The San Francisco call., 1899-06-25
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK, June 24-The bear operators
among the professional traders became some
what discouraged over the events of to-days
short session and engaged in something like d
scramble to cover outstanding short contracts
in the closing dealings. The bank statement,
while it cannot be called a favorable one was
not weak had been foretold, and when
the bears started TO cover shorts after its pub
Ncation found that II had brought slight offer
ings to sell. Prices were marked up quite
suddenly in some cases to the highest point
OF the day. making the closing quite buOyant in
tone The further liberal expansion of more
than $1,000, 600 in loans indicated the faith of
banking authorities in the money outlook Who
are the borrowers of this large amount of
money is as much a mystery was the in
crease last week. 1t has certainly not gone
into the stock market during the week One
supposition is that the gold that has been 60
ing abroad goes in the form OF actual loans to
foreign institutions This would help to ex-
pam the mysterious action or the exchange
market in face Of the gold shipments. which has
tal!ed 10 reflect any yielding under offerings
OF bills against the shipments. The strength
in to-days stock market centered in the Van
derbit group, New York Central Northwestern
and St Paul and Omaha rising from 21s to 4
points. The arrival in this country of Cor
nelius Vanderbilt and the strong statement of
New York Central for the fiscal year We're the
presumptive grounds tor the strength in this
group The grangers, the Trunk lines and the
railroad list generally were strong throughout
There was weakness at one time in Steel and
" Ire, sugar and Tennessee Coal Steel and
Wire did not rally strong, but other stocks
were. practically without exception higher at
the close and at notable net gains.
The bond market quiet and yielded at
some points The bears have been energetic
and aggressive during the week and have had
moderate success in driving prices to a lower
level. But their success has been almost en-
tirely confined TO the individual stocks which
they singled out for special attack. The general
market has showed itself coldly unresponslve
and there has been nothing like general break
in prices at any time. Holders of the standard
railroad stocks have held on with stubborn
tenacity, and the most marked result of the
slump OF Few individual stocks has been the
lethargy engendered in the general list the
buying demand for stocks, to be sure showed
signs at times of coming to a complete stand
sull, but there was such small supply Offering
for sale at the same time that prices of MANY
stocks offered firm resistance to any decline
The moneyed class persisted in its waiting atri-
tude. IT Is a commentary upon the public feel
ing toward new Industrial fotations that the
most vulnerable point of attack has been in the
steel stocks, in spite of the fact tnat enormous
profits are being realized in the profuction
and manufacture Of all grades of this material
The uneasiness in the London and Paris stock
markets on the Iransvaal situation and the
CABINET Crisis IN France and the money strin-
gency in Berlin. Vienna. Franfort and Amster-
dam, on account of large speculative commit
1nents IN the Berlin market, have been more or
less renected mere ana have added to the fear
OF Dram Oh gold which might ultimately affect
our money markets On the other hand the
improved crop outlook the good earnings bv
railroacs. the continued ease Of money the qen
eral business prosperity and the return from
Europe OF several financiers of influence and
authority have served as sustaining factors and
even to advance prices in a number of railroads
The value Of prices in bonds has decrea sed
somewhat, but prices in the main were pretty
well maintained.
United States new As declined point tba
new IS 9s, the 5s and the old As registered u
and old 4s coupon Il in the bid price -
The total sales Of stocks to-day amounted 70
1871 shares, including: American Steel 10 900
American Sugar, 1900; Atchson preferred 5000 ,
BrookIyn Transit, 500: Burlington. $500; Con
tinental Tobacco, 1900; Federal Steel. $500: Man
haitian, $500; Metropolitan, 300; New York cen
tral j. 800; North American, 31O0; Northern Pa
cihc $500; Peoples Gas, 2500; Rock Island 300.
ST: Paul, 2O.0oO Union Pacific 400; Union Pa
400. -'''i'