The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-06-09
EASTERN MARKETS.
NEW YORK STOCK MARKET

NEW YORK. June s.-The market took on
the appearance Of vitality and strength which
are associated with bull market at one period
during the day. but the inevitable professional
realizing seemed 70 take the snap out Of the
market and when the bears perceived that the
buying not renewed with any eagerness,
after the realizing offerings had ceased,
rbev atrsCksd The market in the last half hour
and worked some very material recessions in
prices. Sugar. Metropolitan and Brooklyn
Transit closed more than points below the
high level. though retaining stil good net ad-
vdnces in price. number Of the specialtes
and prominent railroads also had point or
over taken from top prices The opening Of
the market was surprisingly tranquil consld-
ertng the amount of business that was being
zone. A long list OF important stocks opened
at unchanged prices ana no stock IN the lst
showec change Of as much as d point in the
early transactions. II was evident that there
was large bear party IN sugar still uncon-
WINGED by yesterdays dividend declarat tons,
and they undertook 10 force down the price OF
that very uncertain security. BY the time il
had fallen points, however. the decline met
resistance Of kind which ii not in the
power OF the bears 10 overcome The experi-
ence during the remainder OF the day not
an agreeable one and the heavy blocks alb
sorbed al the high level was convincing evil
az renned sugars which was acquiesced in by
all Interests in the trade, seemed TO bring home
10 the bears that the competition could not be
~ 2 Very destructive character and that the
opposing interests might be fairly regarded as
installed In the position of insiders regarding
stock market maneuvers The very buoyant
tone Of Brooklyn Transit. Metropolitan Street
Railway and Manhattan added to the discom-
nture % the bears Later in the day the To-
baCcO stocks took up the advance. Yesterday :
dividend declaration AtChison preferred had
a very stimulating effect that stock as we'll
as on all the graIn-carrying roads. The West
ern and Southwestern stocks nearly all rose
over point and pretty much the whole rail
road list responded in sympathy, the only lag
CARDS being a few Southern roads which were
affected by selling for London account The
announcement OF a further shipment Of 81. 000.-
upo gold on Saturday, making a total of So 800
vvp on the movement. was without influence in
the market This outward movement OF gold is
now generally understood 10 be due to special
inducements offered by the Bank OF England to
secure a replenishment Of its reserve There
are intimations Of similar pressure from Rus
STA and other Continental points though no au-
thoritative information can be secured on the
subject
The iron and steel stocks were conspicuousIv
though they did not suffer materially in the
later decline. Large gains were shown by a
number OF railroad stocks seldom traded in
including Iowa Central preferred Minneapolis
preferred. Hooking Valley. Evansville and
IeTre Haute and Des Moines and Fort Dodge
preferred The tone at the close was decidedly
The market for bonds showed improved
strength. and an increased volume Of dealings
as the day progressed. Total sales g $50 900
par value United States IS advanced y in
the bid price.
The total sales Of stocks to-day amounted to
- ~" shaTes including: American Steel and
" Ire. z5oyD. American Sugar, 81, 0O0 American
1otacco. 20 800; Anaconda 1900: Atchison 300.
DO preferred $500; Burlington. 80 500; Cont,
mental Tobacco, 400; do preferred $500; Fed
e1aI steel, Hoc9; do preferred, 420O; Manhattan.
p. 600; Metropolitan Street Railway 500. Me-
lean Central, $780, Missouri Pacific 10 500: New
OK Central 10000 Northern Pacific $500.
40 preferred 5000; Peoples Gas - 100 Rock
dsaahd; LOO 1T; Paul IS. 700; Union Pacific
Union. 300.