The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1903-09-19
EASTERN MARKETS.
Ne1U York Stock Market.

sew YORK. Sept 1s.--With material de
crease Of operations t0-day's stock market
c1utlnued its irregular and downward course
the weakness. however being confined almost
exclusively 10 the Industrial group. which SUI
Tered heavy recessiOns. Aside from the per
sistent reports Of depressed trade conditions
IQuidatlcn OF these issues. especially United
states steel common. which sold down 10 the
lowest point get recorded and without
htpporL ~ us weakest point The heaviness
~ this stock was reelected IN the losses sus-
tanned by Tennessee Coal, Republic Steel
American Car and Foundry. Pressed Steel Car
sloss-Shefneld Steel and American Locomotive
ouf re dav ard were VIGOROUSLY ,s,,trIeS a.
Crucibie steel preferred. which sold down over
~ points from the last recorded sale over q
year ago. OutWardly there were no indica-
lions that the New York market was at all
affected by the split IN the British Cabinet.
american securities were simply neglected.
The general list held wei during the first
hour GA the continuance Of buying cf certain
railway shares. presumably for Western ac-
count There was also some DISPOSITION on
because Of a more hopeful view regarding the
crop situation Anlalgarnated Copper advanced
on buying orders which were said come
from Boston, and the early rise in Sugar
was believed 70 have resulted from the ruling
of the Treasury Department regarding duties
on bounty-pald sugar imports. Later these
stocks went down In the general decline.
Arbitrage houses bought moderately OF Erie
for London. which was probably seller on
balance. The market continued irregular and
became decidedly heavy in the last hour, when
steel common touched its low point with re-
sultant weakness 70 other issues. including
the fractions and some railway shares. The
closing was listless and weak Although
Western demand Tor money has not been
very active in the last few days indications
point % a heavier drain the local cash in
the currency movement than was anticipated,
- known movement for the week showing
3 loss Of more than 81. SOC, 900. Time money
hardened slightly on further demand 10
meet year-end loans There another ad-
vance IN foreign exchange with active
demand for sixty-day bills Gross increases
for the closing week Of the month were shown
by p number Of railroads. including Wabash.
Canadian Pacific Norfolk and Western. Mis-
souri, Kansas and Texas and Denver and Rio
Crande.
The Industrial stocks which had been heavy
au CAV broke violently in the last hour
under the lead Of the steel group. which in
ciuded United States Steel American Car and
Foundry. Pressed Steel Car, Tennessee Coal
and Iron Republic Steel and American Smelt-
ing and Refining. United States Steel COM
mon broke 10 Is in the last half hour as COM
pared with Istz. the previous low record
price steel bonds declined about one point.
American Car and Foundry common declined
over points 10 below p, ana the preferred
~ 70 sou. Tennessee Coal declined 10 81.
compared with 33k the previous low record
% the year. while Pressed Steel Car common
stock and American Smelling were extremely
weak.
The bond market was quiet and irregular
and without any changes OF Importance. Total
sales. S.400,ooo.