The San Francisco call., 1905-03-25
New York Stock Market.

NEW YORK. March 24.-There was a pro-
nounoed uptu-n in the course Of prices on
the Stock Exchange again to-day, which was
undoubtedly. due in part 10 the closing up
OF the short contracts put out on the decline
curing the week. Yesterdays market already
showed some symptoms that the decline had
run 10 4 point where effective resistance was
encountered and sufficient new buying de-
mand was met TO support prices. Bears with
uncovered short contracts accepted this warn
iuE and bought 70 cover very generally to-
day There was at the same time marked
revival in tEe circulation Of rumors OF the
same clsss and for he most mart Identical
IL form with those which have already served
many times. TO excite demand ior stocks.
The strength of New York Central. Union
Pacific and Northwestern was notable case
81 point The Information disseminated on
the break yesterday was that control Of Union
Pacific had passed from its present hands.
To-day the information was renewed thst buy
ing Of the best character. namely. in ths
Interest OF persons already IN control was
conspicuous in both New York Central and
Union Pacific. News or rumors Of this char
acter are Of great effect In the excitement
K speculation as the most explicit announce
uent OF plans affecting the control or opera
tion Of a property The Southern iron COM
bluation was another project which was pa
raded before the imagination Of speculators
with proved effect as shown by the wide move
ment in stocks Of thar group The long tine
reports OF merger of lead interests was
aHCther effective instrument IN the upward
movement 0f prices Old and new dividend
runners also played their part stocks in the
rubber industry being especially sfe&ed. Tie
of success in securing contracts FOR further
Eubwsys IN the efforts taking behalf Of
these Interests colorado Fuel Was still in
demand on the strength Of its subscription
rights n new securities. glance over the
list vii show the important part played in
the recovery by stocks thus specified as IN
Ger Individual influences The reversal of
sentiment under the general market situation
attributed 10 subsidence OF fears Of
stringent money. The heaolong plunge in
the price Of foreign exchange was the pTfn-
cIpsi factor IN the change Of sentiment. TIE
. irdications thus given % the freedom with
y mich foreign money resources are becoming
available 10 the New York market proved
greatly reasSuring. The price of exchange
tsrCe a. the gold import point and IL was
felt that actual need FOR money here would
lead promptly 70 an inward movement of gold
Account vas taken. however. OF the accom-
rate 81 Paris which has fallen centimes in
the pound il two days past. showing a con-
siderable increase ~ TIE demand from that
center on London. Estimates Or the domestic
currency movement Indicated A cor siderable
ioss in cash by the banks the week s
movement. which is practically measured by
O.. Thursday night But the sharp fiquida
ton of the week in stocks and the large
resort bad 10 foreign lenders is expected to
result IN z large contraction IN the volume
inlshrnent n the surplus item. The profit
taking IN the last hour well absor bed
and the market closed strong and animated
a. The best prices OF the day.
United States ss tcouDon) advanced per
cent call.
New York Stock List,
Z. F. Hutton & Co.. zsO California street,
San Francisco. members Of the New York
stock Exchange. furnish the following official
quotations OF that Exchange: