The San Francisco call., 1898-12-18
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK. Dec. 17-The market to-day opened firm with rise of a point in Union Pacific. Later the irregularity in London, which had been ignored in the initial trading, was an influence locally. There sharp break in the Vanderbilts-Lake Shore s, New York Central and Canada Southern over a point. Local traction shares were off sharply, especially Metropolitan and Manhattan. Mis- souri Pacific also weakened decidedly. There was considerable strength in other spots, Southern Pacific Central Pacific Denver pre- ferred and Plttsburg, C., C., c. and St. Louis shares showing frmness In the second hour the downward movement was rather uniform. In the final dealings, however, an improved tone set in, in which Baltimore and Ohio and Lake Erie and Western stock recorded sub stantial advances. The average declines were less than l per cent. The bank statement, which more favorable than expected, was later than usual in making its appearance. but its influence helped the closing rally
 This was the largest week on record Tor transactions in stocks and bonds, the sales Of stocks being above four and quarter mll- lion shares and those of bonds nearly forty million dollars. The variety of stocks and bonds dealt in were also greater than ever before The market bulged early in the week, making high record prices later the movement was more hesitating and irregular. some stocks advancing while others declined. Aside from the temporary requirements for January divi- dends, money promises to continue at reason in favor Of the United States due to an eX- of exports in five months of $243, 600, 600. The financial horizon seemed clear. but tbe money and loan market continued to be watched narrowly; long as there was no cause for alarm securities were bought con- fidently. Gross traffic statements were very gratifying, the feature being the marked in- crease in West-bound tonnage, which included greater percentage of manufactured ar1icles Favorable railway returns from sections which have reported a falling off for long time aroused considerable Cheerfuness and round amounts of stock were taken in antici- patton of favorable net results. London opera tions were watched with considerable interest during the week. owing to the varied tendency of the money market. which showed an ap- preciable hardening toward the close. The dis position abroad excepting Berlin, however was more favorable to American railroads, and the net result Of the arbitrage purchases was in favor of bulls. The local commission house business was heavy. Interest largely centered in railways The bulls from time to time took up one stock after another and raised each in turn, In most cases to record figures
 The story about the acquisition of the Chi cago and Ait2n by various railroads in each instance gave strength to the property sup posed to have acquired the Alton. Although 1t was understood that the property was on safe on favorable terms no deal took place as far as is known, but it is always the last story that finds believers. Among the shares which have an International market but do not usually figure 10 any extent in the local deal lngs were Denver preferred, Norfolk and West ern preferred and Central Pacific. These stocks were lifted out of the rut and brought promi- nently forward, competing at times with the recognized shares in point of activity. Sugar dropped eight points. owing to various interpre- tations of the trade situation.
 Features of pronounced interest developed in the bond barket daily and purchases of semi speculative issues were in an enormous volume. Foreigners purchased freely. United States 4s tcoupon) advanced F.. the old As (coupon) and the new 3s B; the old 4s (registered) and 5s A, and the seconds (registered) 9s In the bid price.
 Total sales of stocks to-day were PIG. 100 shares. including 1457O Atchison. IS, ,2e5 Central Pacific, 59O0 Burlington, $500 Denver and Rio Grande preferred e255 Louisville and Nashville $500 Manhattan, II, l60 Missouri Pacific 569I New York Central. 3Sl3 Northern Pacific 14, 275 Union Pacific, 6045 Union Pacific preferred, SS50 St. Paul. 3220 Southern Railway preferred 21.132 Federal Steel, S42 Federal Steel pre- ferred. S49o Peoples Gas, 635O Sugar, 67s5 Ten nessee Coal and Iron.