The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-02-18

gold at rs s4daT7s SID.
CLOSING.
LONDON, Feb. 17.-Northern Pacific, pre-
ferred. 50; Union Pacific, $50; Grand Trunk
s; bar silver. steady. 27izd per ounce; money
14Q11z per cent.
BRADsTREETs FINANCIAL REVIEW.
NEW YORK. Feb. 17--Bradstreet's Financial
Review tomorrow will say: Reopening on
Tuesday. after a three DAYS recess, TO find
mail and railroad communication interrupted
by the storm. and the attendance in Wall
street seriously reduced, the stock market de-
veoped unexpected strength. This. in fact.
continued to be its CHEZ feature throughout
the rest OF the week, though the total trans
actions were rather below the recent level and
there was at hrst much more evidence or pro-
fessional than of public support. More or less
commission house purchasing was attracted
within the last day or so by the steadIness and
advancing quotations but the market
whole had the appearance Of following the lead
of manipulators to greater extent than has
been witnessed since last autumn. The inter
of the street was centered mainly few
stocks In which influence Of the kind Just re-
ferred to were conspicuous. Burlington being
the principal feature. while the Pacifics and
some others came in for more or less atten-
. ton Of a similar character. There were few
developments calculated to influence specula-
ton. Rumors, were, however, plentiful. and
active securities. There was a decided dispO-
stion tic accept any favorable intelligence or
mind TO disregard any adverse incidents. such
as the Interruption of general business and
railroad traffic by the storm the damage
which II may have done in the South or other
sections On the other hand, IT. seemed to be
accepted as proved fact that the liquidation
or weak speculative accounts that mas Deen IN
progress since the latter part OF January had
exhausted itself. and that the continued ease
of money was calculated to cause renewed pur-
chases. even II the Investment demand has
been largely satisfied. London sales of our
securities has slackened largely. it would
SEEM because the supply is exhausted. but
every incoming steamer still brings large con-
signments of securities principally Of dividend
having stocks standing In the of foreign
investors. This of securities adds to the
floating supply in Wall street and causes in
creased borrowing. but no effect either on the
abundance Of supplies of money or on the cur
rent rates Of interest be observed. In
fact, the disposition which existed in some
quarters to look d tightening of the fnan-
cial situation as among the possibilities of the
immediate future has measurably subsidized.
TTnfavorable comment is naturally heard
garding the raDidity with which new indus
trial combinations are formed and the vast
increase in the amount OF securities OF such
concerns. It seems. however that the conser-
FatlVe way in Whlch they are treated III man
cial circles tends to lessen any Danger from
that source, and speculation in them is largely
confined to outright purchases of the securi-
ties. Good railroad earnings continue to be
the rule and the street has been encouraged to
look for some extremely favorable results in
regard TO net earnings as an effect of the pres .
ent maintenance of rates and the adherence of
the companies to established tariffs. The prirl-
cipal speculative influences of the week have
thus been bullish. and though some of the lead
inactive the interests which took a
4. position on the long side have found ample
following among the smaller professionals and
the large section of the public which the recent
strength of the market has brought. perma-
nently it would appear, back into Wall street
DUNs REVIEW OF TRADE.
NEW YORK, Feb 17-R G. Dun's Weekly
Review Of Trade will say tomorrow:
Beyond question business is expanding and
in many branches it is larger, notwithstanding
speculative combinations which tend to reduce
It. All monopoles attempted monopolies
stimulate business while they coming but
tend to sthe IT after they come, and the throng
of combinations and trusts which have been
formed proposed has given a temporary
but very questionable impetus to trade. But
beyond the influence of these there is a genu-
Inc and substantial enlargement of business
due to the upexampled prosperity of a grow
ing population.
The weeks output of pigiron February l was
237, 639 TONS against 243,516 January 1, and 235.
521 December l. The average weekly produc-
in January than in December and the unsold
stocks reduced 1851 tons in January,
against 37.449 in December. that the appar-
ent consumption in manufacture was in Janu-
airy 1,1l0.07s tons, against 1,O9S176 in Decem-
Der. The stoppage of several furnaces for
necessary repairs at time when the demand
is almost pressing has caused some fear of
famine, although quite number of furnaces
have started since February l, or are about to
start. Plgiron has advanced, but the largest
consumption ever recorded in any month is in
about TO be controlled or advanced in price
by combination. There are so many of these
in the iron and steel industry that the present
market does not clearly indicate the magnitude
Of the demand. and disappointment in some
81 in steel rails. with the entire capacity of
all works engaged until after July l, is not
unnatural nor is the strength of plates the
legitimate for which is beyond all prece-
dent. and the same is true of bars, the guam
tity required for cars. railway and agricultural
tion lifted prices FIVE per cent, with very
heavy order from Indiana gas works.
No fictitious demand has caused the rise in
grain for the exports continue so heavy in
wheat and corn that the advance of 3A cents
in wheat is abundantly justified. and the rise
OF u of cent in corn seems scarcely enough
for the occasion. Atlantic exports have been
SIS bushels, -four included, against 3. l42 o57 last
year. and for the crop year thus far the ex-
ports. including fio g have been lSS 5 7S,7f4 70
is remembered that the exports of corn are al
most as large as the largest ever known there
is reason for establishment at the continued
foreign demand. That it persisted in spite of
the strong advance in prices here since Septem-
Der l is most encouraging. 1t is obviously i'm
possible TO judge how far it may 60 There is
much inquiry for wool, and the manufac-
turers have a larger demand for heavyweight
goods, but they maintain that they cannot pay
prices now demanded. and most of the pur-
chasers made appear to have been at some
Concessions Sales at the three chief markets
were 6,160. 200 pounds. which is about the
weekly consumption with Eastern mills well
account and in fine and fine medium territory
sales are mentioned at 40 cents cleaned and in
Ohio Xxx at 26 cents and upward
The minor metals have been running weaker
with a reduction in London although the in
| duStrieS have SHOWN no abatement Oh HSInaflC
in this country, and the rise in prices here Is
largely due to increased consumption.
Failures for the week have been 176 in the
! United States against 295 last year, and is in
| Canada against 80 last year.
BRApsTREETs ON TRADE CONDITIONS
NEW YORK, Feb. r7.-Bradstreet's to-mor
row will say:
! Following the long continued cold wave, cul
! u,inating in heavy snow and sleet storms ant
! Indictment weather generally throughout nearly
| all sections of the country, come reports of re
| vfving spring trade and of efforts to ascertain
/ the extent to which material interests have
| suffered All things considered, the damage
! so far indicated while serious in some sec
| tions. has proved less than might have beer
| expected in view OF the severity of the vista
| ton. Exception is of course made in the cas'
| of the winter wheat crop. from which trust
| worthy reports as to damage not forth
| coming at this early period of the year. From
! the South come reports of more serious dam