The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-09-22
EASTERN MARKETS.
NEW YORK STOCK MARKET

NEW YORK. Sept. 2l.-The course of sugar
to-day indicated that the long bear turn in that
stock has come to end for the present Deal
ings in this stock continued to absorb an i'm
portant proportion of the total transactions
Efforts to hold the money rate proved unavail-
ing in view of the disparity between the New
York call money rate and other markets. and
call loans on the board fell to per cent to-day
AS result of relief from these important re-
dictionary tendencies, the market was strong
and recovered quite generally from yesterday S
decline But the strength was confined largely
10 specialties and the market Is still in the
hands of the professionals and reflects no out
side interest. There was still some apprehen-
sion that the rally in sugar might simply be
the cause of manipulation directed against a
large bear account. The sudden plenitude of
and with remains the fear that a further
furry in call money might be possible. The
fact that money has been. easy to obtain for
several days in almost all markets, but not
on the Stock Exchange encouraged this feel
ing. But the call money market unable to
withstand the influence OF the various agencies
which have been at work for its relief The
Bub-treasury had another debit balance of
nearly 81, o0o, 600 at the clearing house to-day,
rejecting in part the presentation of checks for
the anticipatory payment of the October !
interest on Government bonds. Transfers OF
currency from New York to the West through
the sub-treasury fell to $50, 900 to-day, and New
York exchange in Chicago advanced to only IL
ments of gold in London for import, resulting
in sharp rise of X per cent to l per cent In
Ine money rate dIO OF ebQte per cent TO ZttqSH
per cent in the discount rate in that market
The stiffening of the London money market
begot dullness in the stock market, the heavi-
ness extending to the American group and re.
sultng in some selling for London account
here. Except in one or two instances the sell.
ing without much effect. number OF
stocks responded sharply to special causes, as
for instance. Manhattan the return from
Europe of the dominant capitalist. Brooklyn
Transit on talk of the absorption of another
line General Electric the belief that Il
would benefit from the recent combination OF
electrical interests, Leather preferred on cover.
ing of shorts who misapprehend the meaning
of the new leather company announced
The coalers, Cotton Oil. Rubber, New Yorl
Airbrake and some other specialties showed
conspicuous advances In the railroad list out
side of Northern Pacific. dealings were no,
large, but prices in number OF cases advanced
q point net. Last prices were the best and the
market was strong and most active at tn.
close
Prices of bonds recovered in the late dealing,
from an early tendency toward decline Tota
sales 81, 10000.
United States IS declined 4 and the IS, wher
issued. u in the bid price.
Total sales of stocks to-day 1896, 100 shares
including: 1929 Burlington, %, sos Manhattan
71,2H Northern Pacific, 15 go St Paul 1S lo
Union Pacific preferred. 1910 Cotton OIL is
$50 Tobacco. 70T0 Peoples Cas- 1920 Genera
Electric. 100, s22 Sugar 10 ECO Leather preferred
21n0 Rubber = $500 ~