The San Francisco call., 1898-05-03
COMMERCIAL WORLD.

the opening gain. The upward movement was then renewed and there were occasional periods of hesitancy afterward. but serious re- action The market closed in another burst of animation and very buoyant in tone with prices, except for a few stocks. at the top level. When the market opened the influential bull operators who bought stocks last week in anticipation of a United States victory in the Philippines stood ready to take their profits: Evidently the operations of this ccter1e had been largest in Sugar. St. Paul and Burling- modore Deweys victory had brought large or ders to the commission houses to buy stocks. and they met the outside demand by bidding up the prices at the opening as lar as lay m their power They succeeded in effectlnE a jump of 6b in Sugar and about four points in Burlington and St. Paul. Their heavy selling to realize in these stocks caused a reaction all through the market. The accounts of the bat tie in Manila left it a question whether the United States vessels could effect the es- tablishment of a base for further operations or whether they would be obliged to make for horne The London Exchange was closed for a holiday and Paris was looked to for re fection of the foreign view of the engagement There was firmness in Spanish As at that cen ter, the price having gained 5-16 net by the time trading ceased. These elements of doubt additional scraps of information began to come to hand. especially that through British ciation of the scope of the advantage gained and of it's probable effect in bringing about an early termination of the war.
 The volume of outside orders from all over the country showed a large increase as the day progressed, and the demand so actlVe and confident that the effect of the early re- action was entirely overcome. The grangers and the internationals showed remarkable strength as groups, and the majority of these stocks showed net gains of over three points the day. Even more striking gains were shown in some special cases. Consolidated Gas rose points, Pullman 91R points ex-dividend. Lackawanna Il points over Saturdays bid price, and Oregon Navigation preferred gained 4% Net gains otherwise mostly found within radius of to points The scramble to buy at the opening terrific and simul- taneous prices varied from to points in Sugar.. Burlington, St. Paul and Manhattan. Standard Oil liquidating certificates were the feature of the outside market with an advance of 15 points.
 The bond market leaped into activity and showed notable strength, the speculative issues leading with gains of about per cent. Single blocks of $150, 900 of the Northern Pacific and Atchison 4s changed hands. Total sales, S. ITS, GOO
 United States new As coupon exdividend ad; vanced to 11912, new As registered l, the old registered and the 5s coupon ex-dividend 4 per cent in the bid price. United States As registered on sales advanced 1A and the 5s coupon ex-interest F per cent.
 Total sales of stocks to-day were GA, 300 shares, including: Atchison preferred. 15,S41; Chesapeake and Ohio, 9995; Burlington. 45 621; 2O, O,470 Metropolitan Street Railway, 525o; Reading preferred 42oO: Missouri Pacific. 1858; New York Central. Il. 450; Northern Pacific, 24, 520; Northern Pacific preferred 32, ,520; Rock Island, B $50; St. Paul, 65, 100: Southern pre- ferred, 6o65; Union Pacific preferred, 31, 2S0; can Tobacco, 21,2S0; Chicago Great Western, 5405; Peoples Gas. 12,250; General Electric, 4665; Pacific Mail. 31S5 Sugar, 1o4. 45o; Tennes- Coal and Iron, 6410 Western Union 4416.