The San Francisco call., 1899-04-15

NEW YORK April 14.-Bradstreet's finan-
cial review tomorrow will say: This week has
witnessed another remarkable exhibition of the
force and strength OF the present bullish specu-
lative temper. The heavy declines and liqui-
dation of industrial securities, accompanying
the rise in call loan rates and the Increased
disposition of tenders to reject trust stocks
or high-priced specialties collateral, was
apparently checked last Saturday by the ap-
pearance of only moderately unfavorable
bank statement and by the evident disposition
of large interests in the market to support the
railroad share list. On Monday the day for
call loans eased off to notable extent. the
rates of money for call showing increase,
and though the bulk Of the loans were made at
per cent, money was freely offered before the
close at per cent less. 1t would that
the interests which had charge of the money
gathered for the Chicago and Alton syn
dicate. the Manhattan stock subscriptions
and other large stocks took steps 20 release
their funds. number of strong loans were
also made and the money market a whole
failed to present the alarming symptoms which
have furnished grounds for the break which
came later in the week Although the dis
elimination against industrials continued. 1t
thought that II was not so severe or gen
eral The street at large was inclined to the
belief that the liquidation in industrials
putty process and has checked disposition of
the public to trade in such securities on in
sufficient margins and of certain proportion
of brokerage, firms to carry unduly large
amounts of those stocks for speculative ac-
counts. Yet, in spite of the prevalent idea that
the market when it regaiIaed its tone and ac-
tivity would turn to the railroad share list
rather than to the industrials and specialties
the latter portion Of the market has shown
remarkable resumption of its strength and ac-
tivity and developed renewed public buying
which 1t is however hoped will be conducted
upon a more conservative basis The railroad
stock list naturally the first to recover
from the depression. Evidences of effective
support from large interests in New York Cen
trail, Big Four and other Vanderbilt securities
were the most prominent features OF the market
on Monday. The Pacific stocks also advanced
and there were bullish demonstrations in Mis-
souri, Pacific and other lower priced railroad
shares later on. Neither the Samoan trouble
nor the bad Government crop report had much
effect, though the latter incident accompanied
as it was by a sharp advance In the grain mar
ket and additional tales of damage 70 winter
wheat held the Granger and Southwestern
stocks back Renewed advances in the stocks
of the Flower group, such as Brooklyn Rapid
Transit, Peoples Gas and Federal Steel fol-
lowed by displays of strength in Ameri-
can Tobacco Continental Tobacco and
American Sugar, causing a renewal of
the active buying in the industrials
at large, many Of that class of stocks both
those On the Stock Exchange list and the old
ones which still traded in on the outside
market. recovering large part of their pre-
vious declines. Manipulation was very apnar-
ent but at the same time the public buyinp
showed UNEXPECTED revival. and London
while doing little here, in the main a pur,
chaser of our stocks, though the speculativc
sentiment on the other side is held in check bI.
expectations of high money as the season adj
vances.