The San Francisco call., 1906-04-10
New York stock Market.

NV YORK. April s-It was not until late
10 the trading that the lack OF relief from the
stringency IN the money market had any ap-
Ereciable effect on the tone Of the stock mar
ket. The break IN prices came in the last
half nOUr- hard Unyielding surface was pre-
scented up % that time IN spite OF the nlgh
rates for call money. The rate Of renewal by
The banks generally was 20 10 p per cent. al
though some loans were made al 70 per cent
Last weeks many rumors Of heavy gold en-
Eagenents for import 10 be secured today
SVentuareG IA & single engagement OF $lOUO,-
600. This proved so far short Of the specula-
live expectation that il gave rise 10 the sharp
est selling movement of the day The ac-
cumulaton OF selling orders over the end Of
zhe week proved 70 be light and the profes-
sionsl parties committed TO the rise showed no
sign OF being shaken in their position. The
small offerings during the early part OF the
DAY were well-absOrbeds ana while no dis
position was shown TO inaugurate an aggres-
siye advance, number Of leading stocks gave
evidence Of being supported. in Union Pa
cine the supervision OF the stock seemed de-
signed % hold Its rise. large oroers appearing
about l5C. while q rise IN the price 20 1861
brought out heavy selling, which was at
Lrlbuted 10 inside account The action OF this
STOCK was fairly representative OF the specula-
tive policy observed in the general market.
that Is 10 protect prices from damage while
awaiting ameliorstion OF the money situa-
uon- Except for the gold secured for import
nothing occurred 70 indicate any factor al work
teward relief in the money market Discounts
hardened abroad especially in London and
Berlin; the price OF gold was marked UP in
Paris ano Berlin 70 obstruct the movement OF
gold 70 New York. Foreign exchange, how
ever Was weak. The transfer on Saturday,
through the Sub Treasury, of 200 10 san
Francisco. marking the further homeward
course OF japanese funds brought the loss by
the banke 10 the Treasury for the new bank
week up 10 81 .220. 600 compared with a loss
for the same time last week Of S966. 900. The
Suh-TFeasury also had a credit at the Clearing
house this morning Of over half a million
dollars. The publication of lhe call from the
Comptroller of the Currency for the statement
Of condition OF national banks of April 6
was regarded as removing one OF the causes
which may have restricted the operation Of
national banks in the desire TO be prepared
for favorable showing in response TO this
call. Part OF the interior demand for cash
which has helped 10 oeplete cash reserves has
been thought 10 be prompted by the prepsra-
yi0n fer the Comptroiler's call Reports from
y lrOad officials conceded some effect TO have
zen produced on traffic BY the cessation Of
coal production and a resulting attitude Of
reserve in some lines Of manufacture. The ad-
journnent OF the anthracite coal conference
left the day without any important develop
meut in that matter. Tomorrow 8 Government
crop estimate is awaited with interest.
affOrding the first official percentage basis on
which 70 form estimate of the winter wheat
crop. The unpromising outlook for money
lief as much the actual stringency, seemed
TO prompt the liquidation developed in the last
half hour Of the trading. Practically all OF
the days losses were made In that time, and
the closing was weak.
Bonds were heavy. Total sales (par value),
United states Is and old Is declined X and
the new IS 4 per cent call.