The San Francisco call., 1905-03-11
No. York Stock Market.

NEW YORK March l0.-The breadth as
wen as me VIM n 1os oS1Tade and
obscure stocks were numbered among the
gamers the standard dividend-paying railroad
and gave tone 70 the whole market The
trunk lines and Pscifics particularly came
into prominence ana great activity The abb
surption OF Pennsylvania was on very large
scale. So widespread was the advancing
tendency that the heavy spots are more easily
noted as the exception 70 the rule some OF
these were affected by realizing. following
advances yesterday. which was especially the
case with Reading. Others were held by a
toru-or which they have been unable to throw
of spite OF the active advances elsewhere.
The United States Steel stocks are conspicuous
exarnples The buying was somewhat inter
mittent and shifted constantly from one point
u another Of the market. Individual com
mission houses executed q large proportion OF
the orders IN special stocks. Such operations
gave the market a highly professional appear
ance and suggest the activity OF pools ana
combinations embarked IN speculative cam
paign- The market was comparatively free,
however, from rurnors concerning special
stocks. such as are usually used Dy speculative
pools 10 help on the advance IN their favor
ties. In few cases there were reports OF
special application, such as that the preferred
stock Of Hooking Valley was TO be retired and
that AmalgaUated Copper was 10 begin the
issuance OF periodical reports OF earnings and
The extraordinary ease Of money is given
most importance in the general field. but IS
effectively supplemented by the reports oe
the prosperous conditions In trade and in
custry. Yesterdays reduction in the official
of discount BY the Bank OF England con-
tDGed 10 exercise an influence in keeping up
confidence in the money market The fore
casts OF the currency movement for the past
week indicate another shift in the interior
movement IN favor Of this center, promising
& moderate addition the cash item in to-
naorrOw's bank statement in spite OF the alb
sorption sUb-treasury operations The
figures OF the production Of gold the Rand
for February called renewed attention to the
steady expansion in the rate Of gold produc
tion TO which the other great gold fields are
also contributing their share. This is a sub
3ect that received attention from time to time
end possible factor in the great rise in
prices 0f securities The present heavy
cumulstious OF money reserves in the worlds
great centers give point 70 the discussion But
NJ TO the present time there has been no evil
dence OF the discrimination against fixed in
terest- bearing securities on the part Of cap
ftal. which Is a natural accompaniment Of
fall IN the value OF the money medium.
Peace prospects continue 10 form element
in the strength Of markets The buying of
Cl.esap peake and Ohio became much excited
in the late dealings on the rise to record
level OF 5s. This served 10 check the irregular
tendency which had developed on account OF
selling TO realize and made the closing firm
Bonds were irregular. Total sales. par value,
s. so OoO
United States bonds were ali unchanged on
cali
New York Stock List
e r Hutton Co., 40 CaIfo-nis street.
San Francisco, members OF the New York
Stock Exchange. furnish the following official
quotations Of that Exchange: