The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-06-07
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK. June Cuisines was on far
too small scale on the Stock Exchange to-
day TO warrant any well defined conclusion as
to the general temper Of speculation or a lust
rejection Of business and financial conditions
But there was a very notable hardening of
values in railroad securities, which was fol-
lowed up as the days business progressed nv
rise in prices which embraced pretty much
every railroad stock dealt in. This Strength
started buying in Louisville, which was conf
Gently bought for London account The hid
olng up OF the price in this stock in the course
or executing buying orders impaired strangtb
70 the whole group Southern Railway ~
ierred and Norfolk and Western preferred being
me nrst TO respond and the Changers Pacffics
SouthWesterns and even some of the trunk lines
following this lead. PENNSYLVANIA and pitts
burg' Chicago, Cincinnati, Cleveland and 81
ever, losing all but lis of the advance Tba
motive assigned by the buyers was the posi-
boiSss eiia1 more HDera policy toward stock
HoiutIs ana less lnsistence upon renvestment
o. resources in equipment might follow the
chahge IN administration made necessary by
Lresiqent thompson death. But the trading
Tor the most part was profoundly anatbatio
ana there were minutes at time when no tape
came from the ticker: The action of profess
sional traders was all centered in Sugar and
the utterly erratc movements of this stock were
due TO the entire uncertainty regarding to-rnor
rows dividend action. Advocates of The ree1-
lar dividend and Of a reduction seemed equally
confident and equally numerous 60 tho, ~
stock dipped below last nights level and re
bounded far above il. The extreme range n-as
%. points and the close was AZ net Ct a.
An incident Of the trading to-day was some
large wagers on the one hand that tomorrow 6
sugar dividend declaration would be at the
regular rate and offers on the other hand m
sell the dividend on large amounts Of stocks
Tor less than the regular rate. The same dis
trustful attitude is maintained toward tho iron
and steel stocks, notwithstanding senf-offciaI
intimation as TO the rate of coming divfdand
declarations and informal assurances tbe. -
rent earnings far in excess of the nroDose1
dividend disbursement. Even the preferred
stocks of industrials, however regular may
have been their dividend records continue "a :
below the prices of ordinary dividend na,,ino
railroad stocks which made the same retIrns 90
money invested This distrust of industriaIs
seems TO he the most important element in the
present dizziness and heaviness OF the ma rlet
a further small shipment Of gold TO-DAY Wa G
as wholly without influence in the stock ma rl or
as well as in the foreign exchange market as
those that have preceded 1t from the same in
sttuuon. The conviction Is general thar shc
outflow is the result OF speca conditions and
no longer an exchange situation
The bond market was dull and generally firm
GALES, par value 81, 210, 600 United states oid
fours registered and the ives advanced V in
the bid price. " "
The total sales of stocks to-day amounted n
Wire, p 900; American Steel and Wire pre-
ferred, $500: American Sugar. 46 500; America
Tobacco. 5000; Anaconda 3400; Atchison nre-
ferred. 90 700; Brooklyn Transit, 81 200; Rurling-
ton, 900; Chicago Great Western 1890: Con
solidated Gas, 300; Continental Tobacco 5000.
Federal Steel, 10. 900; Federal Steel preferred
1900 Louisville and Nashville, 10 400 Manhat,
tan. 700; Metropolitan Street Railway. $500
preferred, 5000; Northern Pacific. 500:
Pennsylvania, 5000; Peoples Gas. 1900 Rock
Island 270O st. Paul. $500; Southern Railway,
5000 Southern Railway preferred $500: Ten
Union Pacific preferred, 1900; Wabash preferred,
2700 Western Union, 250O.