The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-05-23
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK May 22.-The market dr1fted
downward almost uninterru2tedly to-day until
The aggressive upward movement in Sugar de-
veloped late in the day This seemed to affect
the whole list by sympathy. and prices re-
tracted their earlier downward Course. They
only recovered 10 Saturdays level. however,
in a few cases. Losses on the day are gen
eraI but are within point in most of the
railroad and prominent stocks There was no
real support to the market at any time the
outside interest in securities being about nil
Neither there any serious pressure of
liquidation The result a dull and apa-
thetic market. with the bears nbbing here
and there TO develop weak points in the list.
They were not aggressive in their tactics and
did not dislodge any large amounts of stocks
the market becoming practically stagnant
whenever this short selling was desisted from.
The dropping tendency OF prices was neverthe-
less marked and was assisted bv positive weak
ness at few points. The stock companies which
profit by franchises within the State of New
York were especially weak on the assembling
of special session Of the Legislature to act on
the franchise tax bill. Metropolitan Street
Railway, Manhattan, Consolidated Gas and
Brooklyn Transit all showed conspicuous de-
cllneS extending from to points and over
IN the case of all but Manhattan. Third Ave
nue. was a conspicuous exception to the grouD
and rose points a proposed new stock is
sue. These stocks drifted downward on politi-
cal gossip regarding the chances of the fran
chise tax bill. and all showed notable rallies
OF Brooklyn Transit and Consolidated Gas
which closed points lower The grain-carry-
ing railways, both in the West and Southwest
We're IaYorites Of the bears continued talk
OF crop damage. Anaconda Mining American
smelling, the iron and steel stocks generally
ana a number Of other new industrials showed
conspicuous weakness. on the other hand New
YORK Airorake was marked up 10 points. The
afternoon rally was induced by the vigorous
upward movement in Sugar to 16l on very large
ana confident buying. The uneasiness of the
shorts over This demonstration of strength
drove them 70 cover in other stocks making
the close quite active and firm. The holiday in
London withdrew the usual influence from that
source Money continued abundant and easy
and the foreign exchange market abated none
Of its hrmness, though there were no large de-
nlanus for bills.
The bond market was affected in sympathy
with stocks. and showed abatement of its
recent activity and developed weakness in
spots. Early in the day there was continue
ance of the large absorption of some of the
new issues. but this fell off as the day pro-
crossed Total sales, 50. 170, 600
Government bonds showed no change in quo
tatons.
The total sales of stocks to-day amounted To
42l, 500 shares, including: American Steel and
Wire 1880. American Sugar As, 0O0 Anaconda
L 300, AtchlsOn preferred q, 900, Baltimore and
Ohio $780, Brooklyn Rapid Transit 65 600 Bur
Hngton H,ScO Consolidated Gas 5000, Continen-
tai Tobacco 400, Federal Steel 81 100, Louisville
and Nashville 1000, Manhattan 16 800 Metropoli-
tan street Railway 400 Missouri Pacific 5000
Northern Pacific $780, Pacific Mall $500 People s
Southern Pacific 400, Tennessee Coal and Iron
$500, Union Pacific 610, Union Pacific preferred
$500, United States Rubber BOO; silver bullion
certificates, 30, 600.