The San Francisco call., 1905-08-15
- York stock nfnrket.

NEW YORK. Aug. 1.-THE speculative
forces which developed in last weeks stock
market gathered energy for rush with the
opening Of the week. which swept the whole of
ne early market % a higher level Of prices.
The very large selling 70 take profit which the
market had 10 encounter had Increasing effect
IS the day progressed and gave the later mar
ket some appearance OF weariness but there
~ss no mistaklng the increased force Of the
uiscel laueOus outside demand coming from va
rious sources through commission houses which
made itself manifest IN the accumulation Of
large buying orders over Sunday. The sufh-
-eE OF this new demand to absorb the large
- lg 10 take profits was matter for satisfac-
=. he Guietness Of the later demand. however
showed that the accumulated orders al the
opening were not followed up in equal volume
The professional element was left rather obvi-
clsiy 20 take the market in hand again. This
they die by the renewal Of last week tactics
ot successive advances here and there in the
market The volatile high priced stocks con
rnued largely ia evidence, but some OF those
Wllch inquired most consplcUously last week
e. were somewhat reactionaFy. The days deaf
lngs. which made on the whole q broad and ef-
1ecuFe market, were based on the general
considerations which were already making
themselves felt last week. Principal Of these
IS the crop outlook as defined by last weeks
Weatlsr conditions keep the feeling Of conf
cence 30 the prospectus outcome OF the grain
crop. Railroad officials IN the customary
weekly reviews published to-day spoke Of the
widening effect through all lines Of business Of
ne cheetlul ouli91h over me crops ano IN
ouleeo IN some very r5seAte views Of the pros
pective railroad earnings Tor the new fiscal
year. Available equipment is said 70 be on
diminishing scale and fear Of rust damage TO
wheat in The Northwest IL alleged 70 have
passed. Confidence is growing IN the unprece-
Genfed yield Of the corn crop and the corn
Erangers came into beleted prominence in the
later hours OF - days market. Raw copper
had another advance and the faV0rs bic reports
from the iron and steel trade showed an IN
changed tenor. A good effect was produced bv
the report that the dispute over FREIGHT rat ,s
on certain articles as between the Atlantic and
GUlf lines had been settled and the cutting OF
rates done away with. Attention was given
also 10 reports that the purpose to call an cx-
ira session Of Congress had been reconsidered
fhue promising delay IN the bringing forward OF
questions which are viewed with some pelturha-
fion from the stock markets standpoint The
progress Of the Portsmouth conference was felt
20 promise well Some attention given TO
assertions that American bankers were being
sounded with a view Of sharing in a Russian
loan. The dotation Of 2 Russian lean some
where is regarded as necessary consequence
OF e peace treaty and the distributive effect IN
al the worlds money markets Of such q dota-
- leaves the question Of the point chosen
AZ rather secondary importance, 50 far the
deect on money rates is concerned Stocks
made substantial recovery late in the day, the
corn grangers again leading with the persist
ence % selling 10 realize making the closing
irregular.
Bonds were Irregular Total shares. par
value IS CSC. 600.
United states bonds we're all unchanged on