on sterling exchange cannot be closely
estimated but ii may run high SIS, COO 600
The bond market broadened and improved in
the course Of the day and shows gains gener-
ally. Total sales, 81, $40 600.
United States s registered advanced u per
cent and the IS registered declined 4 per cent
In the bid price.
Total sales Of stocks to-day were 215 200
Canadian Pacific 45lU, Burlington. T. 800; Man
haitian, I1.513; Metropolitan Street Railway.
400; Northern Pacific 1888; Union Pacific. 3025;
ST. Paul, Il, 445; Union Pacific preferred. GIL;
L. 2. d. and c. 6255; Tobacco, $3.50; Sugar,
a. SO.