The San Francisco call., 1905-03-28
New york Stock Market.

NEW YORK March 2T.-An extraordinary
PLAY ~ quotations IN g large number Of low
Frsee industrials and specialties kept up some
appearance of strength for the greater part
o. to-day's session Of the Stock Exchange and
served a. disguise the realizing that was going
t1 the more substantial stocks. But the
market gave way late in the day and fell
kept alive the hope that the great resiliency
kept alive last week On the naidweek decline
was a herald Of the strong resumption OF the
There was generally strong expectation
among professional operators that the dubious
points IN the speculative situation had been
forced irto the background by last week S
demonstration Of the resisting power OF the
market The halfing tendency which developed
in the course OF the days trading was not
clearly traceable TO any change IN conditions
or oufloolx frlt the disinclfnstion 10 follow up
last weeks recovery with further large buy
ing was very clearly defined The miscellane-
tire tir1e while efforts were making 10 hold
the market we're not the subject Of any infor-
nation either special or general to account for
and the lack Of any common ground Of In
terest between them were the cause Of some
suspicion of the movement. A list Of % TO 30
might be compiled. many OF which rarely ap-
pear IN the transactions. which were lifted from
one to nearly eight points. Some influence is
given 10 the money outlook the factor
checking active speculation. and especially
seith the April ! requirements now near at
hand Quarterly payments on that date viii
add 70 the normal monthly requirements. The
renewal Of demand for gold the part OF
Paris. which came into force in London on
fes considerably the prospects IN the exchange
market. Any tendency for gold to move TO
New York from London would be restrained by
e an extended demand from Paris. An intimatfon
cagne from Washington also that further calls
Tor the withdrawal OF Government deposits
might De expected 10 the extent OF $f5.O 600 600
to Szevgooe as opportunity might offer with
out Likelihood Of harm TO the business inter-
este OF the country. this measure being consid-
cred desirable TO be cOmpleted before a possible
money Etringency IN the fall. The tone OF for
eign markets was regarded as renewing the
doubts of peace which felt to be inn
nlinent last week A bad effect was produced
by the decidedly weak showing Of net earn
ings Tor February presented by Atchsou the
decline in gross earnings being aggravated hv
a rise ir operating expenses so as 10 induce
and decrease in net earnings for the month OF
SSl4 600 or more than ~ per cent Reports
% raiiroaf traffic generally continued highly
encouraging on the part OF the railroad off
ciaIs offerings Of all classes continuing large
while favorable weather conditions enable the
hendline Of the business AZ lowest possible cost
of operation. Stocks. however. showed in
creasing signs OF weakness as the day pro-
eressed- and closed al practically the lowest Of
The day Union Pacific's decline ran to three
points and many other standard stocks TeIl
from one 70 two points
Bonds were irregular. Total sales par value.
81. .32O. 600.
United States 3s coupon and the new a
coupon declined. and the new 4s regular T.
New York Stock List.
p. p. Hutton & Co. z9o California street
San Francisco, members Of the New York