The San Francisco call., 1906-11-08
New York stock Market.

NEW YORK. Nov. THE speculation in
stocks proved 10 be Of desultory character to-
early selling The largest part Of the activity
was during the frst hour. and this was largely
under the domination Of foreign influence.
Reported apprehension OF further advance
il the Bank Of England discount rate al the
weekly meeting Of the governors tomorrow was
2 principal factor That buying had been due
70 8 hope that with the election out of the way
there would BE- 2 revival Of speculative demand
for stocks. There was sign Of il this morn
iug. snd the selling 10 take profits aggravated
the ehect Of the selling for London account
The Supposition Of rise in the English bank
rate seemed due In part to fears on the part
Of the authorities OF the bank that the New
York stock market was about TO enter upon a
period Of speculative activity. with the
probability OF enforcing further demands Npon
The English money market 10 keep 1t up. So
Ear a. this factor in the days talk Of
q rise in the bank rate the effect failed 10
Justify rhe apprehension. as operations in New
York were diminishing scale after the
opening burst of selling II is evident, how
ever. that the Bank Of England has not made
satisfactory progress in the recuperation Of re-
serves considered necessary before entering upon
the yesr-end requirements. Importance was at
fached 10 g report that the Bank Of France
relinQuished some Of its gold holding today for
shipment TO Egypt relief for the Bank Of
England from this drain might be hoped to
operate gainst an advance in the discount rate
The only notable resistance in the market
was the Hill stocks especially Northern Pa
ci6c- The strength of these stocks was sttrib-
uteo n The old cause OF an expected disburse-
menf IN some negotiable form Of the bene-
hclary results Of the iron ore deal. There was
nominal strength in Illinois Central and in Chi
cseo and Alton. which was explained by the
belief that the assumption of the control Of the
Illinois Central IN the Hartman interests ar
CUES some project Of closer relations between
roads dominated by Hartman
The local call money rate was maintained to-
CAV. but IL did not advance The tone Of the
time money market however was strong and
nervous Very little money was in the market
There is some confidence that the interior de-
nsnd for currency is nearly sstis6ed for the
present. but the condition Of the local money
market IN the immediate future is believed to
be deDendent OF, the attitude Of London lenders
IN connection with the next stock market set
Element Reports from Washington Of 2 case
IN preparation for prosecution Of tbe STANDARD
on Company received some attention IN the
market The demand from uncovered shorts
which caused recoveries IN prices disclosed that
bear activity vas important element in the
markets weakness. but considerable net losses
remained after the rally. The closing tone
was frm and dull
Bonds were heavy. Total sales tpsr value,
81 7ss 600
United States bonds were unchanged on call.
New York stock List.
r Hutton Co 900 California street.
members n the New York Stock Exchsnge fuY-
nish the following list Of bond and stock sales
yesterday.