The San Francisco call., 1899-07-11
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK. July Io-The continued tight
ness in the money market precip.tated hQuida-
ton o. the speculative accounts today which
resulted in losses in value ranging from 81 to IS
& share in all the principal active stocks traced
in Heavy selling for London account. marked
the opening on the Exchange. and as the day
progressed the successive calling Of loans re
suited in the raising Of the loan rate TO 7 per
cent. This rate forced many speculators on the
long side 10 close out. There were important
points cf weakness besides in one or two prom
iaeDt stocks. Of which the bears were quick 70
take advantange, and which was a potent influ-
ence in the tendency TO decline. Most conspicu-
Gus Of these vas Peoples Gas, which opened
al III. against 120t. the last sale Saturday.
There heavy offerings Of this stock, but.
determined support worked a quick rally OF
-. Atterward It fell below The opening price
and closed with a net loss Of nearly points
The motive N the selling was the reported
plan oI TlVa- company 10 organize d com
pet!ng service upon the expiration Of the pres
ent agreement. me demands MADE upon the
Netrop0lltln street railway company on De
half II its employees and the danger Of
costly strike caused the stock Of that com
paay 10 dron 7Ss al one Tune Inc dealings IN
1t were not heavy and the tone was feyerlsh
throughout. tile last sale showing net loss
fected syiupathetically, Manhattan losing
points and Brooklyn Transit over on the day
Sugar was also notably weak, the selling being
credited 10 realizing by speculative holders.
The combined weakness of these influential
STOCKS sufficient 20 cause a demoralized
feeling n. ough0ut the group Of iudustrials In
the railroad list the weakness was more re
str5cted T. the stocks which have been re
Gently pushed UP BY speculative manipulation
PeLDsyIN Nan!s. New York Central Atchison
preferred. Burlington. Reading first preferred
ana other stocks equally prominent in the
speculative world at one time points OF
more below Satur7ay,s price
The grangers gene-aIly the coalers and the
Sor+bar- and Sou-bvyesf,.rn e+o-ls As rlIia
showed resistance TO the decline and their
10 80 ,ls - -l'2S g l5 Ill 7eI 4esti rs
live 1L-~a
was due 20 the uliscalcUlat.lu Ct operators as
10 the period Of relief expected in the money
market The delay in this matter seems 10 be
due 70 uneaslness causd III foreign centers by
the situation in the TransvaaI France was
eager bidder FOR gold in the London market
to-day ana the rate o; discount IN London was
marked UP fraction. although call money
cent IN New York, but the only effect on the
sterling eX- hange market was fail Of a frac-
t.on in the rate for long standing. The pres
sure on London was from Paris and was
hected here in sales estimated as high as So
600 shares The shrinkage in values, coming on
the low level of the New YORK. bank reserve.
necessitated the calling ot loans. which in
many cases it was found difficult 10 replace
showed very feeble raIIying power and closed
very slightly above the lowest. In the early
dealings there was large demand for the
Southwest seconds. which gained a. all of
which was subsequently lost. Bonds generally
United States IS registered advanced i and the
old 4s registered declined Is in the bid price.
RE total sale 2f stock to-day amounted to
American sugar. 90 200. Atch:son. il. 700: Atchi-
son preferred. C4,S5o. Brooklyn Rapid Transit
46 500, Burlington. 300: Federal Steel. $500;
Federal Steel preferred. 1886: Louisville and
Nashville. $500: Manhattan. 3S 500: Northern
Pacific, 100 Peoples Gas 10 800: Reading first
preferred el00. Rock Island. I-,I00; St Paul
g. .l00. Southern preferred. $500; Union Pacific
$500. Union Pacific preferred. $500, American
Tobacco, $500; Anaconda, 500. Baltimore and
Ohio preferred. 500; Central Pacific 5000:
Chesapeake and Ohio, u.500. Chicago Great
Western. loS1o: Colorado Fuel and Iron, $500;
Continental Tobacco, 700. Metropolitan 97O0:
Missouri Pacific, 1900, New York Central, TO-
500: Northwest, 5000; Northwest preferred, 400;
SEQ; St Louis preferred. S49o: Southern Pacific
COCO; Tennessee Coal and Iron. 3. 500.