The San Francisco call., 1898-12-24
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK. Dec S2--1a sock uz-kst moved in an irregular fzSAsc1- &o5 Ihs changes as a result Of the days ors-z.sc-s were frac- Iionally in favor Of the advocates os the long account. a very unusual thing on the eve of c Christmas holiday. The activity and breadth don was a buyer in the early dealings, but later took profits the rise here. The action of the Government in calling for the $, ,Oco O0o Of Union Pacific payments from the low Inter est depository banks, which is to be paid in 10 per cent installments, failed to cause a ripple ia the money market. The speculation in Fed eral Steel issues was on a tremendous volume or business, and both common and preferred rose very sharply, but in the afternoon on free liquidation and the withdrawal of some of the usual support. the stocks broke. leading to a moderate reaction in other shares. There was good buying. however, of Federal Steel on the dip, and this steadied the list. Sugar, Leather Tobacco and American Steel and Wire showed considerable strength. Rumor had 1t that there would be favorable developments an- nounced in Brooklyn Rapid Transit before Tuesday, and the stock rose 2 points, but did not hold the extreme rise. The closing waa irregular.
 The market this week continued in an almost uninterrupted movement upward, although there were daily periods of depression and re- covery. The movement in a general way ye-l- ned the street proverb "As go governmentz go goes the market, the upward trend fn tine Government mortgages resulting in Morae record prices and the general market for stocks ard bonds was likewise strong. Two other street maXims were not borne out by the cczEEe c quotations
 Londons early prices are usually an index to the trend Of the market locsify sgc ,o copper London's tradeE'' has nor heen rE- garqed the part of wisdom Then. too, the puDhc was content to enjoy the Christmas holidays without realizing paper proA,s and the reaction before the holidays" which la Conditions permeating the enzncisi fsf,rIcs continue wonderfully favorable to this nation. d.g doo9htlIul , crops sell abroad at rsmunsrative ana steadily Improving prices, while the great Iron and coal industries are getting c. grip on the worlds market. The congestion Of sur Plus capltal que to Americas enornooue trade balance explains the investment Of some s75 . oCo. 900 used in diseounting foreign commercial bills which must be paid ln gold CT in gecurf- ties unless the United Etates ass1mes the role or a creditor nation and Riyss ear to the re- ported propositions to float foreign Govern ment loans here. The return flow Of money from the South and West is about due and the banks gained on balance at the sub- gratifying, and gave substantial foundations for a rise in some directions and seemed to warrant the Introduction Of many dormant se- cuTitles to the speculative and semi-investment public Small reactions and Irregularities due 10 bear tactics kept trading rather healthy and 5Iee rom the danger Of q too standardization. Toward the cloae Of the week there was a dis inclination to be short over the three holidays, and there were large covering purchases Much interest was manifested in the dividend declarations of the week, but there was no change except the increase to her cent Tn +be Denver TJreferred dIab11resrnan.p p Ssl III tne
 
 sanguine prediction current as to the probable dividend declaration met some credence in par- ticular cases owing to the favorable reports of earnings. The Brangers and the Pacifcs were in keen request at periods and gained sub Etantially
 The weeks bond market was less active than the preceding week and the dealings were de- void Of such pronounced tone of strength
 Irregularity was very conspicuous in onara tions, but the general undertone nevertheless was very substantial, many issues improving to the best price ever recorded for them
 United States new 3s and the 4s advanced 35, the old As coupon E and do registered M In the bid price. 70 -
 The total sales of stocks to-day were s734O0 shares, including: 3ss0 Atchison. IT 4a0 do preferred, 3423 Central Iowa. e35O Central Pacific. S0zs Burlington. eeo2 Denver and Rio Grande preferred 3,a 15llo L. & N. lo52O Man hattan, l5.l40 Minnesota and St. Louis 32 05s Missouri Pacific. 3575 Missouri. Kansas and Texas preferred, 6s15 Northern Pacific IA 1ad Rock Island. 22,930 Union Pacific I3 s10 St Paul. 715O Southern Pacific. $500 do preferred S5 10,sl0 Union Pacific preferred, 5135 Wabash nre ferred, SS1e " & s; |. E.. 4soO Paper. Soi4 American Spirits, e010 do preferred 14 22o To Peoples Gas, 7415 Colorado Fuel and Iron 12,4I0 Pacific Mall. 32 2S0 Sugar 22215 Ten nessee Coal and Iron, 20. 120 Leather a5 270 do preferred, 4495 Rubber. 3635 St. Louis and S " preferred, 14,09O Chicago Great Western. V"