The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-02-04
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK, Feb. Stock values received
severe test to-day, the market at one time
bordering on the panic stage through the enor-
nous outpouring of stock from professional and
commission house sources, but the day left off
With irregular changes of fraction either way,
with the tone strong. Before the opening Ii
was argued that yesterdays market showed
that reaction was under way but 1t was
sontended that the forces resisting a decline
n the absence Of extremely unfavorabe news
would not allow prices to recede very far. The
absence Of a decided tone to the early market
was in part due to the expression of a promi-
nent bull leader that the market had a tired
look. The market opened rather irregular the
Erangers showing d moderately good tone on
st. Paul,s increase of Sl61. 600 for the fourth
week in January. The specialties were inclined
10 sag and commission house support was mod
trate. ouch strength as there was In the mar
ket disappeared under professional pressure
There was an absence of support from large
interests ana realizing set in, which gave the
pears encouragement for a vigorous dernonstra-
ton. which, after feeble rally, resulted in
many stop orders being caught II was said
On the floor that heavy selling came from
washington and the rumor gained currency
mat the ratification Of the peace treaty was
n jeopardy. The market felt the effects of the
heavy realizing that took place last week and
ms. The lowest prices of the day were shortly
liter noon. The grangers were down from Isl
~ n, %: aul 10 ~ IN burlington, the coalers
from ~ in New Jersey Central TO 21s in Read
ing hrst preferred In the Pacifcs the range
vas from IL TO 29 the maximum loss in
southern Pacific. In the specialties the decline
vas even more pronounced. ranging from
New York Air Brake. In this group Manbattan
ana Tennessee Coal each lost 3%, Peoples Gas
Brooklyn Transit and Federal Steel about !
zach and Consolidated Gas az Lake Erie pre
Leerneaa cropped a and the preferred stocks of
points each. The declines were very general
ana embraced almost everything of conse-
9uence' as is indicated by the, above details.
ment seemed to have lost its force and liQuida-
tion ceased The bull leaders took hold Of their
Nd h11v
which continued practically to the close. with
only momentary slight recession on profit
taxing. Traders generally took the long side
toT turn, on the idea that much of the weak
held stocks had been transferred to stronger
Gost reaqily 10 the recovery were New York
Eehtral, pennsylvania, st. Paul. Burlington,
terred, Tennessee Coal Consolidated Gas and
Manhattan Metropolitan Street Railway made
a very handsome gain for the day. It rose a
point IN the initial dealings, broke and rallied
~. The buoyancy in this stock. together with
the resistance shown by New York Central on
ne preak. made them leaders in the recovery
The advance in Metropolitan Street Railway
was said to be based on the belief that the
Metropolitan Company had obtained control of
the Third-avenue line. Standard OIL stock
cropped from 81 30 bid last night to offered at
and then rose to 81 40 and closed at 81 35a4 as
The opinion was entertained in some quarters
1hat ihe extra dividend on the stock would be
OF per cent which made. Consequently
disappointed holders, who had bought pre-
viously in expectation Of a handsome distrbu-
tlon, offered their stocks. and in the absence
Of a market speedily brought about the slump
The bond market yielded sympatheticaliy
with stocks. Total sales. "a, 460 900.
=. United States new As coupon declined q and
the SIS advanced IL.
Total sales OF stocks to-day 937 400 shares.
Including; Atchison, is; 220; do preferred, 49,
$50: Central Pacific, 1920 Chesapeake and
Ohio, "A 1870; burlington. 3.52O; Denver and Rio
Grande, II. 800; do preferred. 5545: Louisville
and Nashville. 1920 Manhattan. Sc. O20: Metro
politan Is, go; Reading preferred, 52,3Ss: Mis-
souri, Pacific 1214T; Missouri. Kansas and
Texas preferred. 71sO; New York Central - =
o2o Northern Pacific. 80, 02O; do preferred, Ia,
$40; Reading. 10000 Rock Island. Il 800: St
Louis and San Francisco second preferred "a :
500 Union Pacific. 1920; do preferred. % 800;
ST. Paul 300; Southern Pacific. 81 275: South
ern preferred. 500: Texas and Pacific 1000.
Tobacco. 16.05o Steel. 1920; do preferred, IL,
200: Peoples Gas. 1920; Consolidated Gas.
5925: Brooklyn Rapid Transit. 25 720: Pacific
Mall. 1865: Sugar, S. 500: T. c. and l. 22675:
Leather preferred. $780,, Rubber, 1896; Chicago
Great Western IS 050