The San Francisco call., 1905-04-14
New york stock Market.

NEW YORK April 13.-At any time to-day
The stock market would have been pronounced
spotty and irregular. and 1t is only by a sur
vey OF the days trading as whole that the
amount OF strength manifested is properly dis
cerned. This Is because Of the system Of ro-
tation employed by the active operators in
conducting their transactions the demand
shifting constantly from one 20 another stock
and from one portion OF the list to another.
While picked stocks were advancing the gen
erHl list was either held back OF forced down
sales. which went hand-n-hand with the buy
ing Of special stocks. Il was not until late in
veloped IN the market. In the early dealings
there considerable disappointment caused
20 the professional element by the halt IN the
advance OF those stocks which made the buoy
ant outburst al the closing last night United
States Stel preferred. Union Pacific and ANAL
gamzted Copper were notable examples. It
WAS Characteristic OF the market also that
after advances had proceeded for time the
stock thus affected would come TO a pause
process kept the traders constantly confused IN
attempting 70 follow different movements 70
The confusion OF mind led 10 q suspicion OF the
market which quite stubbornly held in
different portfoxs OF the HIST In the late
trading stocks which had been conspicuous
laggaros early IN the day taken I'D IN
their turn and advanced in consonance with
the movements elsewhere. The resumption OF
the aggressive advance in Union Pacific had as
much 20 DO as anything with the decision Of
the trend OF the market. The manner in which
this stock is supported IN spite of the doubts
engenoered regarding the food OF r7lnaors con-
cerning u and the failure OF disturbing rurnors
OF various kinds 10 weaken the market effectu-
ally has had the effect OF intinidafinR the
bears and reassuring sentiment. II IA said
that stocks are easy 70 sell and that any at
tempt at accumulation discloses small float
Ing supply This condition was generally at
trtbuteo 70 the great strength Of the generzl
situation. IN which renewed confldence fs
caused by the extraordinary conditions IN the
iron and steel trade disclosed BY the statistics
for March. But this influence was fortified nv
reports affecting special properties Thus
Readings striking movement to-day was fos-
tered by rum0rs that the stock is to be nut
on q four Der cent dividend basis Stories of
g comprehensive combination Of great corporste
dustries helped the Efforts of pools in the stoci
affected 70 advance their price Northern g.
curifies settlement again emerged into prom
inence with the vague intimation that nert
week with the issue OF the mandate of the
Supreme Court for the distribution OF the com
pany'e assets. the great merger projects which
have been waiting that event will culmI-
nate The constant shifting OF the demand
developed a large number Of gains as the dav
ned prices back before the close but thew csrne
up again and the irregular closing was not Far
below the toD level
bonds were Irregular Total sales. par value.
50 $50 600.
United States bonds were all unchanged on
call
New York Stock List
z. F. Hutton & Co.. $50 California street
esn Francisco. members OF the New York
Stock Excnange, furnish the following ofeciai
quotations OF that Exchange: