The San Francisco call., 1905-04-18
New York stock MarIcet.

NEW YORK April I7.-There was ,.nnsfd-
efaoie unsettement manifested in the stock
market to-day. which was partly due to the
talfSlhs over OF g bad impression from Sat
urday account Of the rather urgent r,res
sure 70 take profits on the weeks rise Thfs
impression was partly cissipated by the blox-
ant opening this morning but the hfeh r,rices
made then invited renewed selling and served
70 discourage the confidence OF operators for
hleher prices The market for the rest of
me cay was spotty and irregular. The selling
on the opening rise was OF such volume and
character as was not 10 be ignored. Il was
generally supposed TO be due In part to the
necessity OF protective measures IN connection
with the wheat speculation Various pub
.icatons pointing TO the hazardous position Of
those committed 10 the wheat deal made
opinion sensitive on this point In the wheat
market itself the weather news helped to sus-
tain prices and to that extent relieved an
prehension over the immediate situation Of the
yield But on the other hand the possibility
or damage TO the crop by the unreasonable
weather Is disadvantage to values OF stocks
and had its part In cooling the demand The
Wlntry weather carried its threat OF damage
% other crops as well and was one of the
appreclsble factors IN to-days stock ma rket.
Another was the assembling OF the Senate
committee 70 investigate the problem Of rail-
road rate legislation. This topic had fallen
into the background during the recent enthu-
siasm IN the stock speculation. The reports
~ the committees intention served 70 bring
* into consideration again with its ultimate
possibilities when Congress assemblies. Railroad
officials continue 70 talk IN very confident
lnterNleHs were or more restrained tone
than Tor some time past While these minor
CONSIDERATIONS played their part the market
continued 70 give the principal attention to
the question of the Northern Securities dis
tribution and the readjustment growing out
q II. While the mandate of the Supreme
Court issued was expected there was still
the absolute lack OF official announcement or
confirmation FOR any OF the many stories OF
deals supposed TO be awaiting this event.
The situation proved strain 70 speculative
confidence. especially in view Of the highly
concentrated character Of much Of the selling
o. Union Pacific and the fears aroused 70
what II might imply. This stock and Northern
Securities on the curb reacted with some
violence after the opening and carried depres-
sion into the other stocks which have moved
II sympathy with them The exceptional
strength shown by 81. Paul ala not serve
altogether 70 Offset this influence. Neither
did the sustained advance in Atlantic Coast
line which was only moderete IN its effect
even in its own group. The renewed strength
in the United States Steel stocks was Of
much influence and seemed to be due TO salts
faction with the proceedings at the annual
meeting Of the corporation The preferred
rose easily TO a new record level. Money
hers was distinctly easier but sterling ex-
change was steady. The closing tone Of the
market was heavy and uncertain. It had
been for most OF the day.
Bonds were irregular. Total sales. par
value. 81. $50 900.
tinted states Be and q CreTuisr9 declined
u srd the 2s (coupon) u per cent on call.
New York Stock List.
= = Hutton & Co.. 40 California street,
Eer Francisco. members OF the New York
f-oclr F2cnange, furnish the following official
Quotations 81 that Exchange