The San Francisco call., 1899-02-11
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK. Feb. lO.-The stock market left
off with advances in the leading specialties and
prominent railways, with the tone unsettled
: The dealings were largely professional and
We're in the nature Of contracts over the triple
=. nohday. The early trading was practically
:1eatureless. Commission houses had but few
. orders and the trading for London account was
IN very moderate volume, without any marked
tendency. Aggressive buying of Burlington
dissipated the early hesItancy and had a ia
Yorable influence on the market generally. The
coalers showed particular strength as did New
York Central, Pennsylvania and the grangers
generally. The usual refundng stories which
lacked official confirmation. were revived in
connection with Buringtons strength. Pacific
Mail recovered an early decline, which was at
tributed to advices that the steamship sub
sidy bill was unlikely to pass. Sugar displayed
strength, while Tobacco was weak most OF the
day. The further successes about Manila had
a. sentimentaIly beneficial influence on values
Prices rose until delivery hour, when there was
brisk selling movement, but stocks were SO
well taken that rally ensued in some quar-
ters in the final dealings and the market closed
over the holidays, to be reopened Tuesday
morning Meanwhile the bank statement will
appear and much Importance attaches to its
character.
Railroad and miscellaneous bonds were in
good request throughout the day, with gains
Of Importance in some issues. Total Gales,
United States as registered advanced u and
the 5e registered s in the bid price.
Stock prices this week were extremely yari-
able, with contraction in dealings compared
with the recent large volume. Comparative
PRICES show great irregulafity, with losses pre-
vailing. The uprising at Manila exerted dis
turbing effect, but Spectators We're inclined to
view this incident assuring the ratification
Of the Spanish peace treaty. According to
the traders view the disposition of this mat
ter would be favorable to stock prices mas
much as 1t would remove one of the uncertain
ties Of the situation. Therefore there were
purchases of stocks in anticipation of the
Senate'S action, although there
fusng advices as to what that would be. Lon
nopncement that the treaty had been ratified
. by the Senate than that displayed by the local
ing profits the elimination OF what they
regard as favorable news, sold freely Tuesday
morning and prices receded very materially.
continued until the closing dealings of Thurs
day. This in turn was followed by advances
on Friday, coincident with the announcement
of the second success of the Americans operat-
ing against the Filipinos. The transactions
anced for the week, and to-morrow's shipments
from London of American securities il was
believed would bring the last batch that Lon
don had sold. These sales in recent weeks it
was calculated, were equal in value to about
$35 900, 900. These sales resulted in easier
tary conditions abroad, while at the same time
money appeared in abundant supply locally
there being loans of as low as per cent for
cali money This is partly due to America s
receiving, in part payment OF her large trade
The uncertainty and hesitancy in the earlier
part of the week may be attributed largely to
the unfavorable Interpretation OF last week 8
bank statement and the curtailnent of dealings,
and the uncertain tone of the market later
may be accounted for by speculation as to
the probable showing of this weeks bank state
=. inent Notable advances for the week were
. Lake Erie and Western preferred 3%. Metro
politan Street Railway and Consolidated Gas
.s%. The declines included Tobacco s, Pitts,
and International Silver 2M. There was more
stability to bond prices than in stocks, al
though values of the speculative liens huctu-
0smi-speculative issues assumed considerable