The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-11-28
EASTERN MARKETS
Nc5U York Stock Market.

KEW YORK. Nov. 27.-People who bought
stocks on Thursday and Friday found the e1-
pected market FOR them this morning and
awaited themselves OK the opportunity 10 sell
OUT 20 large extent. The sub-treasury opera
lions last week made IL sufficiently obvious
that strong bank statement would be forth
coming on saturday and the strength In
the market on account OF Saturdays bank
statement had therefore been discounted. Prices
were opened high and the advance IN Ameri
cans ia London had the appearance 81 being
manipulated from New York FOR the sake OF
influence un the opening here. At all events
The London market was depressed generally
Qn The rise in the money rate and sold stocks
here from the opening until long past the
usual hour Tor cabling. Pennsylvania was an
exception ana was eagerly bought by London.
This demand was largely responsible FOR the
ttock s. rise ~ 80 over Friday during the first
hour II subsequently reacted and saved only
- ~ net gain. The high prices AZ the opening
were the signal Tor very extensive realizing.
which HaH most marked Ia the Baltimore and
Ohio Issues The opening price In the pre-
1erre4 ran all the way from 50 down 10 k5a.
There were occasional rallies In these stocks.
but the pressure " proht-taking was renewed
and their close was near the lowest. al net
losses ~ li. and IL respectively. Union Pacific
was obviously weak from the start. These
were sufficiently powerful factors 10 decide the
general course of the market downward. The
heafiness became quite widely disseminated as
the day progressed and many net losses OF
point or over VIII be observed While the
general course pi the market was reactonary
ZONE points OF strength persisted. Manhattan.
Federal Steel American Hoop Chesapeake and
Ohio and Peoria. Decatur and Evansville rose
from 10 2 points without maintaining the full
advance. Leather continued very erratc over
q range ~ 81 points below Fridays close.
The late break Ia sugar 70 l54 and the ST.
Pau statement FOR October showing decrease
a. the earnings % nearly $3.50 900 emphasized
the late weakness. -. Paurs Increased operat-
ing expenses or improvements charged 20 that
account haEe now wiped out all % the "a
creases in gross earnings since July ! and
rahllrhcd "A net decrease fOr that period OF
nearly 500 600. The condition Of the money
market vas greatly affected by the improved
showing 81 the banks IN Saturdays state
ment The fact was pointed out that while
the statement 81 al the clearing -house banks
showed "a decrease IN loans Of g. rs. 500. and
an increase 81 cash reserves OF s.. es4 p. a
single link IN the association reports de-
cr,saee IN loans ~ s. Ise 800 and an Increase IN
cash ~ ss 80 ~. with this single institution
withdrawn from tho showing the average con-
dti0n u the remaining banks. therefore. has
not been improved. The majority OF the day s
loans were made al per cent and the rate
for sterling exchange advanced sharply In re-
rpouse % the money pressure IN London. There
was good absorption % railroad bonds and
prices advanced. Total sales par value, 81.
So GEO.
tinted states - advanced y and the IS and
rev a. = In the bid price. and the 5s de-