The San Francisco call., 1904-09-13
NezO York Stock Market.

NEW YORK. Sept. IA decisive impress
son was Iuade on prices OF Stocks to-oas l LoI
the first time in many days by the Increasing
burden OF sales 20 take prohts, tempted by the
misgiylngs over the crop ana money oeuooks-
ye- the dominant Impression created by the
action II the early market was It's continued
evidence o. underlying strength sno lts gIsss
which changed hands ran UP 10 three-qusrters
Of a million IN the TWO hours 70 noon, ana IN
thai time the market had made sturdy Talles
sga-t-s- l-s liL-a-e uI'-i- .--s ., -, e-@e
put forth sustaining points OF strength IN sPe-
cal stocks ll the way which mad become "a
millar curing the long adKance- AS the Gay
wore On The sustaining points became Fewer
ano also less el-ec-lhe 20 the selillilellt @ nsla
toward tne market at lafse- hSthol Nas EStS 5t
busy about the board room with The identlty
q ths lig sellers and fears gained eroeno ma -
the sktiltll speculative leaders nad soIo out 70
: large extent. SO IhaL their trained tactics for
the conduct of the trading might not be relied
Urln any lorEer 10 protect the market ana
stimulate its advance. such a reaction is nor
al after an extensive rise ana II mas been
watched Tor ly Professional traders for many
concessions and The volume Of buying orders
Slightly below the existing price kept the early
trading TO-DAY feVerish and uncertain ana
showed the doubts u the bears that the time
TT re1lti M had come The consideration OF
tile Government crOD report. coupled with the
weather reports in the grain belt decided the
course o. prices downward The threatened
shortage Of wheat has failed TO stimulate any
foreign demand Tor our corn uD 10 this time
The value ~ exports Of bresdstufts for
pared Wi;h si5o25.7I5 in August Of last
year. Reports of frOsts last night also gave
adrices were received from the corn belt fears
are felt for a sudden damage 70 that crop and
the uncertainty over it tends 70 keep business
dull IN the West. In the weekly canvass Of the
4raffo situation by railroad officials is easily
discernibls a note OF dissatisfaction with the
rate ~ increase for the movement OF mer-.
chandise westward which IS attributed 20
corn uncertainties The grain movement how
ever, continues large The rate of depletion
of the New York banking surplus has eerved
70 sdnonish speculative borrowers OF the other
requirements 70 be met With q two weeks
loan expansion n So. .z29 900 and a cash with
drswsI q Sl5, ,155. .15O. an inroao upon the sur
plus Tor that time OF Sls.937, 80 has resulted
and the loan rates are hardening IN conse-
cuence Great confidence is expressed that the
fall requirements VIII be met without causing
striuEency New York. But the present
course Of the money market was an influence
on tO-day'E reaction IN stocks
d The market closed active and weak. with
net losses running from I 70 points and up
ward IN some cases
Bonds weakened in sympathy with stocks.
Total sales s. 5S5 Goo
United States - registered and As coupon
declined 1k and the 2e coupon 4 per cent.
NEW YORK STOCK LIST
r =. Hutton a. Co. 400 California street.
San Francisco members OF the New York
stock Exchange. furnish the following official
quotations OF that Exchange.