The San Francisco call., 1898-01-30
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK, Jan. 29-At the opening the stock market to-day looked as though the ders accumulated by commission houses to sell and take profits. First sales were very gen orally at a fraction below last nights prices and 2000 shares of New York Central thrown from the market drove the price of that stock down 5s. The market steadied almost imme- diately and recovered gradually to above last nights level net gains being, however, un- equal. Lake Shore was most conspicuous, ris- ing sh points, 194A, the reported plan to ex- change s20o, GOO of New York Central per cent debenture bonds for 900 of Lake Shore stock. New York Central ultimately tended strongly upward after wavering somewhat. There also some taking of profits the advance due to doubts to how far the stock would be allowed to benefit from Lake Shore s surplus earnings, which, 1t rumored, would be applied to a sinking fund for the bonds issued in payment.
 Pacific preferred continued to advance on well defined runners that additional dividend number Of less prominent stocks showed mo- table gains. These clements of strength served of the tendency to sluggishness and heaviness in the general line, that net gains were small outside the special mentioned. Quotations from London this morning showed some depression in the market for Americans there. which was attributed to the apprehen- sion awakened in the British mind by yester- days vote the Teller resolution.
 The week opened with continued tendency toward a reaction and the hesitating tone in
 
 itive weakness upon the announcement that the Maine had been ordered 10 Havana. This sharp decline seemed to clear the speculative situation by giving the shorts an opportunity to cover and by shaking out the weaker mar row margined holdings who regarded as a menace to the success of any movement for an advance. The weeks statements of raii- road earnings have been, a rule, very favor able notably Northern Pacific and Pennsyf- vania. published to-day the latter being re- garded especially reliable index of the country's railroad business. All Of the secu- rities of the Kansas and Texas Company have been very strong during the week the im- proved financial condition shown by reports for The bull operators made use of reports in an- ticipation of the Presidents speech on Thurs due to realizing upon the delivery of the speech. The markets advance helped very materially by the large buying for Lor- don account on Tuesday and Wednesday, but the almost equally heavy selling the sue ceeding days from the same source made Il evident that the speculation was only for . The tone of the money market worked easier. notwithstanding the withdrawal from banks ernfnent deposits of Union Pacific payments. It is evident also that the increasing abund- that prevents larger imports Of gold the supply Of exchange Is constantly increasing again hardening
 With sales of bonds for the week of par value of over S26 000. 0co, business in that de- partment Of the exchange exceeds all previous records both for q week and for q month on the business thus Tar in the month.
 The extreme gains have been somewhat re- .duced by profit taking. but prices terially higher the week.
 , II. s. old 4s. coupons, $ higher bid; do reg lstered ana new coupons, 14 higher, and the 5s Total sales of stocks to-day were POI 800 Burlington. 7J57; Denver and Rio Grande pre- Ierred. <71o; Lake Shore, Si20 Louisville and Pacific 35o5; Missouri Kansas and Texas ore lerreo' tS4o; New York Central, 2O,s69; North