The San Francisco call., 1901-10-30
EASTERN MARKETS.
NeaU York Stock Market.

NEW YORK, Oct. 29.-The professed anxiety
felt by the professional operators in stocks
yesterday seemed to be considerably relieved
to-day. Their professional brethren of bullish
tendency added the incentive of lively bidding
up here and there As a consequence a
siderable demand to cover short contracts made
the market strong during the early part of the
day. 1t was argued that with the easier tone
as to gold requirements by the authorities of
the Bank Of France the probability of an
outgo OF gold on Thursday of this week was
considerably lessened. The announcement just
before the close of the market of an engage
ment of $500, 600 in gold for shipment on Thurs
day precipitated sharp realizing movement
and wiped out a good part of the earlier ad-
yances. Another 81, ,00o. 900 engagement was an
nounced after the close 1t was very notable
that the stocks that were weakest Yesterday
were foremost as a rule in the recovery to-
day. The recovery did not reach to the full
extent of yesterdays losses at any time. The
upward reaction was achieved also on a con-
siderably smaller volume of business. There
was an expectation among the small specula-
tors this morning that formal announcement
might be made during the day of an adjust
ment of the Northern Pacific difficulty. This
expectation was again disappointed. Compe-
tent observers Of the situation believed that
this may be daily incident for some time to
come, consultations this subject are con-
stantly held but with much remaining to be
agreed upon. Among the days special move
revived the rumors Of coming developments in
the Vanderbilt group and was reflected in
sharp advances in other members of the group.
d.
vance of several points over the preceding sale
in last March. To-day 1t sold in 100-share lots
successfully at 11S, 12O 125, 135 and 40, after
which it relapsed to $780, No explanation was
forthcoming of the movement. Amalgamated
Copper influenced by the supposition that
developments pending which will benefit
the conditions of the trade. There was some
support also for the United States Steel stocks
accompanied by reports of great activity in
that industry. Brokers credited with acting
for insiders both in United States Steel and
Amalgamated Copper bought their respective
stocks together to-day. These interests have
been supposed to hold divergent views of the
speculative outlook for some time. The buy
count was very large. as it was of other stocks
This is supposed to be rebuying of stocks sold
yesterday from that source In consonance
with the upward movement of prices the prev
alent view of the money outlook was less pes
simistic although conditions in that market
remain the same A number of favorable con-
ditions which were ignored yesterday in the
selling movement came in for consideration
especially the continued trade activity as re-
f1ected in the large bank clearings throughout
the country and the sustained increase in rail-
road earnings. Reports to-day of September
! net earnings showed increases over September
of last year for some of the important systems
as follows: Atchison, $423 $50; Reading sys-
tenn. sS0,s53: Northern Pacific, $685. 227; Erie,
$32 227, and Chesapeake and Ohio s31, 775 Anal
gamated Copper was the only stock to recover
all of yesterdays decline The closing was dull
and heavy at the reaction.
Railroad bonds moved narrowly and ir-
regular. Total sales S1.S77, 900.
United States new rs declined u per cent on
the last call.