The San Francisco call., 1906-08-15
New York stock Market.

WV YORK Aug 1.-THE market for Sc
cuTties was too Gull today 70 warrant anything
r6iinQuishment OF the vigorous support which
les i:7fl evident throughout the recent rise II
prices Ef0rts 20 carry prices upward we're de-
sts-ee from and the market left 70 take care OF
i-eelf re i large extent This was not without
IS effect on the tone which became intensely
Gli1 and rather soggy. The speculation showed
fi!e vrlt n the customary stimulant which has
heen administered nj short intervals. sometimes
bF an acTual new occurrence. AID when this was
lfrkiuE ar aitCent rumOrs Of expected develop
meuts which proved even more effective than the
eetual occurrences There was disposition 70
swat the outcoue OF some OF these rumOrs. AS
se-ti.rs have grown very positive that this
weeks meetings of the authorities OF the F8arri-
msn pseihcs VIII take definite action toward
tie placing n the Southern Pacific on the oiTi-
ccnd llst and Tor the increase OF the Union Pa
ri1c dividend Expectation Is almost equally
VI icnned of an announcement Of ST. Paul
n IS shis week The expectations have been so
6ftsG disappointed in the past that spirit OF
caurion and Of some degree Of skepticism has
grown mp and was reflected IN today's oper-
rke failure 10 act By the Canadian Pacific direc-
rors yesterday on the supposed plan TO distribute
sales ot the company's land holdings. That
stock weak 10 consequence IN spite OF the
ssatemeot showing extraordinary favorable re
suits from the years operations The surplus
reported for the year after the paying Of the
dividend was 50 25S. 0S2. compared With Sl.IS4.-
a53. But holders Of the stock apparently did
not feel compensated BY this showing for their
disappointment OF the expected extra disburse-
ment similar effect on sentiment pro
luced by the conservative tone on the question
of increased dividends in the public utterances
~ JemeE J. Hiu Of the Great Northern. There
was comment also upon tone OF seeming lerity
iu the quoted references by that gentleman 70
the persistent rumOrs OF the oregon lands deal.
II is O. he said Of the market. however. that
in spite of the withdrawal Of active Efforts
toward lifting prices there little evidence OF
damaging pressure 70 sell supporting orders
offered on an early decline and when
these were made effective the market pracu-
cally became q drifting match, Win the tradlng
almost completely idle at times Yesterday 5
reports Of gold enga gements were the subject OF
some confusion owing 70 the failure 70 identify
tie Institutions in New York which had made
the engagement. Foreign exchange authorities
pr0feesed 70 see only q loss in the reported en-
gagement under yesterdays condition Foreign
exchange advanced today, and hardening ef-
York's demand for gold in continued eTi-
dence. Sterling exchange at Paris. however,
advanced again. and reports from that center
were 20 the effect that loans were being Sc
indicate that apprehension IN Paris over the Rus
sian outlook had FAR subsided as 70 permit a
relaxation Of the hold uDon money resources.
The weekly bulletin of the weather bureau con-
renence. OF the Improvement OF conditions OF the
crop reported in fhe Government monthly state
ment. The special strength OF the winter
wheat and corn carriers was attributed TO the
high crop conditions The recommendation OF the
executive committee Of the Consolidated Gas
Company 20 maintain the present dividend rate,
although IL would seem 70 relieve fear which
caused recent weakness IN that stock, was
greeted with a decline. The call money market
was little changed. but asking rates for time
loans FOR sixty and ninety days were raised 10
rer cent and for I've and six months to per
cent. Prices went 10 the lowest In the last
hour and then recovered 70 the best Of the day,
Bonds were irregular. Total sales. par value.
United states bonds were all unchanged on
cali.