The San Francisco call., 1899-04-09
EASTERN MARKETS.
NEW YORK STOCK MARKET.

NEW YORK April S.-Interest in to-days
market centered about the bank statement,
which on its appearance received varied in
terpretation. The first impression seemed ia
vorable. as prices rose at Il lively rate. but
fuller analysis Of the statement appeared less
optimistic TO some, and realizing set in. leav-
ing the market weak at the end and irregular!y
changed the day. The speculation was
characterized all day by feyerishness and ire
Eularity. After early show of strength
weakness appeared and some stocks lost per
cent. After the shaking out Of many specula-
tors yesterday the nervousness to-day may be
considered natural. Some fortunate purchasers
yesterdays low level accepted handsome
profits to-day. while certain brokers who sold
too hastily yesterday on receiving increased
margins from customers bought back stocks
sold. There was a dribbling OF standard stocks
that their owners might protect highly specu-
lative ventures. The impairment Of some large
speculative holdings owing to the markets
action yesterday induced tightening Of loans
on Il rise to-day. Nenturesome traders with
only moderate margins paid the penalty of
over-SpeculatUn this week and their paper
profits were quickly wiped ont well the
principal invested. The market after being
hoists1 early in the week, apparently with the
idea OF NQuldatln5 the stocks held Dy large IN
terests, became COP heavy and sagged viU-
lently toward the end Of the week. with d par
tial recovery. ieavInE losses in the entire list
except few unlmportant lruperties The
losses in the standard railways averaged some
thing below points. while IN the specialties
the losses We're in all cases considerable. the
larges. declines being Metropolitan lOl- Brook
lyn Transit lJts Federal Steel and Consolidated
Gas over J. each. Sugar ll]2. = rbrake 10. Man
hat 81. Third Avenue >.
Stocks OF this class swept a wide
radius Those which fuctuated most wide
" included Metropolitan, which one time
was some 20 points below the highest Brook
lyn Transit, about so; sugar, IN; Manhattan,
23 hind Avenue 20 Federal Steel and Peo-
pies Gas and International Paper well Up in
the teens. The greater part OF these violent
2 q Dr
Friday when the industrial panic quickly
swept out the marginal nJIuins. %. sfc,i..a-
tors all over the country While the strin-
gency in the money market was the prin-
cipal cause OF uueasiness, the discrimination
against industrials when its fun scope be
came understood was the immediate cause of
the shaking of confidence. 4 number of COM
mission houses decided to insist purchases
OF industrial stocks being either made out
right or that margins be increased largely
even 80 per cent being eNacted Thus many
specialties held through the rise had to be
and uniaNoIanie aGNices. the developments
were generally favorable. Most OF the
week railway earnings were good and
there was an Increase for the week
o; over 90 Per cent in the clearings of
all the banks. partly attributable to the ex-
traOrdinary way Of speculation The dealings
for the week were not far from 6 COO 900 shares
The bond market followed the variations in
stocks rather closely this week but net losses
were not as rule important. United States
new iours coupon advanced Is; do registered
the hYes and the old foUrs coupon a and do
registered half in the bid price.
Total sales OF stocks to-day were 3s3 300
shares. including: Atchison preferred IA gOO:
Burlington. BIO; Manhattan, 27S70; Metro
pOlitan, SS25; Missouri Pacific. l4;lO9: Northern
Pacihc $50 Rock island. 53l7; Union Pacific
6110. do preferred, OSSI: St Paul Il 235: Ameri-
can Steel and Wire is SGS: Federal Steel % O06.
do preferred, 19,400; Peoples Gas SlS5: Brook
lyn Transit. alps; Continental tobacco 7lG5
Sugar 1880; Tennessee Coal and Iron. $3.50:
Leather preferred 1850; Rubber 35lO: St Louis
and Southwestern preferred, 1850; Chicago
Great Western, $500