The San Francisco call., 1906-11-21
Ner Ynrk go Nfarl,et

NEW YORK Nor % The restraint of the
days stock market us action suggested that
me speculative movement would have halted
more completely had II not been for the braeing
effect of the sudden and violent advances which
oocurred al different times during the day IN
4 Teran- stocks Tie snecial uovem euts were
unexplained by authoritative news. out there
we've plenty n ulmors of moro or less plausible
seeming The point jump in Illinois Central
7 ne Tlm2rs had 10 do with tie supposed rela-
tion 81 the property 20 the project working out
in regard 70 the St Paul II wss argued on
fi,e one hand that st Paul and Southern Pacific
r-cre 70 he brought into g more intimate rela-
ion bv Interchange Of stockholdings and that
iilnos central was 70 figure as the holding
company for the merger property Another r1-
nor was that urgent huyinC 10 perfect the con-
troll ~ Illinois Central. in view Of the internal
differences IN the company. was responsible for
The upward shoot in price The movement in
Louisville and Nashville owed something 10 sym
DaTlT oa account of the analogous conditions
aud territory Of the two roads. There also
u'nre silrnlises on the possibility Of g dividend
iaoresse Tor Louisville snd Nashville. and it's
-iIhsioiarF companies shared il the strength
I0-k Island was the subject Of stories of sn
fr1u!sitiou IF control Of Colorado and Southern.
Whicl met with official disclaimers St Paul
r-as loverish and irregular. reactfng constantly
from iis vigorous advances. One or two of
rie Industrial specialties made similar spurts.
notably General Electric and Peoples Gas. The
manner IN which these movements were conduct
~ Ni,.F g "a allsE convincing 70 sentiment ana
thclr lack Of influence Of sustai lining the market
became more marked as their number grew and
-t Siseence OF lntelllelole ground Tor me move
lnenF became apparent The money market was
''-f-tA tt-lt Df opening rate OF y Der cent
soon gave WaE 10 per cent and Yesterday
nd yinlrm Of 9 per cent was touched nd passed
esr-r in The afternoon As known conditions
s''ffl no he moving in favor Of the banking
pos frlon this SensltiTeness of the market the
eonleods for the speculation proves disturbing
FeW York exchange IT Chicago rose 10 20c pre-
Winn DER $1,000 marking the continued fow Of
f"lns toward this center The reports Of con
'iitson of banks in other cities in response 10
fi-o Countroller's call Of November u are
i"sused with interest and tend 10 show the
-f".i0-s- expansion II credits and low state Of
Tf-Crree sustained in compsr rison with the show
,ng under the previous call in August 4 bad
l-nward If s. 500 900 in London to be withdrawn
troin the Bank of ENGLAND for shipment 10
Brazil and Argentina The demand from Brazil
IS duo 70 prospective monetary legislation deal
lns with the exchange value Of the currency
Hopes have been expressed that London would
ROT. however. entirely unforeseen The matter
Constitutes one Of the numerous Influences in
r-o delicate balance Of factors on which de-
ffoidS fhc ability Of the Bank Of England to
-ar f5goE1h TO the new year without advancing
1fS c-saoiint rate Sterling exchange was easier
f"ao was hrmer in the monev market also in
'Fnpathy with the rise in call loans. The
oav'S gains were much impaired or entirely
-incd Out with the rise 10 10 per cent in money
9nd the closing was easy with 2 mixture of net
l,s-ns
ee9ds were irregular. Total sales tpsr value).
United States old 4s. registered. declined <
pcr cent On call
New York Stock List
r F. Hutton & Co. $40 California street
mriu5ers Of the New York Stock Exchange fur
ASH the following list of bond and stock sales
yesterday;