The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1904-08-25
Nee York Stock Market.

NEW YORK Aug 24-In the face Ct condi-
t.ons which ordinarily make Tor lower prices
Euch increased excitement in the commodity
msrket further strain in the local labor
trouble and selling ~ London O. the interna-
rional political situation, t0-day's stock market
showed gersere4 tendency toward higher
prices Trading was dun and narrow. how
evr. and oagaisi largely Professional At the
outset the tone was decidedly bearish. TIE
sneculs-ivs element was apparently OF the
opinion that further reaction ives due. bas-
TX rhisCbeIief on the freedom with which
cocks Vre offered for loan al the close Of the
PREVIOUS day. CniOn Pacific and Southern Pa
cffc we're lmong the early features by reason
~ their strength, but their rise failed 20 slim
u-ate Eny ,lr1Ilefiate respyiise- eian ne market
hung backs The Gould and Southwestern group
~ railway issues. became conspicuous under
ere lea 1erEhip Of MiEsourl Eaclnc ana kansas
and Teas preferred, and this movement was
folioRSed b. general advance n many of the
Industrial and miscellaneous Issues. Anal
Fauzted Copper. Smelling. Sugar. Consolidated
Gas and Brooklyn Rapid Transit al moved Up.
but the improved tone. while vel maiutainel.
failed 20 bring any real demand The strength
o. tbz Gould stocks vas accompanied by re
ports o. prospective huge earnings accrued
i've quarters there vas disposition 70 look
upoa the movement as one Of q pool character.
Practically the same reason was advanced
n es4ianstion of the rise IN Copper. though
- was not denied that trade conditions show
Fon1ss Improvement. Rumor credited the local
pSfticai element with an important part IN
The rise IN Consolidated Gas and Brooklyn
Transit The READINGS we're taken by houses
With Philadelphia connections and Southern
7--r-rsv VS. sf~onr and active thcuzA there
seemed little Justification FOR the report that
recent heavy buying vas Tor inside account.
In the ate session business became more dull
end restricted. and while traders seemed less
inclined 70 take a builish view, II was clear
that little long stock had come into the mar
lret me specizlties were taken up in the last
hour and there vas an Increased demand for
-he coalers chiefly Reading and Jersey Cen
trail Funore ~ plan 70 distribute a cash
slrrderd 20 hoi ters q Northern Securities were
crl-reat in exchange circles Just before the
close o. the market but they lacked official
conffsnation and after the Close o. the day
sn sEthcrifstigc dental wac entered There
we're s1sle interesting Developments IN the
money situation theee including q transfer OF
$500 600 crop money 70 Chiczgo-tke first OF
ties yeaF-and $3.50. 900 TO Canada These ship
rnents. 81 = Understood. VIII be followed By
ever large transfers 20 the West and 70
Canada tomorrow and BY further exports 70
cubs Conditions indicate that for weeks 70
come the local banks VIII lose cash 20 the sub
freassary and 70 TIE interior Il r. pointed out
hopeTcr that tAs unueually heavy reserves
rev held By these Institutions preclude the
Probability u any material hardening Of money
rates Ia tact. the cash holdings 81 the banks
isszs taat they could afford TO lose as
much 20 the interior az last year and stfIi
have larger surplus than they had ct the
tooeDtions Of that years crop riovenenL To