The San Francisco call., 1905-01-20
New york Stock Market.

NEW YORK Jan. 19-Transactions on the
Stock Exchange We're not 30 large to-day as
share mark and the less congested dealings in
Reading sufficiently accounted for the contrac-
tion in the total The movement Of prices was
hesitatng and irregular. the level fuctuating
constantly in either direction throughout the
day. The violent advance in Reading, instead
OF proving incident to the buying Of stock
elsewhere, developed into positively deter
rent factor. The rocket-lilze rise in that stock
TO above 80 In the first hour proved wet bian-
ket to the speculative enthuiasm and the up
ward course which prices had taken at the
opening was reversed. When Reading was let
back and quieted somewhat prices were pushed
upward at some other points and efforts made
to revive the animation of the market. 1t
was diligently sought to convey the impress
sion that the excited rise in Reading due
to its heavy earnings and the highly prosper
rather than to any large outstanding
abort l.: interest ,s s or to any danger % Of cor
terday. Rumor continued very busy with
socfations of short interest In the stock
lecture as to its Identity At the same time
the way In which the prosperity of the an
were enlarged upon made diversion of the
speculation into the other coalers. the easiest
recourse for the market leaders The move.
then In the Fries. Ontario and Western had the
additional advantage Of rumors that. the mi
by the newly dominant New Haven control
Amagamated Copper enjoyed early advance
on the strength Of the increase OF the dividend
disbursement by a subsidiary company and
the. expectation of corresponding action by its
own directors during the day. But the specu-
. 1atioa In the stock proved unusually quiet for
day set apart for dividend action and 1t was
under pressure on reactions with the rest of the
market Besides the nl.sgivings aroused by
. the fears of trouble among short interest
In Reading, the threatened strike OF trainmen
In this Pennsylvania service caused an under
tone Of anxiety throughout the whole market
The Industrial situation has been singuariy
freS Of labor disturbances for some time past.
and the intrusion OF this factor aroused q
feeling Of anxiety to its possible spread.
The reports during the day Of the progress
. Of the conference on the subject were followed
with keen interest. The earnings for the seq
failed to show the tame rate OF increase over
those Of last year which has been the rule
in the recent paet, thus confirming the views
Of traffic officials that q rnidwinter lull had
occurred In trade activity. Talk of disputes
. over Western and Southwestern grain rates
also received attention. Brooklyn Transit
. weakened ON the report submitted to the State
lay which would be required 70 secure the ef-
fsctive operation Of the system. This move
ment and pressure against Reading and ANAL
ganated Copper helped 10 make the closing
easy.
There was broad and active demand for
. bonds of practically all grades and the course
oe prices was generally upward Total sales,
par value, Sc. .005, 900.
United States bonds were all unchanged on
the last call.
New York Stock List.
e: F.. Hutton & Co.. 400 California street.
San Francisco, members OF the New York
Stock Exchange, furnish the following official
quotations of that exchange: