The San Francisco call., 1898-12-01
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK, Nov. 30.-The market for stocks in Wall street hinged very largely to-day on the financial situation abroad Berlin was again evidently the source of the pressure for accommodation. and it's urgent needs resulted in the sympathetic hardening of the rates for money at London and Paris. call money at London rising to per cent The price of gold bars rose an additional fraction in London but gold to the amount of 8, 64O.o00 withdrawn from the Bank of England. Of this amount $1.0o0,OOO was shipped to the United States and probably the rest went to Germany. The en- gagement for the United States wns the out come of the recent tendency toward lower rates for money at foreign centers which left so narrow margin of profits on the with holding or the exchange. which is constantly continued heavy exports of merchandise that the movement of gold is necessary to meet the obligations. The rise in the money rate in London yesterday again effected a margin of profits on loans made abroad and the result seen in a rise in sterling exchange In New York, refecting a renewed demand for investment in sterling which will necessarily put an end to the gold movement for the pres ent. The incident may be accepted as an ad- monition to the foreign money markets that they must pay a good rate of interest If they want the use of the credits established by this countrys favorable trade balance. Otherwise the activity of business at home and the needs for fnanciering enormous consultations and the Formulation of huge new corporations will necessitate the calling home of these credits The effect of the tightening money markets abroad was to throw a burden of liquidation on the local stock market. the international stocks, of course showing greatest weakness In view of the large German holdings of North ern Pacific 1t was perhaps natural that this stock should be most acuteIy affected But there remains some feeling of apprehension still over the relations between Northern Pacific and its competitors. The story reported to ac- count for the strength of Union Pacific of a plan for the exchange of Oregon Short Line stock for Union Pacific common stock indi- cates rather an aggressive strengthening of resources than a resignation to an accom- plished agreement, as Oregon Short Line owns a majority of common stock of Oregon Navi- gation, thus insuring an outlet for Union Pa clfic to the northwest coast. The lStter strength in the market radiated from Union Pacific Sugars strength due to the rumors of consolidation with the Glucose Company Rub Der stocks made the usual response to the pre- vaiing gumshoe weather. There was strength also in the few of the obscure low-priced paned. The declines were largely recovered but the net changes of the day were decidedly mixed.
 The bond market was irregular, in sympathy with the stocks but business was fairly large and well distributed. Total sales, 8, ,375, 900.
 United States seconds advanced A in the bid price
 Total sales of stocks to-day wee 423 700 shares includng: Atchison 43S2. do D. eferred s. S60 B. and O. 3475. Central Pacific S0SO C. and O. 364o Burlington 5000. Hooking Valley 7745 L. and N 129S5, Manhattan 20.S20 Metropolitan Street Railway 5590 Reading first preferred 4450 Mis- souri Pacific 7471, Rock Island 6772 St. Louis and San Francisco 10.050 Union Pacific I6 32o do preferred F, 235 St Paul l6 POO Southern Railway 5000. do preferred coco, Tobacco 32 l05 Federal Steel preferred 5155 Peoples Gas 67O0 General Electric 6400 Linseed oil 995O Pacific Mail APO. Sugar 40. Rubber 7S25 Chicago G. W. 5515..