The San Francisco call., 1904-10-13
New YORK stock Market.

NEW YORK. Oct 12-To-day's stock
us-le was variable and uneven. but its snow
me % 1lslsF-lFe power was convincing. Th-re
was "a general selling movement 10 take profits
sl--r TIE ngLer opening, has become Gus
i--l-g ~ s-ttlGl Gays past A period OF
t-l=- inter- enea before the buying movement
was resumed THIS buying was Of very con
eeatrsted character. which kept alive the sus-
t---- nat x -el-le -aIseiy rom speculative
pools or combinations OF operators formed for
tne purpose ot plr-ing up prizes and distr1b-
utins sts-Es Purchases for the day Of
nigh aloCO shares of selected stocks were
attributed 20 special news affecting the stocks
demand. Some OF Il was apparently due
rn .-r-serra fr ne syar-z~a11, r---s,s-,4-s ,r7r
look tor business There were various proni-
nelt stocks which were held back rhroIiehout
by the continuous realizing going on in them
and the recent strong advances IN them We're
the obvious motives for the desire 20 take
profits. Conspicuous In this list were St. Paul.
Reading. Erie. Southern Pacific, United States
steel preferred and Amalsamated Copper.
reactionary. were Iaggard in the rise The
stocks which advanced strongly were them
backs=ts, and the market closed with such
movement m full force, but such
varying movements are found in broad
and active speculative movements, and
cid not impair the impression Of the under
lying strength Of to-day market The leader
OF the advance was Union Pacifc Stress was
LAID uuon the fact that one OF the new Union
Eacinc directors is also q director OF the Chi
cse0 and NorrhWesuern- as are several OF the
older directors This was pointed TO as indi-
eating progress IN the supposed plan for har-
monizing the Western railroad situation. The
Industry led 20 gossip Of the possibility Of a
transfer OF has Investments from that Industry
10 railroad property being in progress Union
Pacific and other gralgers were benefited by
the further considerations OF the large corn
crop promised. Western buying orders were
said 20 be a large scale The corn ana cot
ton prospects combined 70 sap the Southwest
erls Reports OF more liberal outlays by rail-
road companies were held 70 account for the
rise in railroad equipment stocks. which
quite comprehensive. The declaration OF only
tn regular dividend on Central Of New Jer-
EeE exploded one OF the rumOrs that has been
used ~ advance Reading The interest.
chang and money markets were further af-
feCted b. the rise IN discount rates of the
Imperial Bank Of Germany, and surnises were
stlu rile cf possible further war loans i'm
pending for both Russia and Japan The
Suh-Tressury paid out to-day $3.50. 600 on
account OF Australian gold deposited IN San
Francisco Call loans were again offered down
to below , per cent The selling take profits
IN the final hour materially reduced the level
TO which prices had attained and made the
closing easy
Bonds were firm. Total sales par value,
s. 0SO.0o0. United States bonds were un-
changed on call.
NEW YORK STOCK LIST
<. F. Hutton d. Co. 490 California street
san Francisco. members Of the New York
stock Exchange. furnish the following official
quotations OF that Exchange.