The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1904-09-30
NezO York Stock Market.

NEW YORK. Sept. 29.-The stock market
vas subjected again to-day 70 very heavy
realizing and prices are lower as a eonse-
Quence, but u must stil be said that the re-
aiizing was wen taken and the fall in prices
was by no means precipitate- The movement
was not accounted for by any news develop
ments either 20 induce selling or 20 cause ad-
Vances IN the few stocks that showed strength.
The strong stocks were believed to be supported
70 help the realizing in the general market
The operations were alleged 70 be almost Who'll
ly in the hands Of professionals or Of that
class % wealthy spectators who make &C
casionsl campaigns IN securities with the use
O. professional methods. The coalers furnished
me principal support Tor the market although
the august earnings Or the anthracite carriers
proved very untayorable. compared with the
showing o. some other railroads. This was a
fair example of the disregard Of news which
characterized the movement In spite OF ma
terial retrenchment in the expense account
for both the railroad and coal companies
Readings net earnings for August fell SECS 800
below those FOR August u last year and those
Cf Erie decres se6 $50 .266. Ontario and West
err had effected sufficient economies so as to
increase It's august net earnings small mar
gin Yesterday this stock was the exception 70
show weakness in the group. Il was hurt by
further consideration OF the plainly which the
dividend Is made conditional on a So 600 600
bond Issue. Reading. on the other hand was
The rnafnstay OF the market, and was bid IN
caused by the prOht-taking- The high priced
coslers were conspicuous. Lackawanna selling
Up 20 500 on bidding for 0O-share lots. Stocks
which have been the leaders OF the recent ad-
vance were freely sold to-day. This
especially true OF United states Steel
preferred The advance in this stock has aroused
ekepticism owing 10 the lack q news 70 &C
count Tor it, and when II was perceived that
recent buyers were realizing to-day, the pres
sure 70 sell bore heavily upon # The sharp
reaction In Northern Securities on the curb was
the signal Tor a decline in Union Pacific and
attracted suspicion Of manipulative source
for the numerous rumOrs in circulation OF
late q q couDr0rnise IN the Northern Secu-
rites case. The grangers and Pacifcs SYM
pathized with the heaviness OF Union Pacific
and even ST. Paul. which was lifted a point
lost Il again. Weakness in some Of the Van
derbilts On view Of session OF the New York
Central directors caused a bad impression.
Prices touched the Tow level IN the final hour
and made an irregular rally The weather
map Indicated safety for the crops and money
was unchsrged, ia spite Of the withdrawal OF
over S5.g00.OOo by the sub-treasury thus FAR
this week. Sterling exchange broke to the
lowest Of the season and foreign markets re-
ported prospects o. easier money conditions
Bonds were easy. Total sales par value
t4.S3O.o0o United States bonds were IN
changed on call
NEW YORK STOCK LIST
= r. Hutton e. Co.. $50 California stree.
san Francisco. members Of the New yorl.
stock Exchange. furnish the following ofScfsI
quotations of that Exchange.