The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-05-02

critics and covering by the shorts steadied the
market for a while and some recoVeries oc-
CURED. renewal of large offerings brought
prices down in a Semi-demoralized fashion and
the closing was at the lowest for practically
all stocks. Stop-loss orders were met IN a
variety OF stocks and the pressure continued 70
the end. The pronounced strength In sterIlhS
exchange aroused an eXpectatlop IN Some qu t
ters OF exports of gold, but although opinion
as to the probability of this was divided there
were enormous sales of both accounts in the
market. Money ranged up 10 per cent. Out
closed at half that figure. The sales by Lon
don of copper stocks recently was one reason
for the strength of sterling exchange but the
more immediate cause was the transfer OF the
Spanish indemnity warrants for 100000 TO the
representative Of Spain, who was reported to
have called for instructions to the matter
Of transferring the funds to Spain. This gave
color to the rumor that the transfer mad not
been anticipated in the sterling exchange mar
ket. but this, of course, was pure conjecture.
Some authorities were of the opinion that
point which would make the lead exports
profitable. While such action might arise
within the next two months there were those
of the opinion that the recurrence OF the neces-
sity to finance Industrial consultations, for in
stance that of the Amalgamated Copper Com
pany this week would maintain money at a
rate which would make ii more profitable to
leave the gold here rather than ship in any
Among the extreme declines which early I'M
settled the list the local shares were most
prominent. including Consolidated Gas l44;
Metropolitan, 125; Third Avenue 9; Manhattan,
SIS, and Brooklyn Transit 6l2 The decline in
gas shares was accompanied by the announce
nSent of q cut in nricas OTHER nrominent d.
Clines New York Air Brake, II; Sugar,
rs; Federal Steel, Z; American Tobacco, >;
Anaconda Mining, AZ international Silver
80; Continental Tobacco, AS, and American
Steel and National Steel. each. There was
also pronounced weakness in Peoples Gas
Tennessee Coal and practically all of the in
dustrials. From the extreme depression there
were but few recoveries, among which Air
Brake S15 and Metropolitan, Sugar and Third
Avenue over a point each. Among the rail-
ways the losses ranged up TO 4&4 in Northwest
with the average elsewhere about >. The fresh
outbreak on liquidation toward the close was
associated with the strength of money. To-
day being bank holiday in London there was
no indication Of the attitude of foreign specu-
latOrs in the local market. Railway mortgages
participated in the weakness of the day, but
concessions were mainly unimportant.
United States old Al coupon declined Il and
do registered and the SIS Is in the bid price.
The total sales Of stocks to-day amounted to
Sl0.1l5 shares, including: American Smelling
Company. POO: American Sugar, 29.2GO; Ameri-
can Tin Plate. 100; Anaconda, $500; Atchison
preferred. II. 100; Brooklyn Rapid Transit, AL
900; c. B. and O. l2. 400 Chicago Con. Tr
$780, Chicago Great Western. 5000; Consolidated
Gas, 1890 Continental Tobacco SO. 400: do pre-
ferred. 1000; Federal Steel Company. % 900: do
preferred, 10000; International Paper. $500;
Louisville and Nashville 19, 900: Manhattan
Consolidated, 1900: Metropolitan. 80 900: Mexi-
can Central. 1000; Missouri Pacific. 10 900; Ma
tional Steel, 10000 New York Central, IA ZOO:
North American, 5000: Northern Pacific 81 500;
Pacific Mail, $500; PENNSYLVANIA. 1880; Peoples
Gas, l6,700 Reading. 1900: Rock Island. 71C0:
st. Louis and Southwestern preferred $500:
st. Paul l., 100; Southern Pacific 1000: Union
Pacific, 400; do preferred. 1900 Western Union