The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-12-16
EASTERN MARKETS


NEW YORK. Dec 1.-THE strength mani
Tested by the stock market IN the face of the
engagements of gold for exports by to-mor-
row IS steamers was the feature % the day.
There was considerable hesitation and some
reaction in the early dealings on the recur-
renee 90 fears over the effects OF gold ship
rnents. Yesterday rally Id stocks was based
On the hopes that gold exports had been avoid
I'd for the tme being. The fact that appre-
hension over this development was still APP
parent this morning made the strong advance
IN prices In The very face 90 the news OF the
Ing eNchange rate to-day not only tailed 10
recover. but declined an additional fraction
20 81 Nia Tor demand. The shipment u gold
a. This level for exchange demonstrated that
considerable advantage IS offered hoy The Bank
~ England az an inducenent for the ship
uent n DIS known, Ia TACT that the English
institution allows interest 10 the shippers FOR
The period ui the transit Il has also adj
Nanced the buying price ~ gold both clr
American eagles and Tor bar gold. For the
former price had been advanced one penny
an ounce Do two days. The transaction may
fl-eial one. Nhether IL was ior this reason
that the local stock market took small ac-
count OK the beginning 90 the export move
li'ii in SUBJECT Ilr hlfmlae ! ne reported
euHarement az 81. 70. 900 in gold FOR export
caused 30 stnening uf the local money rate.
which ruled from 20 6 per cent all day. The
incidents of the day which served TO offset the
gold exports were several In the first place
was thc conviction that to-morrow's bank state
j losses a. the Slh-Treasur,. which foot up
s. $4,000. have been 20 Ear offset by the re-
ceilts Of currency from tho interior and OF
gnli from Canada that The hanks net losses in
cash are figured an Jess than 81 SOC 90 To-
morr0Nf gold shipments. of course DO not
rEure Tho weeks extensive liquidation in
The stock market. with SIS consequent -riuc-
tou Oh loans, d. certain o. have more than
Offset ifs comparatively slight decrease in cash
= rise lu The surplus received from the banks
is Therefore believed 20 Boz well assured Tho
arrival fram cuba of United states trans
Tort brings an addition 60 THE available SUM
ply OF specie - G..50.u1o. assigned 10 a trust
company. and ~ over Si00.9 81 plstofapc
funds. Tho absence az disturbance IN the local
money market hy The Withdrawals OF gold and
are favorable effect produced on the London
market aroused hope that The operation ma.
prove beneficial 10 The financial world an large
in sufficient degree 20 onset any local iacoD-
Neuicnce. a favorable effect which was pro-
oucel on fhe stock market her. by the baovaa.
tone - mo bond market argues a satisfactor,
fotte.nent ~ the difficulties threatening The
nlarkct Satisfactory gains in the prico
throughout The list ARE The net results OF line
days trading.
a late advance % lg% in the price of p C..
c C. ana ST. Louis was q feature of The dav
Price changes in bonds were somewhat l.
regular ana were fCr tie most mart nar-1,E
Total fales gar vailc 81. $50. 600
United States new a. declined = ard ID. 3.
advanced = GA the bid price
Ar-N YORK CTa,trEc TFcq.