The San Francisco call., 1899-05-27
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK. May 26.-The market opened
with a continuance of the upward movement
which was in force yesterday. Yesterdays
sharp advance brought in a moderate volume
of buying orders TO the commission houses
which were put in at the opening. There
seems to have been also considerable enthu-
siasm awakened IN the American department
of the London market by the same cause. The
international stocks bid up there before
the opening here, and the arbitrage brokers
promptly BID them up 10 a parity here. 1t
soon became apparent, however. that the bull
party were more prepared TO make exten-
sive commitments on the eve of a holiday than
the bears, and the activity came to a
standstil. The feverish and erratic tendency
of Consolidated Gas helped to unsettle the mar
kets. Its sudden drop supposed by out
siders 10 indicate some new possibility in the
franchise tax laws. and other stocks in the
same group fell away in sympathy When the
announcement was made of the action of the
gas directors in reducing the quarterly divi-
dend rate from per cent to IL per cent there
was some recovery in the stocks of other New
York municipal corporations. AS a rule the
prominent high-priced specialties were weak
sugar was conspicuous sufferer on account Of
the reduction in the price of cube sugar which
presaged another stage of a war of sugar pro-
ducers and eftectuaily demolished the recently
current reports Of an agreement upon which
the stock had advanced. The extreme decline
IN gas was ten points, and it closed only q
quarter above that. Sugar lost six points, but
rallied three and closed with a net loss Of S2.
American Steel and Wire, Anaconda and Amer,
ican smelling were points of weakness. Man
haitian. Brooklyn Transit and Metropolitan
losses When the selling movement had spent
its force in the afternoon heavy buying orders
appeared for Atchison preferred and ST Paul
which Will be paid out for the most part on
a few slight losses in the railroad list The
market eased off slightly with the final break
IN the specialties, but many railroads show
fractional gains the day.
The market for bonds continued relatively
more active and stronger than that for stocks
a number Of high record prices being
made. Prices yielded at some points in the
list with the break in stocks and made the
days changes mixed. Total sales, 81, 1862 900.
United States threes registered advanced Il
and the old fours coupon 4 In the bid price
The total sales of stocks to-day were 1893 357
shares. including: American SmeIter pf4ferred
3400. American Steel and Wire 16. 800 American
Steel and Wire preferred 1000. American Sugar
6L70O,, American Tinplate $780, American To-
bacco 2O.500. Atchison preferred 81 400, Balti-
more and Ohio new $780, Brooklyn RAND
Transit $500. Chicago, Burlington and Quincy
(rghts) 14,40O. Chicago, Burlington and Quincy
5000. Consolidated Gas sc. 600. Continental To-
6acco %, 400 Federal Steel Company II 400,
Metropolitan 5400. Missouri Pacific 1000 North,
ern Pacific $500. Peoples Gas 1900 Rock Island
S4o0, St. Paul $500. Southern Pacific 900, South
ern Railway preferred 400, Tennessee Coal
and Iron b., 700 Union Pacific 5000. United
States Rubber 1000