The San Francisco call., 1906-12-27
New York Stock Market

NEW YORK, Dec. 26.-The financial markets
were almost bare Of incident today and the
trading IN stocks was intensely dull. The ag
gregate sales for the day fell TO a smaller
figure than in many weeks past. The London
stock market did not resume business. as its
deprived the local market of important sup
ply OF business: A part OF the american &C
monthly adjustment going on there. and New
York feels an interest in the termination Of
ne settlement and also In the action Of the
Bank of England authorities at their regular
meeting tomorrow on the question Of changing
the discount rate. Their action is believed
still to be dependent on New York keeping
hands OF the London gold holdings Sterling
exchange made a further decline today and a
FOR shipment to New York. but New York
Of this opportunity and the opinion persisted
that the ulterior consequences which would
how from such action made il expedient. Prices
were inclined 70 advance in the early dealings
IN stocks here. The market was free from any
urgent pressure of liquidation and there was
prices IN rising direction. The money market
also appeared tranquil during the early hours
From Z per cent the rate ran of TO per
cent and 1t was only later In the day that
10 be met by the money market 10 effect jan
uery settlements undoubtedly had a restraining
effect on market activity. The total OF these
requirements run from $150 000, 600 to $780,
000 according TO estimates resulting from
q canvass by various authorities II is not
expected thar this drain VIII be met without
q iurry in the money market and operators in
stock apparently prefer TO stand aside until the
re6ux of these funds TO the market begins 10
make itself manifest The presence OF Secre-
tsry Shaw in town had the inevitable effect OF
causing talk Of renewed benefit to the money
market by the Treasury Department. but this
received no official sanction. The subtreasury
has commenced 10 draw on the cash reserves
Of the banks again. the effect OF the treasury
relief measures being exhausted. There was
9 premium on New York exchanges at Chicago,
and return flow of currency from the in
terror is expected to set in The stock sub
scrfption rights TO stock given recently
were affected by the suit of the Minnesota
authorities TO enjoin the issue Of Great
Northern stocks. The two Hill stocks showed
depression throughout. and their growing weak
ness had an increasing sympathetic effect on
the whole list. II has been asserted that the
hasty method which followed the issue OF st.
Paul stock had in view the avoiding OF threat
ened procedure OF this kind The early strength
showed principally in those stocks in which
recent sharp declines would have served to
build I'd short interest. There was some
buying OF Amalgsmat ted Copper induced by the
advance IN the dividend rate on Anaconda The
break 10 the Eill stocks and the rise In call
money weakened the whole market. but there
wae a final rally and strong closing.
Bonds were irregular. Total sales (par value),
81. $4,000.
United States bonds were unchanged on CALL
New York Stock List
E. F. Hutton & Co. 40 California street
members of the New York Stock Exchange.
furnish the following list Of bond and stock
sales yesterday