The San Francisco call., 1904-12-15
New York Stock Market.

NEW YORK Dec l4-Another step was
taken toward the establishment Of normal
stock market to-day after the paroxismaI state
~ the dealings. The effect yesterday Of the
support which was forthooDing 10 protect the
market from e further disastrous fall led to a
Lstless movement 20 cover shorts on the part OF
q retreating bear party. There was traceable
some resun,puon Of operations on the long side
as vel, and a renewal Of efforts TO push prices
up rapidly 10 close the gaps in prices caused
hy the fall But II developed in the course Of
the DAY that conditions were not favorable 10
this rapid return 10 the speculative mood ex-
istinE before the break in the market The de-
nand rapidly rhinned out At the higher level
and there was some pressure TO sell al the re-
covered prices Toward the end Of the day
the market sunk into a dull and lstless stare
not far from last nights close. There was
nothing IN the circumstances Of the day 70
account either for the morning advance or
me afternoon reaction further than the natural
tendency OF the market 70 read1ust itself by
series of lessenng fluctuations after such q
connection as that TO which II had been sub
The Advance in ANA lganated Copper was a
material aid 10 the general recovery and its
Welding was the signal for the abandonment
~ operations for the rise The attempt TO
move prices upward centered congpicuously IN
The ccalers. and this group had the special ad-
vantage of the active demand for coal stirnu-
latee ty the wintry weather. Advances in
number of stocks in the group extended 70
RI 21z points Atchison was the most con-
fpeuols weak SPOT IN the market During the
period of strength IL the general market IL
merely laggard but with the reaction IL
ylelce1 sharply. The decision 10 issue $50
o0o,O00 of convertible bonds 70 provide capital
FOR extensions and absorptions was the evident
cause of the disfavor with which the stock
was viewed in the days speculation. It's drop
20 points below last night IN the late mar
vet perhaps helped 20 drag down the rest OF
the list The addition Of 81. 500. 900 in gold
coin 10 the engagements Of ali the available
Folo bars Tor export had an unfavorable senti-
mental effect The further rise in the eX-
change rate made the gold outgo more easily
e2piicable but the fact that the shipment is to
ne made On a slow freight steaHer without re-
gard to the added interest charge for the
longer transit keeps the movement in anom-
alous situation
The money market was not affected in any
oeEree ann. in fact. zensibly easier both
~ cai End time loans San Francisco con-
Tor cash IN addition 70 the gold exports The
reaction became pronounced ia the late market
and iast prices were generally lower than last
Iient especially IN the Pacihcs. grangers and
lnited States Steel. The closing Was weak
Bonds were irregular Total sales. par
value. 50 go 000
United States bonds unchanged on call.
New York Stock List.
f. ?. Hutton & Co.. $40 California street.
Stock Exchange. furnish the following ofdcfai
quotations ~ that Exchange:
Sales STOCKS. iHighLow Bid. Ask.
..-----i Adams Express .f.....f.. '2ss go
~ 800 Arnaig Copper D.. 6c-k c3 G3 G3ik
.----.-I Amer Can CO .-.f..--.f .f.....i I0lki fOL
30o'hmer A. r Co 31it 30a a0isl 30sl
200 Amer cotton OH 3e 5sf ssk ga.
soo. Amer DIS Tel. 80 - ss ~
...-..l Amer Fxuress... ..... l.... 2Oe '2Io
eno Amer q 7 Col 12lI f1&i lIsLl 12
300 Amer Hide g. L lost iOiki 1Oik IosS
$500 DO nd $500. ~ 427k s3 4sH
800 Amer Ice $500. So 7sk
500 Do nd -.----i 30 3ssk 3s1s 81
..---- Amer Linseed .i-.-..f.....f I5L ~
.---.--i 10 pfd -..--- i.--.. ..-.. 81 Al