The San Francisco call., 1906-07-07
Ncw York stock Mnrket.

NEW YORK. July 0-very early in today's
trading on the Stock Exchange the same scarcity
day. This renewed the impressiono that the
liquidation was over for the present This con-
clusiOn excepted with extreme caution by
rhe professional element owing to the miscalcu-
lefion OF the same symptoms yesterday, when
cay n striking hrmness and freedom from sell
ils>f zessure The excessive dullness which oevel-
opefi today on the midday rise Was the reflection
OF this suspicious attitude. The market was al
most 81 st0ndstiu f0r long intervals and prices
ofifted slmiessly until the entrgnce OF new buy
ing orders into the market caused the successive
upward movements The discussion about the
Stock Exchange hinged largely on the technical
condition of the market and took little account
OF the general situation Of affairs. News OF gen
49, coIuit tl9is mas Deeh- IN iaet, alinest 1hee-
NiRtlRgiy Favorable throughout the period OF de-
clines Coatectares as 10 the extent and strength
~ the short Interest IN the market made up
the EtHpie of the discussion Very large borrow
iDg of stocks By Investment hrns which are not
orhilaFli. cons l0ls IN speculative dee lings
on the exchange was reported. On the face Of
"a. the borrowing of stocks for delivery sup
pressed shnIf safe 81 Q similar amount The
fmportrnce of tie lnsfsnoe was its reelection
of the suslici0us and unsettled state OF pr0fes-
sionai spe, native sentiment
The opening market still showed the effects
of tie disappointment over the miscarriage Of
yesterdays attempt u carry prices higher The
London pccoant- Considerable disghietude was
cauEed in mat center hy the ministerial remarks
~ Parliament OF the hazard Of an outbreak Of a
religious war ~ Egypt with the consequences 10
BE- looked Tor OF expressive outlay for the con
ouct OF a campaign 4lOnlonf discount market
was not affected and continued 20 work lower
witt 9 fayoFlRg effect Gpon New York's pros
peets foF securing gold al that center next week
But money conditieRs here were also rather
easier, rates for call loans falling during the
DAY. For tine loans the freer offerings were
conhDed 10 the shorter periods, while FOR six
months loans and longer. carrying over the end
OF rhe year, money was reported 70 be stiil
scarce and bard tg get, even at the 5i8 per cent
bid
Foreign exchange held most Of yesterdays re-
covery which was believed 20 be above the
level OF preet for gold engagements. Estime ties
Of the currency movement with The interior BY
cypress varied fF8H small loss 70 q gain Of
6 Few hundred Thousand dollars. the movement
toward yhis center on balance having evidently
abated from that OF last week. On sub-treas-
ury retioas tie banks have gained during tie
Wee2 s903 O0G. IN connection with the recOy-
eTF u prices tie reports were revived Of a
supposed deal FOR tie Great Sorthern's Oregon
lands by the United States Steel Corporation.
and of O runored infeatfon 70 increase the Anal
gsmafed Copper dividend u was not until late
~ the day thst the rising tendency proved con
FineinE % the szeptichi trsders. Their bella ted
buring thea made the closing strong Bonds
were heavy Total ss'es par valuel. 81 $50, 900.
United States b0a1s were unchanged on cali