The San Francisco call., 1906-06-19
New YORK STOCK Narket.

NEW YORK. June Ig.-Something
- as enected today toward arresIing z
stocks which was steadily gaining
force up 20 the close OF last week The
market turned downward toward the
lssll however, and closed weak. With
tne early check 10 the fall there re-
lnatred some uncovered short contracts
10 oS covered and this Induced some
1stly n prices The strength OF the
marker from this cause was restricted
% rev of the stocks which have been
lhe laTorites IL the speculation The
demand became exceedingly languid
when the rally made any headway and
the tone continued Lesi1sting and IN
certain The list as d whole was not
aIecteo Al any time by the recovery
mere were some conspicuous laEgards
and al other points positive weakness
which served 10 keep the market uu-
ssslleQ ano lot Iuliy responsive 10 The
ra-iylDg tendency Pennsylvania was
notable example Of the persistent de-
preston, while 3 few active speculative
leaeers were advancing. a good ef-
lect was produced on sentiment TOO.
Dy TIE more definite character OF the
assertions that The Pennsylvania bond
1oLauc1 n Paris had been completed,
a-LnonEh 10 formal notice On the sub
9ecL was forthcoming during the stock
exchange sesSlol- The successive 6e-
lays IN the completion OF this trans
action were al influence in the weak
ness Of stocks lest week. The carry
Ing through OF the operation Is con-
ElCerec 10 have an important bearing
A-l- AL-E -tl llLZl ENElznEe SlLUz-
Lon oE Nae increase IN the credits
available 10 this mai ket for the meet
ing OF maturing obligations on finance
E---s- EariS lnaEcl3l markets were re-
ported 10 be IN . more cheerful temper
today over the Russian outlook. al
though news OF events IN that country
o1ereo no clear explanation OF this
+ ported better feeling Sterling eN-
Change here was marked down in
response TO London The local money
market was not much changed IN tone
FaNEEEr thar there rlfE
N call loans from the Stiffness caused
bT last weeks large dividend require
ments. The time money market. how
ever. was strong aha rates were ap-
preciablv higher Seven and eight
months money was reported IN active
demand AID The supply wss scarce.
business being done al 81 per cent
and above The rate demanded for six
months loans also was per cent
Stocks were benefited by the breaking
OF the drought IN Kansas and Ne
brsska. and the effect was judged 10
be Important by the response Of' the
grain markets, which broke sharply
discussions We're more inclined 20 ao-
mit some damage 10 wheat IN The
Southwest than they have been here
toIorei 1El II was asserted 1haL tne
damage had not been large enough 10
shake confidence in the general busl-
ness situation
A slight falling OF il the general
volume Of trar1c on the trunk line rail
roads was also admitted Another vlo-
lent reaction in the price OF copper IN
London was feature OF the days
news. bat did not prevent AnlaIga-
mated Copper from sharing in the days
show Of strength. The pressure Of
liquidation IN Pennsylvania increased
Greatly in the latter part OF the day
\, nd affected the whole market in sym
uarhr The gains were very generally
wiped out IN consequence, and the
closing tone was weak
Bonds were heavy. Total sales (par
TsIue1 s1.72o.oo0
Tnsted States 3s coupon advanced
4 per cent on call.