The San Francisco call., 1905-05-18
New Yorlk stock sfarket.

NEW YORK May 17-There were a few
more shares dealt in on the Stock Exchange
to-day than yesterday. bur the ustless char.
acteT OF the tracing not altered The
market showed the same disposition 10 Weld
the days extreme changes, the only difference
being that yesterday those changes were de-
cltnes made in the first hour and followed by
q slow movement Of retneval. while to-day
the only considerable gains were established
during the first hour and were slowly yielded
sfterward. The exception Was ST. Paul. which
made its highest prices later in the day re-
spending 10 several distinct buying movements
which lifted the price a stage higher each time.
general list steadily demolished throughout the
day and practically lost ITS influence IN the
later trading Union Paeinc showed a special
syrnpsf1y at 4rst and was Almost As active ss
st. Paul itself, but its price drpoped and its
ACTIVITY demolished before the Operations IN
St Paul closed. Those operations were at
tributed very largely 10 professional account
and The many runcrE enoat 70 account for
IN one way or another. The assertions re-
garding these two companies pointed 20 alb
sorption OF one by the other, the absorbing
company varying IN the rumors- Meantime
Northern Pacific itself ana Great Northern
showed evidence OF some pressure, and his
influence. The market hac some help from a
renewal OF reports circulafion in European
firanciaI centerx OF a revivaI or efforts among
peace in the Far East The London stock
market showed sensible relief from e pres
sure OF belated ltQuidatons, which has caused
depression there for several days past The
weakening OF the price Of wheat On account
of the weather reports showing clearing cOndi-
rions and more favorable prospects in the win
Ter was8t belt helped the market. Reports Of
project On the part Of Kansas City Southern
Tor securing Independent outlet 70 New
Orleans gave some strength 70 its stocks. The
most effective check TO the influence Of the St.
Paul movement was the hesvfneSs OF the United
states Steel stocks. which were depressed
throughout the fear that the Iron Ages
weekly review u trade conditions would make
unfavorable showing The appearance IN
Wall street OF the advance sheets OF that
view were followed by an active selling move
ment. which weakened all OF the mtal stocks
and especially the United States Steel stocks
Anxiety was caused by the statement that the
buying movement OF pig iron had been almost
arrested while indications were that the job
bug trade had overbouRht early in the year
~ The lighter lines OF finished iron and steel,
and that the offering OF concessions was OF
problenlatical success in moving goods
The feeling IS abroad" says the Iron Age,
be expected until well mo June. and that
the crop prospects will have q decided infiu-
ence upon the movement" This broke the
market and wiped out the days gains for the
most part There were some rallies on short
coverings, but the closing was unsettled.
Bonds were steady. Total sales, par value.
81 905 OO0
United States bonds were AL unchanged on
call
New York Stock List.
T. F. Hutton & Co. $50 California street.
San Francisco members of the New York
Stock Exchange. furnish the following Official
quotations Of that Exchange: