The San Francisco call., 1906-09-18
New York stock Market.

NFW YORK. Sept 1.-THE speculative choice
Of favorites went racing through the List OF
STOCKS usually prominent in the market today
and exploited the individual stocks tnus selecteo
for What they could be made 10 yield in the
way OF a prlce movement. The furious activ-
iv with which The sudden bursts Of buying
distinguished these stocks was no less aston
isltlg than their sudden lapse into guinness
when operations turned TO the next cnolce on
TIE selected list AS the various STOCKS were
left behind by the tide Of the most active
trading rhey were inclined sag back In price
sroun0 the ilnucnce OF the pront-Jaklng sales
Some Of the strongest ana most active STOCKS
Of the early dealings lost al llelr gains sup-
seQuently-those that Immediately followed IN
the movement lost part, and the latest comers
into demand conserved the best part OF the
gains. Individual transactions in separate
stocks were very large and gave the impression
OF orders executed from one source under
concerted operations Purely speculative opera
lions bv room traders in following these move
ments were on an enormous scale and without
any pretenSe of information 10 base the buying
On Blocks Of thousands Of shares were bought
the floor anC often quickly sold at slight
advance for no other motive than that they look
&C 5000 Tor movement some OF tne Cay B
conspicuous movements were advertised before
La1C and were the subject of widely circulated
Ups De1cce Ihe LnaEAeL opened accumulation
Of buying orders over the weekend result
Of last weeks influences were q moderate
scale he. usual weekly summing up OF IN
oustrials ana business conditions was convincing
Of the food tide Of prosperous activity in every
braach. The movement Of all kinds OF
merchandise over all lines was reported to be
limited only by the available equipment facilities
and railroad officials expressed but one appre-
hension, and that Of a famine and coming
freight congestion from insufhciency of means 10
take care OF freight Offering The railway
equipment stocks responded early TO this show
ing Of conditions. Analgamated Copper re-
sponded 10 the showing Of general prosperity In
the copper trade and TO specific rumors Of in
tended increase IN the dividend Oh Anaconda
snc its own stock. The speculative element
was disposed 10 assume that the Saturday bank
statement showed that the crisis in the money
market lad been passed and an obstacle thus
removed TO tie due reflection in the securities
market OF the extraordinary prosperity prevail
ing. First loans on call were made at below
per cent, compared with Fridays per cent
rate, and this served TO confirm speculative
confidence. The later rise in the call money
rate 10 10 per cent had something to do with
the reectlonary tendency Of the later stock
ket, although the palpsble speculative exploita-
ton OF stocks that was going on and the
manner in which different issues were thrown
hausted excited some easiness. The harden
ing OF the money rate WAS attributed TO the
arrangements making for a payment for an in
staAment Of subscriptions 10 Baltimore and Ohio
v3OOvO There were some additional gold en-
gaEements in London announced ana incoming
steamers brought several millions engaged abroad
100 small 10 get the benefit of the Treasury aid
measure and which therefore became newly
available 10 New York bank reserves with their
arrival There were further remittances from
mere 70 San Francisco through the Sub-treagury
Reading Pennsylvania. the Hartman pacihcs
portion Of the days dealings The closing was
saved.
Bonds were irregular. Total sales (par value).
y per cent call.
New York Stock List.
E. F. Hutton & Co.. 49O California street
members OF the New York Stock EXCHANGE fur
nisn the following List Of bond and stock sales
yesterday: