The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1904-09-28
Ne7U York Stock Market.

NEW YORK. Sept. 27.-Another day Of
broad ana active demand for stocks was ex-
perlenced at the Stock Exchange, lifting still
further the average level of prices. The move
ment showed some variety and irregularity
the upward movement being decidedly uneven
Sllo literspersed with occasional small reactions.
The selling was OF character which made its
impression on sentiment and was called
gOoor which IN Stock Exchange parlance
means that il appears to come from sources
presumably well informed either on the inside
news regarding properties, on the plans OF cam
palgn Of large speculative operators or for some
similar reason qualified TO judge wisely of
outlook for values in the market. But this
selling, however well informed and impress
slve, was well absorbed, and was not allowed
seriously 70 affect the tendency OF prices.
Union Pacific and United States Steel preferred
Were cOnsplcuously strong and active and two
stocks 50 representative Of general conditions
and dependent upon widespread interests
necessarily had a large influence in determin-
ing the general tone Of the market by the SYM
pathy their strength exerted Advocates of
higher prices also enioyed another dav of
almost complete immunity Of disturbing fac
tors in the days news Weather was favor
able for ripening the fast-maturing crops and
contained much 10 reassure the apprehensive
over both the corn and cotton crops. The
President Hill OF the Great Northern and
Northern Securities seemed to be ignored and
a sharp advance in Northern Securities on
the curb on buying said to be for London ac-
The buying OF United States Steel preferred
was accompanied by the publication OF esti-
the current quarter, showing a sufficient mar
gin 10 provide for the preferred stock. These
estimates were without any official or desg-
mated authority There were some rather
conspicuous exceptions TO the general ad-
vancing tendency. made the more by the
notable strength which has characterized them
lately. Atchison was marked example, its
movement being narrow throughout. The
stated need for additional capital in the an
nual report came in for much discussion. The
August statement of net earnings was disap-
pointing. On the other hand the August
statement OF the Chesapeake and Ohio the
Central Of Georgia and the st. Louis-South-
western were considered highly satisfactory
and the less satisfactory showing by the Cen
tral OF New Jersey did not depress that stock
The railroads continued to report increased
gross earnings for the third week in Septem-
Der. Rumors of strong forthcoming state
ment Of August net earnings by the Pennsyl-
vania also figured in the days market Cot
mon dividend would be passed. There were
reactions running TO a point in some of the
leaders before the day ended. and the closing
was heavy. Sterling exchange advanced, al
London and cotton bills quite plentiful in
the exchange market. London also bought
stocks freely balance here to-day. Money
distinctly easier in the market, in spite of
the continued heavy outflow to the country The
strength Of sterling is believed to be due to
day loans against which exchange bills
sold at the time they were made.
Bonds were firm. Total sales, par value,
s.. 355. coo
United States 3s advanced u and the new
As declined i per cent on call
NEW YORK STOCK LIST.
z. F. Hutton Co. 400 California street,
San Francisco, members Of the New York
Stock Exchange, furnish the following official
quotations OF that Exchange: