The San Francisco call., 1905-08-11
New York stock Market.

1-EW YORK aug 10-0perators II stocks
b. re deal to-day VlJh news OF far-reaching
ar radical e7rseqronces 70 values The re-
u--- Ct the Agricultural Department on the
August condition ~ the grain crop and the
r-=sertarI0u C- terms 81 peace by the japanese
-le RUss-sEs might either one De thus
c=-ensfec- The dscl-.ation q prices OF stocks
sehrly wider than had been the daily
The immediate past, bur there
scarcely Fny change ia the hesitation and IN
-- ,----t4 -- ls -i1' 'ii.eilL. Larry ~ tn~ cay
s--er au opening resistance tC the selling
vch was ia evidence late yesterday, there
vas pronounced pressure upon the market
Prices gave way lu--e generally 70 below last
nights level This was varlously interpreted
e. movement 70 take speculative profits in
Srrlctua-laa OF favorable Government crop
report. and as e raid upon the market, for
rre rlIrrlze OF securing stocks IT lower rrfces
y latcVer the purpose 0t The movement Il was
- ,r-er--is-7ve sources Th4 cba-sete~ - r.
. support encountered on the downward course
OF prices proved more Impressive 10 sentiment
thsn the selling irseH and a brisk recovery
fizht q prices IN many OF the high-grade
railroad stocks TO dizzy heights which made
came The feature ot the market and was 50 ex-
rreragaut in its demand as Il awaken unea ST.
ness and thus develop q heavy tone for the
general list Inc nsures o1 the Government
report. while proving fully as good sntici-
pa-ed proved 70 have. been 50 wei discounted
e &c have little eject on stocks The i'm
rorrauce q the conditions Indicated are not
T. be uuderes-IrLsted Cr that account A corn
dE0p wei Do excess o. the greatest previous
rg-I rhe combined winter and spring wheat
crcr gives promise q q yield only Few mil
hon bushels below the bumper crop OF 1901.
iu which year however. there was a notable
shortage ln the corn crop The news from
prrterCurl was Jess re1ssurins because less
definite. The ura-tcu q definite proposals
FROM the japanese was regarded as Offering 2
isis Ia rlll negCriations. but ignorance Of
~ terms aaa The uncertainty q the receipt
~ .tw something ~ chill over speculation
ou account ~ the vast importance OF the is
,gae involved. As FOR the astounding move
r--ht in -iIt-elged railroad stocks. II IL
as pun Icrte- fc De- u would clearly indicate
s--h r. congestion Ct Capital-seeking invest
--.s-r a- might De expected TO be followed by
r.-.arrs overflow into other channels IS the
- ..-- dt abe l.eAlg pr.zel stocks rise beyond
rs reach Eol The suspicion was plainly felt
.rrrt while rhr movement was intended 10 con-
p cue 20 uachinations Fl ths market Of those
-rrfuu rr profit tr1m the present situation.
we lpNard course ~ Delaware, Lacks wanna
and western Tor some time past had the ef-
other hiFh-prlctr railroad stocks and thus
r-.fiftatcf to-loys outburst. A further ad-
-.nee in tlle price of copper and reports Of
lauag- ~ foreign crops were items Of in
t..resr il t1f news. but were not much re-
La -E-F The r-orer1er- 81 rle later market
rorv-yed on impression II some 5eH1ldernent
.- -rr part o. operators. but the brisk up
Nd -lcEerneDr st rhe last led by 81. Paul
raafe she closing strong and decided the pre-
5---f -frsnce % gains over losses
T-ritel States new IS advanced Il per cent
on caI.
New York stock Market.
j. Hutton & Co.. $50 California street,
So Frsuclsco members Of the New York
Er0cI- Exchange. furnish the following official
quotations Of nat ENchange: