The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1906-07-24
New York stock Market.

NEW YORK. July 23.-The stock market here
was slightly shaken by the Developments IN
Russia over Sunday. IN common with the worlds
securities markets But resistance was
~ Nl by the New YORK market and the ef-
ft--s had apparently passed in the course Of
hat an hour at which time the confident alb
surpfiun OF stocks had restored the level OF
prices 70 whore they left OF on Saturday. The
oeIefll llGtlOn Ut market organization 10 elect
az upward movement In prices manifested itself
airesA, and operations Of the same character
AS those which appeared IN the market Friday
and Saturday were resumed. There is no at
tempt 10 belirtle the gravity Of the situation
in Russia from a political standpoint but the
drift or events has been clearly fOreshadOwed
that IL IS believed that the financial and bank
ing world has acted wiki view 10 the develop
lneuts which have occurred The action OF
The foreign securities markets. however. seemed
10 threaten serious consequences for time 10
day The special effect IN the London market
is due 10 the coming due August / " an
installment Of subscriptions TO the last Rus
sian loan The heavy discount now ruling on the
SUBSCRIPTION price OF money IN that marker
points 10 severe losses the underwriting, and
the forced manner Of the liquidation points 10
a much smaller distribution OF the loan into
Investors hands than had been intimeted at
the time OF the Rotation fondon's necessities
induced consdf-s BE selling ~ securities IN this
market today Il also resulted IA strong
price 5nde6pi+eIr swar from The gold EXPORT
point The Bank Of England secured all the
newly received gold IN the London market but
# was remarked that New York put IN no
competitive bids for the supply. which Was
secured At a decline Of a penny an ounce from
TIE price recently prevailing. which NeW York
falu lHsL week II WIS inferred mat NcN loIA
bankers TINS scQuiesced iu the necessity OF the
London market getting additional supplies. The
Saturday bank statement with its showing Of
Sll 700. 900 cash increase may have in
fuence on its attitude though it remained
somewhat Of mystery where and how the cash
was Obts med. However. the immediate money
outlook Is thus decidedly cleared up. The spec
uiatiye leadership In the market evidently as
su-ned that security from pressure WIS assured
AZ any rate until she Withdrawals for the pur-
-2ose 0f movlng crops shall intervene The time
sgardcd. 0ppOrtune. in the professional
stcallators view. for an upturn In the prices.
snd they operated from that viewpoint today.
Tie conspicuous place 0f the transc0ntinental
stocks 81 the movement served 10 revive many
dormant rumors regarding developments in them,
one from London alleging a coming control OF
ST Paul In the interest Of the Union Pacific.
The market seemed unaffected by the death OF
one Of the weaithest capitalists in the coun-
try. the understanding being general that his az
fairs were arranged TO avoid pressure on
the stock market or any disturbance in the
money market. The market showed great
strength and activity on the recovery from
the low point 20 the highest, but, owing 10 the
depressed level AT the start and the profit taking
in the last hour Of the session, the net changes
from Saturdays prices were small and the
closing tone easy.
Total sales Of bonds (par value). 81 393, 900.
United States 2s advanced 4 on call.