The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-06-08
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK. June IA midsummer lassi-
tude hung over the stock market during the
greater part of the day and the trading drifted
aimlessy in the doldroms Wall street will
take advantage of a hot day TO Curtail its la
bors when there is some doubt about the out
look which cOmposes. what is called waiting
market. But. though the weather does not
deter the eyer-watchful eye of capital from
avaiing itself Of offered opportunities. The
burst of animation in the last hour Of to-day
stock market indicated that Wall street was
not 50 dead as all the earlier appearances gave
reason 10 suppose. Speculation was almost at
a standstiu during the morning session, even
the professional traders waiting for action
the sugar dividend and also on that Of Atch-
is0n preferred. The aimless drifting OF sugar
dividend and the smalness OF the transactions
seemed TO indicate that the speculative com
munity was wholly at sea TO what the action
OF the directors would be. The price dropped
below last night after the opening advance.
but recovered sharply some points before the
news became known. The announcement OF the
regular dividend caused realizing sales and
drop OF points. The shorts were eager to
cover ihat the decline was checked almost. i'm
meaiately and q subsequent recovery amounted
10 about ) points The drop after the diYl-
dcna announcement seemed 10 give the shorts
buy was not urgent at the advance. Consider
Ing the length Of the bear campaign. based on
an implied doubt of the regular dividend. IL
can scarcely be that the short interest has
succeeded in anywhere covering the lines put
the regular dividend has by no means CON
Nerted all Of the bears. who still argue dire
effects from the trade The declaration
OF IA per cent on Atchison preferred was the
most potent influence in putting up prices in
the latter part OF the day though the effect
must pe regarded as surprisingly small. CON
slderng the recent activity OF the bears on the
NuublS they expressed that a dividend would
be forthcoming on this stock The dividend is
called regular seni-annual and comes out of
the earnings of the last fiscal year with the
statement by the directors that sufficient re
mains tor another similar dividend in Janu-
airy next. There was a large demand for the
gfangers, which advanced prices in the group
IRON 10 81 points which spread to other
points in the railroad list. Fort Worth and
Rio Grande was marked up points and the
New York municipal stocks rose sharply
stocks which have been recent favorites in
London, such as Anaconda and the Sout hern
railroad stocks. hung back under the influence
conciliatory attitude of President Kruger The
iron ana steel stocks also hung back. Steel and
Wire dropping at one time points on pub
Hshed doubts Of a forthcoming dividend. The
decline, the present and prospective easy con
"ltlons IN mone. and the more cheerful view
or the crop prospects all contributed to the
late strength in the stock market.
Iiailr}ad bonds hardened in price in svm-
nathy with stocks. but business was not on a
lerEe scale. Total sales par value 80 100 GOA
nitri states 5's declined X in the bid price
oial safes u stocks to-day amounted to $50 =
80 shares. including; American Steel i1Dl.
American Sugar, "A 500. Anaconda 10 100. ,cb
tinental Tobacco. 400: Federal Steel Is 800. do
preferred, $500; Manhattan $500: Metropolitan
street Railway. geo: Missouri Pacific 44O0.
NeW Aork central. BOO; Northern Pacific $500:
shhSyINanla, 5000; Peoples Gas 5000: Rock
5i5S Sooo' St Paul l0.4O0; Union Pacific,