The San Francisco call., 1905-05-11
New YORK Stock Market.

NEW YORK. Nay IO.-Pr1ces reversed the
uovsment OF yesterday and sagged in a heavy
market The only sgnihcance which can be
sStache0 10 the movement was the almost
total shstenfion from the dealings OF any resi
FOLDERS q stocks or any RAJ seekers for stocks.
ne inability ot-the room traders 10 get prices
Tar away ron 2 given level IS the unfailing
tign OF the QuieScence Of all substantial inter
ests IN the market whose operations form the
basls Tor the only successful campaign BIZ
ne purely professional element Liquidation
seems 10 oe completed and the supply Of
stocks in ths market is exceedingly small II
Is easy, therefore, when the trading element
taxes the long SIDE 70 get prices up far
that element dares 70 carry the movement On
the ether hand any effort TO market stocks
even O1 e nlesger amount. finds practically no
demand and prices consequently run OF easily
Thus results the wsverirg, uncertain tors
from Gay 70 day which now DISTINGUISHES tn >
market Aside from the technical EVIDENCES az
the purely professional character OF the trad
ing, the shrinking II the volume Of dealings is
shown IN stocks On the Friday before Iast
Christmas there WIS total OF only 2eo 0O3
shares dealt II on the Stock Exchange owing
q ne three holidays 70 follow and the
sonsbie absences from Wall street With that
exception II is necessary TO 70 back to Ii
period OF summer duIlness IN last August t1
Ind parallel for tO-day's small business IN
stocks The Initiative came from London
again where the outcorne OF the settlement 4
awaited with some renewed apprehsns;o,
which was shown By the renewal OF iigha
Liquidation there Of American securities In the
current discussion about the Stock Exchange
most stress was laid on the revived discussion
BY the President and Secretary of War Of the
rH1-roac rate regulation measures, indicating
the unchanged Importance attached 70 this
question by the administration An impress
sion had been built up among Stock Exchange
operators thai tbs course OF the hearing on
this subject By the committee OF the United
States Senate had served 10 lessen the proba-
bility OF It's beng pushed as an issue with the
eggressivenesz indicated st one time The
tone of public addresses by the President and
q leading member Of his admin strat ton served
% shake the ASSURANCE felt on this point
Money extremely easy, but sterling ex-
change was strong and the question was again
csnvsssed whether the small demand In the
90 OF Eold Paris has relaxed its demand for
that metal however, and arrivals In London
are going into the Bank OF Engiand The
special. show. Of strength IN smeItfnx was due
20 the report Of the financial results accom-
plished IN connection with the organization Of
its new subsidiary company. A few other
metal stocks showed sympathy Reading was
helped BY the reports from the anthracite
trade
There some reoover1ea from ne exfrezus
decline which wers not wide IN tAemselves,
but the 6ostng was easy
Bonds wers Irregular. Total Szlea, par
value. q ,sTb, 900. United States bonds were
ali unchanged call
New York Stock List
Il y. Hutton 4 Co. $50 California street
eGn Francisco members OF the New York
Stock Dxohange furnish the following official
quotations OF that Exchange: