The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-05-03
COMMERCIAL WORLD.

with good gains for the day. A considerable
advance. ranging from l to points. in the
specialties occurred in the first half hour. aided
by purchases of round amounts of the nterna-
ttheH suffered on continuance OF yesterday ;
heaVy liquidation, and receded sharply. the
specialties losing from to nearly points. BY
noon liquidation had practically ceased, ana
there were rallies, which, among the special
ues, ranged from 81 to SA. The standard rail
and Delaware and Hudson which made net
gains OF IL and 314 respectively. Among the
Speclalties, the net gains extend to 144 in Air
brake. ~ in Metropolitan, 3Ss in Manhattan,
51s in Brooklyn Transit and an average of
points in Federal Steel, Sugar, National Steel
rates ruled at per cent most of the day and
their steadiness was source of confidence as
was attributed TO the London purchase or
stocks. Another reason which might be as
signed for the rally was the fact that the Ford
irahchlse tax Dill would not inquire IN the tax
levy OF this year. and that the hope OF those
interested in the securities affected was that
the delay Of a year might bring about a
modification OF its provisions. The sharp
speculative contest between the bulls and bears
In Brooklyn Transit which ultimately resulted
in favor of the former, was, because of its
great activity, sentimental influence in favor
of taking the long side in other properties. The
dissemination OF story that the sugar in
sders were indisposed to come TO terms with
present rivals because of the fear that other
syndicates stood ready TO start up d new
opposition, was supposed to have something to
do with the dip in sugar. but the readiness of
a
a rally. in which the earlier loss was more than
recovered.
Besides the tax franchise bill the rate war
induced liquidation in Consolidated Gas but
covering of shorts and other purchases caused
the stocks to rise above last nights figures.
The rapid fluctuations with alternate pro-
nounced weakness and strength caused a re-
duction in the outside interest and left the mar
ket much Of the Gay in the hands of the pro-
fessionals Late in the afternoon. when the
market broadened out and a general move
ment was under way. activity of commission
houses was again noted.
The market left off strong at generally the
best prices. Some recessions occurred in the
bond market in sympathy with the early
liquidation in stocks. but there were later
partial recoveries. The total sales 50, 525 900.
United States Is coupons and the new As
COUPONS declined = in the bid price.
The total sale Of stocks to-day amounted to
692, 5SS shares including American Steel and
Wire, 1880; American Sugar, 45, 100: Atchison
1000; do preferred, 1890; Brooklyn Transit
Nl300; Burlington, 90 200; Chicago Con Trac-
ton. 500; Colorado Fuel and Iron, 1900: Con-
sohdated Gas, 1s,SC0; Continental Tobacco, 40
zoo; Denver and Rio Grande preferred 1900:
Federal Steel, S4.500 do preferred. 800: Man
haitian Con, ga 000; Metropolitan street 40 600;
Missouri Pacific, 80, 800; National Steel 1900;
North American $500; Northern Pacific $500:
Pacific. $500; Pennsylvania 10 800; Reading first
preferred, l0,500: Rock Island $500; St Paul
1850; Southern Pacific. 49, 400; T G. & l.
81, 800; Union Pacific. $500; do preferred. $500:
United States Leather preferred 300; Western
Union, 1900; silver bullion, 10 eco