The San Francisco call., 1899-10-18
EASTERN MARKETS
Ne7U York Stock Market.

NEW YORK, Oct. 17.-There was a short
lived demonstration by the bulls in the Stock
Market to-day, but before trading was sus-
pended the early gains were largely cur
tailed and in some cases more than wiped out
The strength attributed TO various
causes The temperance this week upon the
floor of the exchange of several operators who
took q large part in last springs big bull
market, and who have been away on long
summer vacations, gave something of a FLIP
10 buIish sentiment. The quiet tone Of the
money market yesterday in the face OF oper-
ations incident to the change Of old Central
Pacific securities for new encouraged some
sentiment for rise. There We're one or two
stocks il the list which were notably strong
from individual causes which were rumored
but not authoritatively disclosed. and which
helped to sustain prices. Among these were
Pullman and Great Northern preferred, al
though the latter more than lost the early
gains The Baltimore and ONO stocks were
conspicuously strong, the common rising an
extreme %. and the preferred 2. Laclede Gas
continued its advance and reached as high
50. The Changers. Louisville and Southern Pa
cihc were quite we'll taken early in the day,
apparently by public interests. The public was
not in evidence at any time during the day.
Call money continued at per cent or below
in spite Of the fact that many banks report
their cash still below the legal reserve. But
while the money rate did not tighten, a num-
Der Of Industrial stocks, especially those
classed a. Green in Wall-street parlance
showed signs of weakness as might happen If
they were subjugated 70 discrimination by mon
ey lenders in the shifting of loans. The glucose
stocks were notably affected, the common drop
ping nearly points and closing the low
est, while the preferred lost 312
The iron and steel stocks a group also
weakened simultaneously, Steel and Wire lead
ing with extreme decline Of 2S4. Others
of the group suffered to the extent of between
! and points. This unsettled the bull move
ment and wiped out pretty much all the gains
which had been established Prices struggled
upward In the final dealings 10 a level Tor the
most part slightly above last night, but the
sap was taken out OF the movement. There
was a warning rally in the rates for foreign
exchange during the day which was unheeded.
Signals Of distress were in evidence in the
German money markets and sterling exchange
fell sharp at the Continental centers incud-
ing Paris. Discount rates in London responded
with advance and exchange rates here, both
Paris and London. rose in sympathy. Added
10 this the fact that money is still going to
the interior in considerable volume, and that
Government payments through the sub treas
ury are again falling off, promising a re-
newed drain on the money market account
ot revenue receipts and that applications for
anticipated payments for Government interest
continue on a small scale. and the outlook for
easier money is not promising. This consid-
Grafton was sufficient TO give pause 10 the
efforts 10 advance prices.
The bond market moderately active and
prices improved. Total sales, par value
Sc 605.000.
United States bonds were unchanged In bid
quotations