The San Francisco call., 1899-08-12
BradStreet'S Financial ReUie1g.

NEW YORK Aug. 1l.-Bradstreet's s financial
review tomorrow will say:
rather bullish temper prevailed this week
in spite of the continuance of narrow profess
sional speculation slight relaxation of call
loan rates, which though by means general
nor 10 all appearances aSsuredly permanent,
resulted in quotations of 212Q319 per cent
toward the end of the week, had a good ef-
feet and supplemented the favorable conclu-
sions of Wall street about the crops and their
results in connection with railroad traffic and
earnings. There was a disposition to take an
exaggerated view of the significance of the
Secretary of the Treasury's order to resume the
issue of gold certificates to the extent of S10,-
goo 900. The plausible view of this matter Is
that It is an experiment which If successful
in relieving the demand for notes Will be fol-
lowed by the return of the more or less re-
stricted issue of the certificates in question.
The market, however, was influenced for
moment by unfounded reports that the plans
OF the Treasury included increase in the
Governments national bank deposits, or other
measures calculated to help the money market
while subjected to the pressure of the crop
movement combined with the augmented de-
mands arising from the activity of business
Increased interest is shown in the condition
of Western banks and in the question of how
far they can provide the money needed to har-
demands on New York for existence the mat
ter being emphasized by the fact that con-
siderable amounts of money from other cities
said to have been loaned in New York this
to elsewhere and the probability of gold imports
the autumnal grain movement be
gins was an additional reason for the increased
Indifference with which Wall street regarded
the question of higher money rates as an OBJ
stacle to further exhibition of bullish specu-
lation. Consequently the frmness of time
money, which has been held at 412Ql5 per cent
had decidedly less influence, though in con-
servative quarters the necessity of caution is
urged in View of the high prices for securities
and the probability that money Will command
permanently better rates. London was hardly
a factor in this market except so far as the
action of its money market Influenced the finan-
Cial situation here. The foreign transact CtionS
in stocks about equally divided be-
tween buying and selling and amounted to lit
tie Activity on the part of the commission
houses was restricted indicating that the pub
lies share in speculation is rather unimportant
though toward the end of the week there ap-
peared to be renewed buying from that
source Pool operations in some of the leading
stocks and specialties furnished occasion. how
ever, for nearly all the activity the market eX-
hibited, and In most cases where efforts were
put forth to advance stock a following of
buying orders secured. In spite of its
strong undertOne, the market has been
what spasmodic and irregular and in the bond
department the combined effects of dulness and
higher rates for money produced some conces-
sions, particularly among bonds bearing low
rate of interest, but which sell at a high
figure.