The San Francisco call., 1905-06-06
STOCKS md Cotton.


The New York wires Of z. F. Hutton & Co.
yesterday skid
Stocks The feature OF the stock market
to-day was Rho continuance Of the bull support
and manipulation hy the same interests which
were employed 10 bull the market Friday and
saturday 10 nullify the adverse effect on the
Frick report on the Equitable Company's af-
fairs Stocks were bought and bid I'D Friday
Afternoon hy this interest as Il was known
rher that The report would come out and al
though The bank statement en- Saturday was
worse thar expected. this buying was continued
curing Saturdays session and there was fur
tner aggressive buying and manipulation at
tllieS t"-.llF unrer me leadership or st Fa1i,
Brooklyn Rapid Transit, Ontario and Western
snd Reading, followed later by the steel stocks
ana some 4 The speclalties- Various banking
houses received advices from correspondents
a. Londcn, Paris and Berlin over Sunday which
indicate that the worlds leading financial men
are moving actively in the interest Of peace be-
tween Russia and Japan and that there is
now some hope OF influencing the Car 10 adopt
tho inevitable This was made the basis OF
the attempted Dull market movement IN the
morning. and the conditions were thought to be
favorable enough 70 put out the long promised
financial statement Of the financial status OF
Analearnated Copper and its prospects This
statement was given cut before II o'clock after
TIE stock had been ruR up = points at s4Ss
and showed surplus OF nearly 50, coo, 600, with
shout s.. 500 600 cash on hand Making allow
ances for the payment OF the last quarter S
raised 50 high by the exaggerated predictions
regarding the character OF figures that the
stock Was freely sold and broke over . points
ITS elsa ppoinTing action Ora eyed down the rest
a. the market In the late trading when there
was evidence Of a further attack from the
Boston bear raiders. There was. however. very
Ertle real commission mouse business. and
LCndCn's total operations on the buying side
did nCL exceed 10, 600 shares. according 10 nb-
cral estimates Of foreign houses. We see moth
ing particularly encouraging at the moment TO
warrant traders loading up with stocks. We
want 20 see the Equitable affair settled first
end the crop situation and outlook on wheat
and corn more reassuring before We shall think
i- time 10 10 SO. Meanwhile the best policy 10
pursue would still be the attitude cf scalper
in trading from day 70 day
COTTON-E5ef1re the opening we thought the
market would prove good sale on THE bulge
and advised liquidation against the purchases
good many other operators adopted the same
policy, and this combined selling, with the
other bear crowd assuming more aggressive
attitude readily filled up the demand, and
later the market broke sharply on what was
feared 10 be a rather general reselling move
nlent, Influenced by the fine weather map over
Saturday, which makes full week OF almost
ideal weather conditions in nearly all parts Of
cotton States for finished planting and culti-
waiting the crop Later the market developed
further Wea Sness on succession Of bear at
taczs, which brought out further Liquidation
Sro southern selling There was q rather gen.
eTal disposition 70 discount q bearIsh weekly
Government crop and weather bulletin to-r1or-
row. and. although Liverpool maintained most
OF it's Improvement and New Orleans was we'll
supported, prices here broke shortly after 1
a. clock &c level OF 10 70 IS points below Sat
urday's close and % 70 2S points from this
morning opening. While the market was being
pounded and stop orders were being reached by
the bears. there were gOoG buying orders on
the decline. and later the market steadied and
recovered. Il is our opinion The crop has made
considerable Improvement during the last ten
DAYS and We expect 10 see tomorrow & Govern
ment report refer 10 the completion OF planting
and fields being freed from grass and weeds