The San Francisco call., 1906-05-18
New .York stotk Mark.t

NEW YORK, May 1.-THE p-ofessto,,aI
M M = ions or ne current stock market
scuon or the market. Varying ffuct,la-
tons over narrowing range and conse-
Len encouragement OF any participa-
on OUTSIDE OF the most persistent pro-
r essio1al operators were the charac cfer
Eucs of Ttle trading The early deaIfnr-s
MADE a show Of considerable antmation
ana carried an impression Of a continu-
snce OF the brisk advancing tendencv Of
The latter part Of yesterday The adroff-
ness OF the display OF strength pointed TO
skilIul and veteran market nanagemenf
But II was not so successful as 10 rre
vent the fact emerging with glarinR dis
ulctness N short time that stocks
Wllch were conspicuous for strength YES
rerday was being diligently sed INTO the
MARKER Ior the purpose OF realizing profits
Wnlle the new points OF strength were
susIalnlng prices by sympathy and en-
coeraglng the purchase by new specu-
awe elements OF the stocks which were
llrteo 70 higher prices IN yesterdays deal
-ilsS. -nese stocks included most of those
Htlen are supposed TO be the favorite
medium 1or operations by the so-cailed
sl:anoard Oh party. Their advance yes
tercay was due 70 the influence Of rba
Anaconda annual report and the eY
pecteo statement by Standard on ofncials
~ reply 10 the arIaignment OF the COM
pany by the Commissioner of Corpora
tons. The professional element adopted
the influence that this powerful GROUP OF
capitalists was embarked on campaign
for rise in prices. When II became evt-
sold 10 take profits. professional senti-
hehl was thrown INTO a Quandary again
as 70 rile attitude OF the Standard OIL
party; Lacking light on this important
question, the professional element was
not much impressed with other news de-
velopments OF the day.
fned 70 the group Of anthracite coalers
on the assumption that great BENEFITS
were 70 accrue from the labor settlement
-or term OF three years TO come Very
ERRc taculaT advances were scored In the
Esgh-price6 members Of this group. The
Pennsylvania group was subject to posi-
I've oppression which. was ra ther clearly
traceabie 70 the disclosure ELECTED by the
inquiry into the soft coal carriers and by
g. report that President Cassatt conter-
llaleo retlrerneIt More serious atten-
-rrency oUtgo TO San Francisco. Today's
szansfers 70 that point through the sub
days explanation OF q special trans
action lost It's. force OF reinsurance to-
day The movement is said 70 be likely
% reach considerable proportions again IN
banking IN San Francisco and also II is
oeieVed, by remittances OF some OF the
insurance companies with the expiration
o1 the 3g-cay period after the losses The
suo-tredssr'y accounting shows a heavy
loss by the banks on the weeks oT7era-
uons, but as this is on account OF the
against gold engagements and is made
Eooo-bX- the receipt by. the banks Of the
-l--O-Illls god from abroad. the real DO
siuon OF the banks Is not affected. Local
money rates were not affected by the
renewal OF the movement TO San Fran
cisco, Foreign exchange rates were In
clined 10 advance. thus Offering no sug-
gesuon OF resumption OF the gold I'm
port movement Crop damage reports a Z
fecued the wheat market and may have
contributed 10 the unsettlement OF stocks.
u ne Sagglng movement was as irregular
IS yestercay'S hardening movement but
taere was a general yielding at the last
and the closing tone was weak
Bonds were Irregular. Total seles (par
Value) $500 900. United States bonds
were unchanged on call