The San Francisco call., 1906-09-28
New York Stock Marker.

NEW YORK Sent 27-The currents of tte
stock market shifted as constantly today as
70 undergo the same vacillaticns during the day
mere was an appreciable expansion in the
tnations were much wider than Yesterday The
enectlFe Efforts on the side Of higher prices
the alarmiSr rumors regarding the extent Of
the harm done by the storm in the southern
covery after IL was learned how far the early
runners were exaggerated. AS these rumors
pointed 10 the annihilation OF the city OF New
orleans ana almost repetition OF the san
Francisco calamity. the effect on prices OF stocks
was natural when the results following the San
francisco catastrophe were remembered The
more sober consideration Of the news from the
south detracte0 from its sensa ti0nal features
but provided some grounds for msgiyings over
the effect on the cotton crop. Reports Of with
holdlEg OF spot cotton from Southern markets
indicated disposition TO pause and take stock
Of the situation before taking definite steps
The advance In prices which was interrupted
by the storm news largely in sympathy
that Las becoine bisblv cbsrec4erfstic 81 that
stock and diminishing effect on general specu-
lative sentiment There some subsistence
Of political discussion with fbe adiournment Of
the New York party conventions until late In
the day. The late bear drive against the
market was accompanied with many profes-
sions OF anxiety over the possible disturbing
effects upon business confidence Of actiYe
campaign waged along the lines indicated by
Inc political outlook Fears OF pinch IN the
money market also PLAYED part In the pres
sure on the market. Great diligence is exer-
clSeo In studying up details of Requirement Is
10 be met in October and mention Of anything
thst has escaped general attention IS Of in
nuence In aggraTating fears Of stringeney. Pie
large municipal tax payments 70 be madeG IN
New York next week such item
brought forward today. The largest require
ments 70 be met. whic. are on October J. are
expected 70 he Of temporary effect and Of a
kind 20 ind their way back at an early date
into the channels Of the money market. 1T Is
pointed out, however. that large aturiffes OF
time loans occur during October, especially in
the form Of finance bills placed with foreigners
and the open discrimination lately exercised by
foreign money lenders against American Dor
rowers. raised The possibility Of difficulties TO
be met IN renewing these bills in case OF
need There were reports Of further gold en-
gagements current today. but no actual engage
nent was announced until after the stock mar
ket closed, when a s.. 500. 600 engagement was
reported. A good impression produced by
the Bank Of England authorities refrainng
from advancing its official discount rate but
The weekly statement shows material weak
ness both by loss OF bullion and increase of
loans. the proportion Of liability
falling from 41.56 per cent last week 10 ~ 50
this week. The Bank Of France also showed
= loss OF S3-ss35. 600 IN gold and expansion
Of S2O. coo 0O6 in outstanding loans. The sterling
exchange rate NJ Paris declined I'm cOns0nance
with this showing. The tone OF tie call money
market was hard. but showed no disturbance.
The considerable rally at the last was due 10
was evidence Of the professional character OF
much Of the selling.
Bonds were irregular. Total sales (par value)
81 IT'S. 600.
United States bonds were unchanged on call.
New York stock List
E. +. Hutton & Co. 400 California street.
members OF the New York Stock Exchange fur.
nish the following list Of bond and stock sales
yesterday.