The San Francisco call., 1899-04-07
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK. April Stock prices started
badly to-day and closed weak at the
lowest Crop advices were unfavorable and
these were given color by the advance in
wheat, but the principal cause for the shaking
OF confidence was a renewal Of stringency on
the call money market. Discrimination in
loans in certain industrials and specialties
made some brokers disinclined to carry mar
Einal accounts for some Of these properties
This attitude was taken advantage OF by the
bear contingent and promiscuous selling Of the
general speciality group followed. Among the
more conspicuous breaks were Brooklyn Tran
sit IS, METROPOLITAN 81. Manhattan ~ Con-
soEdated Gas and American Steel : each. Fed
eral Steel and Tobacco about each and many
other interests from to 4 Some Of the stocks
closed above the lowest. Brooklyn Transit
Manhattan and Consolidated Gas being con-
spicuous. The declines in the more active rail-
ways aoproNimated points. The acknowl-
edged bull leaders. presumably having lidui-
dated, seemed apathetic in selling during down
ward course Of properties with which they are
laenNhed- There We're occasional rallies ap-
parently, only 70 afford new level from which
70 let 90 stocks. The recent continued advance
IN many stocks, which eliminated much of the
snort interests, made the decline rapid as there
was no support from this quarter. MANY sion
loss orders were uncovered thus acceIers +ir1e,
the decline. London early purchased about = ,
much as IL sold yesterday, but the market
there followed local quotations so nearly
that early trade business ceased. There was
and per cent on. railways but 2 per cent or
more IN addition was eXacted on industrial II
collateral, and y Per cent for call loans was
reached at times during the day Before the
close money was offered down from S TO 4 per
cent on railroad collateral after more urgent re-
Quirements for the money had been met Int
later loans were made at per cent. The CON
tInued high rates for money had NOT
brought as much money from outside
points as expected. Boston, however loaned
some money in New York to-day. The demand
Tor money for interest and dividend PAYMENT
together with the recurrent necessity OF fnanc-
ing Industrial companies, were assigned as the
reason for the present scarcity Of funds
Heavy offerings Of the active issues were
made IN the bond market to-day, coincident
with the declines in stocks. Total sales SO 7q0 :
600. United States hves advances Il and the
threes and the new. fOurs y in the bid price
Total sales Of stocks to-day were go 4OO
shares, including: Atchison preferred 3s $40
Burlington 30. 500, Manhattan 49, $50 Metropoli-
tan 9345. Mexican Central IS, 060, Reading first
preferred 1850, Missouri Pacific a. no II Z
and T. preferred 80 SO New York Centrsi = =
$50. Northern Pacific 1856, Rock Island 10 5so
Union Pacific q s55. Union Pacific preferred
50 313, ST. Paul 20 1876, Wabash preferred II 300
American Steel and Wire S. 1886. American Steel
and Wire preferred $500, Paper 67T5 Cotton OH
1920 Spirits 4045, Tobacco 1850 Federal Steei
z. l45. Federal Steel preferred 1s $50 Peonie :
Gas 23,150 Consolidated Gas 1920. Colorado FIj 81
and Iron 514S, Brooklyn Transit 1881 Con
tinental Tobacco l9 395, Pacific Mail 600 Suear
q, ,l06, Tennessee Coal and Iron IS s36 Leatber
53l5, Leather preferred 2l,S5O Rubber 70 470
Western Union u.34S. St. Louis and Southwest,
ern preferred 1890, Chicago Great Western 60O0