The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-05-24
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK May 23.-Neglect Of the Stock
Exchange by the outside public continued to
be the marked feature Of the trading, and.
as is usual in a narrow market, prices drifted
uneasily up and down, following the erratic
movements of special stocks. Dealings were
evidently almost wholly confined to the pro-
fessional element, who seek profits the
days turn in prices AS this class of dealers
watch pretty closely for what other people
are doing and proceed to do likewise, the net
effect in a days business. taking day
with another, is not large. Yesterday late
upward movement was followed by realiz-
ing this morning and later by a sharp ad-
vance. which was practically wiped out be
fore the close Sugar was the center of in
tsrest in the market and rebounded quite
strongly from the early pressure, together
with the affiliated glucose stocks.
But realizing took off all the early gain and
left 1t at the last five points below the high
est and near the low point of the day. The
drop in Sugar accompanied by a strong
rally in the New York municipal stocks. Con-
solidated Gas. Manhattan, Brooklyn Transit
and Metropolitan rising from to points.
This concurrent movement IN the Leading spe-
cialties gave quite an appearance of strength
to the market for a time. and their stocks
gained in the upward movement. The weak
ness in wheat. especially the reported selling
from the Southwest, helped this movement
but the persistent reports of insect damage
and news from abroad that American wheat
practically unstable at present prices
helped the late break in Changers and South
westerns. There was a growth Of uneasiness
also over the persistent hardening tendency
OF foreign exchange. The actual rate for de-
mand sterling touched S. S7A to-day, which
is near the gold export point.
The continuing ease in money suggests that
the method employed to finance the Philip
pine payment to Spain has forced something
Of redundancy in the local money market
resulting from the rather artificial stiffness
of exchange rates Exchange on Berlin also
hardened a fraction to-day, although that
money center reported to be buying
American stocks in London.
The newly f1oated industrial stocks contin-
ued rather conspicuous by weakness Ana
ket Amalgamated Copper, the payment of
subscriptions for which completed yester-
day, fell to par, which is the subscription
price. The closing on the Exchange easy
in tone, though rather dull, and showed net
losses in ell but a few cases.
There a good demand for some of the
reorganization 4 per cent railroad bonds the
touching record prices. Total sales, par value,
1914, 600.
United States Government bonds unchanged
The total sales of stock to-day amounted TO
l0S. 62S shares including: American Steel and
Wire, e1O0; Sugar, 10000; American Tobacco
p200; Anaconda, $500; Ann Arbor preferred
BOO; Atchson preferred 25.5OO; Brooklyn
solidated Gas. $500; Continental Tobacco 1900:
Denver and Rio Grande, 1900; Federal Steel
10 600: Glucose 500; Manhattan 10 500 Met.
ropolitan Street Railway, $500; Missouri Pa
ci1c. $780, New York Air Brake. 3100 Northern
Pacific. 300: Northern Pacific preferred 5000
Pennsylvania, 1900; Peoples Gas, 500: Rock
Island $500: ST Paul 5000; Southern Pacifc
cihc. 22O0 Rubber, $500; Wheeling and Lake
Erie $500