The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-05-10
EASTERN MARKETS.
NEW YORK STOCK MARKET

NEW YORK, May 9--The stock market to-
day demoralized by liquidation. both vol
untary and forced. and values melted away
with large interests apparently apathetic
Marginal accounts were wiped out, and nothing
escaped the furious decline The continuance
Of the bear pressure dsheartened many and re
suited in shaking out many commission house
accounts. The market devoid of general
new features, but local stocks reflected fear as
= the probable effect Of the Ford franchise tax
bill, which II was the general belief would be
signed Tomorrow. London purchased some 30.
600 shares rendering an easier tone to sterling
exchange and acting as the sustaining factor
IA I'4e carry dealings Money On call was
strong, ranging from BY to 6, the latter being
the quotation of the last loan Standard shares
We're thrown over IN some instances to protect
specialties that were reCeding at an alarming
rate. The forenoon show Of strength tempted
a renewal OF short pressure and liquidation,
which practically continuous. Along the
weakest points the flower stocks which
had risen the most during the long bull cam
p6lgn. Brooklyn Transit suffering a net loss
OF 81, New York Airbrake l2lz and People :
Gas over points Other declines among the
specialties were American Tobacco IA, Sugar
and Steel Hoop 6l2, Metropolitan Street Rail
way o, Continental Tobacco preferred AZ, Man
haitian "A, National Steel and Consolidated
Gas 8. j. ne railway shares suffered from to
8 points loss. and there were many other
weak sDots that their enumeration would be
tedious lhe bear faction was constantly on
tine alert for vulnerable points and stop-loss
orders were freely uncovered. In some quarters
the expectation was that the Government crop
report TO he issued tomorrow would show little
Improvement IN the winter wheat condition.
Clearing house balances to-day of SIS 81. 900
were the largest on record, and the credit bal
ances Of over Sl3 100000 Of the bank which
managed the uayfnent Of the Snanisb inder-
nifty was the largest ever liquidated at the
Clearing house. The sub-treasury debts bal
ance Of SO 00O 600 is the largest since 1890
The closing Of the market was weak but final
prices were well above the lowest the total
transactions for the day having been con
sderably over 100000 shares.
There were quite few issues in the bond
market which ignored the downward tendency
OF the semi speculative mortgages. whose
losses, however, did not exceed fractional pro-
portions. Total sales, s.. 1875 900.
|. 3 IS. the old As registered and the 5's
advanced lsc in the bid price
NEW YORK. May 9.-The total sales Of
stocks to-day were 1852. 37S shares, including
American Smelling, 800; American Steel and
Wire $500; American Sugar. 81. 500: American
Tin Plate, 400; American Tobacco. 400; Ana
condas $500; Atchison, 5000: do preferred 5000:
Brooklyn Rapid Transit. III 500; Central Pa
cifc, 300; Burlington rights. $500; Burlington
300: Chicago Con. Traction, 1000 Chicago Great
Western, 400. g. c. and St Louis 1900: Con-
soldated Gas 1850; Continental Tobacco a. 70
100; do preferred 1900: Denver and Rio Grande
BOO: Federal Steel 81 100; do preferred - 600;
International Paper. $500; Louisville and Nash
Vile. Y 400; Manhattan Con, "a. 500 Metropoli-
tan Street Railway Y. 900: NJ X and T 1000:
Missouri Pacific y 500; National Steel, T. 200 :
New York Central 10. 900; Northern Pacific
900; Pennsylvania, 10. ZOO; Peoples Gas, a. =
800 Reading first preferred u 300: do second
preferred $500. Rock Island, 2l 700: ST Paul
Texas and Pacific. $500; Union Pacific TO- 500:
do preferred, IA 200; United States Leather pre-
ferred 400: United States Rubber 3400: West
ern Union. $500.