The San Francisco call., 1906-09-15
New York stock Market.

NTW YORK Sept. l4.-Operations on tne
long side Of the stock market were resumed ID
sufficient volume today TO effect turn from me
downward course of prices in progress YESTERDAY.
TIC dav's strength was spotty. strength at ore
mint contrasting with heavincss at others IN
tie process Of nlaneuTerlng 70 take pIpnss- Ane
r,ou. r,-,dina clement was skeptical of the mar
ket snd put out short lines on the advances. Ihe
f,riDcfnsl operati0ns centered in the coaiers eS-
neci ,llv in Reading. Much Of the activity IN
thar stock was attributed 70 along ssahq-s oO
Bumors were revived OF an intenoeo pFest,lehs ,,
Of ownership Of coal properties 0yl the railroau
companies This report has reappeAfea ~ l'se =
walls since the publication OF luuleiat oe
oision which seemed 70 indicate the ilegahtE OF
tie present ownership Of the means OF produc-
tian ~ tie material transported, and has been
recorded as favorable TO the coalers. Details
were not forthcoming Of the plan. but the spec,
,Ilaffve asgumution was that large profits would
accrue 10 the railroad companies from the pro-
ceeds OF the new arrangement The rise IN the
caqie-s on this assumption was in contrast 10
the former favorable effect on those STOCKS OF
TIE taking over Of coal mining properties OtneI
stocks which were notably strong had speclal
causes assigned They were some cohsllc~uo.s ~
groups in the line o. advanclne prices Slu snl-e
recent leqders were held back throughout the day
THO > nor cent dividend came of the prlce OF
Union Pacific and instead Of attracting aeman9 d
there seemed TO be selling by those who had
held only until the dividend should accrue 10
fi1em a n esher Of industrials figured in the
5ar-s a5var-es IN deveIopmenfs in the special
rr@des in which they were interested or IN me
afTsirs 0f the corporations themselves EstlHls
of The bank statement pointed to a favorable
return tomorrow and this was used TO encourage
tie speculation. Tho Increase IN cash Tor tee
week WaS estimated 10 be IN Ine nelSnooflo''u
Of Sl5. 600 900. The Sub Treasury operations in
clude the payments Of recent gold ensacements
abroad except today's payment Of Sl.t19.OoO.
which brings the total payments on tnat ac-
cn,fnt for the week I'd 10 Sls 6J9 600. But the
receipts of revenue payments ana ior Neie-
graphic transfer 10 interior points and other rou-
rfre Cub- asurv operations leave the payments
hv fhaf institution 10 the banks st only Sl3ozS--
on0 There Is 3 small Offset TO this gain IN the
riorercent on balance by express 10 the interior
v,-hfoh * estirl sred at but few hundred thou
sand dsllars. compared with over nFe mluloh
dollars last week This relaxation IN the lnte-
,so, demand for currency contributes much 10 the
y,roraieed strength Of tOmorrow's bank statement
The further advance in the sterling eNchange
rate TODAY decreased the command by New YORK
on god IN London Attention was given 10 a
ronort Also Of semi-ofhcial statement OF tne
I-rrriFfincneSS of the Bank Of France 70 release
god for shipracnt 10 New York. fai IN ster-
Ifne e.chance at Berlin today lessened the pros
poet Of gold moving from that center TO l.onaon;
xr-hf@b has been canvassed rs an lndirect nleilod
81 renewing supplies available 10 the New York
denaand The late furry in money WAS aftrlbnted
n the nreDararion for some large divldena pay
rlcnts dne tomorrow. the principal OF which Is
the Sc 00a 000 payable 70 Standard on stock
holders This proved restraint on any sympa-
fhotic response 10 the buoyant npshoot in Read
inc end made an irregular closing
Bonds were heavy Total sales tpar Faluel.
50 0GeO00
Unlted States bonds were unchanged on cali
New York stock List.
F. F. Rutton & Co. 400 California street,
members Of the New York stock Exchange, fur
pish the following list Of bond and stock sales
Yesterday.