The San Francisco call., 1898-05-06
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK, May 5-ProfessionaI operators all turned bulls to-day after brief period of doubt and hesitancy after the opening of the Stock Exchange. As a matter of fact, they were forced into this position by the unmis takable temper of the outside public mani fested by their disposition to come in the mar ket and buy stocks in large blocks at the market price. The professional operators were made somewhat wary by the failure of the London market to show any independent inter est in American securities yesterday, while Wall street was taking a holiday. The same elements were apparently rather suspicious of the advance in London before the opening here this morning, and were disposed to attribute it to manipulation from this side. Prices here failed to respond at the opening to the London advance and ruled below the London parity for a considerable time. The market was full of outside buying orders and business was on g large scale, but had very heavy burden of profit taking sales to carry and the small during the first hour. The reaction here failed to impair the confidence in London where Americans continued very active and strong The buying here for arbitrage account was also very large scale in all the international stocks and turned the scale to the bull side Large operators who had taken profits on Tuesday and this morning, impeled by appre- hension that the rise was progressing too fast felt renewed confidence on account of the sup port accorded to London and the outside public and turned buyers of stocks again. The mar ket presented all the characteristics of the rampant bull spirit. From time to time the general strength was taken advantage of for heavy profit taking in special stocks. At other times when there a disposition for busi- ness to languish individual stocks were pushed vigorously upward for the purpose of sustain ing the general market. Rock Island was the center of interest in the railroad list and was lifted 1A points to a parity with St. Paul Sugar was furiously active and very volatile all day, covering an extreme range of 41b points and gaining 3ss points net. The large majority of stocks traded in are at least a point higher and net gains range from that up to 8 points There was no special development in the sftua- tion to account for the buovancy of the mar ket beyond the general conviction that Spain s capacity to carry the war is nearly ex- hausted.
 The bond market shared the activity and strength of the stock market and shows higher prices all around Total sales S2 525 O00
 United States new As registered advanced IA and United States 4s coupon 1a in the hid price. Others were unchanged
 The total sales of stocks to-day were 515 600 shares, including: Atchison preferred Il. .450; Chesapeake and Ohio, 5750; Burlington 3O,Ss5; Louisville and Nashville, l5s20; Man haitian, 22, 250; Metropolitan Street Railway 9060; Reading preferred, S250; Missouri Pacific 9s45; New York Central, F. ss0; Northern Pa, ciac preferred. S950; Rock Island. 34 45O: St. Paul. 43. $50; Union Pacific preferred, 45 12O; American Tobacco, q, 1,235; Peoples Gas, 9351 ; General Electric, 3050; Pacific Mail, $685. Amer ican Sugar. go, 332; Tennessee Coal and Iron S125; Western Union 6520.