The San Francisco call., 1899-07-23
EASTERN MARKETS
Nrw YoRk sToCK MARKET.

NEW YORK. July 22.-To-day's stock mar
ke1 was an unimportant, even al insignih-
cant affair. London manifested some contin-
ued interest in American securities, marking
Up prices rather above the point reached on
this side even on the opening rise. The open
ing advance here finally sUccumbed 10 the
svrrnathetic influence Of a reaction on Sugar,
which lost over q point Heaviness IN other
tndusrrials helped TO hold back the market.
The bears We're no more disposed TO operate
than the bulls. The bank statement brought
realizing movement which carried prices OF
in some cases point from the pest ROCK
Island and fev other stocks which have been
going up Tor several days being most affected.
The offerings were we'll absorbed and the short
session ended with quotations not Tar from
last nights prices. The oppressive neat pre-
vatltng mad something to do with the extreme
Iasstt1de cf the trading. Fort Worth and Den
Yer City first mortgage bonds rose ~ on the
acguireInent of tratic rights between Denver
ana Pueblo by the Colorado and Southern,
which controls the road.
Net changes in prices OF stocks for the week
gre mostly small and showed both gains and
-l- 49, ~ ~ - 40 the n1o,ar,enr
cary Par %. s,TIs+ 7, ~ vas the smallest
weeks business of the year Even dealings
by professional operators had dropped 70
month IT IS easy - discern that the best judges
failed to correctly estimate the worlds needs
which was confidently expected after July has
been successfully delayed from day 10 day and
q the Bank OF England IN the first days of
July but before the week was over the mar
has been ever since at rates up 10 ~ per cent,
against the banks official minimum Of 3l2
per cent Only in the last three days has there
been any remarkable relaxation in money
Etringency at the British capital It has been
obvious as the situation developed that Lon
cou and the Continent We're going TO be more
dependent on the United States for relief than
was contemplated and the continued hardness
of money here has aroused doubts d the
availability OF that relief. The situation is
conclusive evidence Of the continued strong
influence Of America in the money markets Of
the world The industrial activity In Ger
many, especially in iron and steel, and the
speculation of tho Berlin bourse have kept
money high at Berlin. In Great Britain itself
there has been expanding trade and interior
demand for money beyond what has been
counted upon. and the call If d portion Of the
japanese loan pinched the London market. In
the face - these conditions. when London saw
the money rate in New York holding high and
very slow u yield, the speculation in securI-
Ties came 90 a Standstiu not only in London
bur the Continent and in New York.
The street railway strikers in Brooklyn and
Manhattan boroughs Of New York aroused
FaUe anxiety as possible symI tom OF gem
er#i unrest among wage earne-s. This has
been an important factor in disc0uraging act
i've operations In the stock market while 50
many favorable conditions seemed TO presage
a r--. .1 prices.
Dealings in bonds have been dull and some
Issues -eH away IN prics, but other moved up
rars On active demand United States regis
tered IS and IS advanced =. the old IS reg
lste-el 4 and old IS coupon z in the brs