The San Francisco call., 1906-09-19
New YORK Stock Market.

NEW YORK. Sept Is.-The principal factor
n the stock market TO-DAY wss ne .i ao1i-Ssig1 4;
hand that negotiations were in progress Tor me
The Pennsylvania for the bankers While the
sensation Of the days market was II Reading
tie Baltimore and Ohio transaction was none
lie 4less the impelling cause. This was SO tor
abe reason that the division Of control OF Read
sng among the trunk line railroads was man
aged IN the case OF the Pennsylvania oy placing
holdings Of Reading stock IN the Baltimore ano
Ohio treasury, as the New York Central on its
lArr placed Heael1gs holclngs IN tne axe
Shore treasury With q passing Of control II
Baltimore and Ohio 10 other hands than the
LllnSs lNanla. It's share OF innuence IN the heao-
tng control would also be affected. Wall street
WAS uysJineC as 10 the ful bearing OF the new
arrangement and as 10 the extent TO which the
Co. asserted that the report Of the sale TO the
lnion Pacific Was premature while admitting
lens were thus presented for the Consideration
q the investor and the speculator-t It was
assumed that the Pennsylvania would insure It
self against harmful use Of the control Of Bal
timore and Ohio before parting with i. But
less certainty was felt as 20 the possible atu-
ulce of other trunk lines 70 the new arrange
ncnt especially in its bearing on the Reading
management. The violent advance IN Reading
aroused some apprehension that g scramble might
be going on among the railroad powers 10
scLleFe a belateo read5ustnent OF the balance
1n Reading holdings. II was held TO be plaus-
ible also thar in fixing the destination for its
holdings Of Baltimore and Ohio the Pennsyl-
Nania might have been actueted by policy Of
rolte from ocean 70 ocean was shown IN the
opposition 10 the Wabash efforts TO secure entry
1nVo Ilt;sburg. The lurking possibilities OF re-
sentiments and harmful contests thus suggested
mace the Reading movement dampener rather
r1au stimulation TO speculative confidence.
The continued strength OF the money market also
was cause Of dissatisfaction in speculative
circles and disSipsted the belief that the thrush
AZ gold last week and the continued arrivals by
the steamers this week had efectually relaxed
fie money stringency. Some further Tightening
WAS looked for as the frst Of October approach
vvpr
hooked Tor Not only the call money market
haTd today. with high rate Of per cent, but
the premium on time loans was again advanced.
aid almost no funds were Offering in that
market. Discounts hardened in Paris and Lon
don. TIE open market in the latter center rising
above the Official rate Of the bank The rise in
Sufficient notice Of the rising course of the
money market at that center. New York ex-
change az Chicago fell 70 twenty-five cents dis
f0hlt- NE points OF strength in the days
market were generally among industrials,
Ariaigamated Copper continuing conspicuous,
win reiterated rumOrs Of q dividend increase
TIE railway equipment stocks enjoyed the bene-
II OF me known requirements OF the railroads.
Hepublic Steel was affected by the proposed in
crease IN Tennessee Coal stock in view of the
heltef IN ultimate merger of the two companies
minneapolis, ST Paul and Sault Ste Marie suf-
fcred from the disappointment Of persistent
claims that the dividend was 10 be increased at
Talays meeting Of the directors. The market
showed some relief when Reading yielded more
WIS irregular
Bonds we're irregular. Total sales. par value,
United States bonds were unchanged on call.
New York Stock List.
F. Hutton & Co.. 400 California street
members Of the New York Stock Exchange, fur
risil the following list Of bond and stock sales
yesterday