The San Francisco call., 1899-05-18
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK. May l7-When it was an
nounced on Monday morning that some of the
most powerful financial interests of the coun-
try had banded themselves together for the
support Of prices in the stock market 1t dis
sipated very largely the timdity OF the hold
ers of the group of securities which had been
SO rnarVelously increased in price under the
favoring activities OF the late Ex-Governor
Flower 1t also caused the professional opera
tors who always stand ready to attack values
OF securities any vulnerable point to pause
in their purpose and cover short contracts left
outstanding since Saturday. The capitalists
behind the Flower group apparently felt
much encouraged with the hrmness and con-
foence displayed by the market since the crisis
that they made UP their minds to-day to COM
pete its rehabilitation and 10 put prices back
10 where they were on Friday last. 1t
not until the latter part of the day that this
purpose seemed TO be seriously in hand. In
TACT, the Flower stocks as a group were con-
spicuous during the early part of the day.
Their position seemed TO be the natural course
OF events and the general trend of the
ket 1t was the general trend of the market
that seemed to confirm this purpose Of finan-
Clal leaders. These events were a very marked
dissemination on the part of personal hold
ers Of securities to proceed with any liquida-
tton and a quiet and persistent outside de
mand for a wide range of stocks Some verv
large transactions in bonds, especially in re-
cent or contemplated issues OF railroads of
the and per cent grades, were also in evi-
from a large reserve OF capital. The money
market was notably easy and advices from
FUNDS on hand; The statements of St Paul g
earnings for the second week in May show
ing an increase Of over $4,000. compared with
the corresponding week last year, when the
extraordinary grain movement incident to the
Letter deal was in progress, was taken to
lnQicate continued prosperous condition Of
railroad traffic. London also showed a fav-
orable disposition toward American railroads
and advanced prices before the opening here
And although part of the purchases were re-
sold later, having some possible strength in
the rate of exchange in London the sales were
sufficient volume n ton ha
market here. More mature consideration of the
trade statistics for April disclosed the con-
merce, notwithstanding comparisons at some
points with the Unprecedented period Of last
hardened under these influences early in the
qay central and Southern Pacific Chicago
and Tobacco and New York municipal corpora
uon stocks advancing sharply. In the late
afternoon the marKet leaders undertook to push
Friday. This they did through a flood of
offerings and held II there to the close seven
points above yesterdays close Peoples Gas
the Federal Steel stocks. International Paper
Rock Island and Atchison preferred are from
one to four points higher. The railroads shared
Very generally in the strength, the close pc
The large demand for bonds sought persist
prohihitive prices. Total sales 81 $50, 600 Unit
ed States new As and the old As registered
advanced Is in the bid price.
The total sales of stocks to-day amounted
10 BOZ, l4S shares, including: American Steel
ana wire; II, american Sugar 63 200; Am
erican Tobacco. S4O0' Atchison preferred, go 600
Brooklyn Rapid Transit. 81 900; Central Pacific'
1890: Burlington rights, 1900: Burlington
l.lOo chicago Consolidated Traction $500
Chicago Terminal Traction sO0O Chicago Ter
minal Traction preferred, Il, ,300 Continental
Tobacco, l0,5O0; Federal Steel, IS 200; do pre
ferred. 20 200; International Paper 1900; Inter
national Silver. $500; Manhattan. $1,000 Metro
politan Street Railway. 400; Missouri Pacidc
43OO. National Steel. 4l0O; Northwestern nre,
terred. 400; Northern Pacific. $500; do pre
lerred, 500; Rock Island $500: St Paul % 200.
Fn Mai NJ
ern Pacihc. 51,sQ9; Tennessee Coal and Iron.
64oO; Union Pacific. 1l.1oo; do preferred 1900