The San Francisco call., 1906-08-01
Now York stock Market.

NEW YORK. July 8I.-In periods when
prices showed q disposition 70 moye upward To-
fuence on TIE movement. While the rise was
rlus checked there was 20 urgent pressure and
tse leEe- w1s little disturbed. In spite OF the
decided decrease Ia the demand for stocks which
Is made clea- hy tie sirinEsCe fn The total
dealings Tor tie Gay During tie buying move
Ae-+l oI me ---st hour mere were advances OF
"a poinr or more In number 0f the trans
con. rs1-a. railroSd stocks, Pe1nsy ylvanis- Anal
Ea1N - copper ana Few stocks not OF the
lrst -lEqC-ance- Stocks came out the ad-
vance and some q the selling was attributed 10
the best account Ihe professional element ives
inclined T. take the short side on the ground
l-ar. the advance Lad run 70 some length aud
tuvlted rejection, especially as the outside de-
raaud which appeared yesterday after the week
ed interval was pronounced 70 be Insignificant.
j was after tfe rise q the first hour had halted
streRsrh, recoyeriue all az yesterdays heavy de
tille and sel-lsg az Tie high figure OF yesterday.
lue downward turn Of tie market yesterday
effect OK Tie break u Consolidated Gas follow
uelds or Brooklyn Gallon Gas The importance
attached 10 tle Incident was due 10 the assump-
llpl mat II represented q policy on the part 0f
t-e stallarl On party TnaI was likely 10 be
extended % other properties 20 meet the current
leilzrQH against corporation affairs and especial
- III tae case ot Consolidated Gas. owing 10 the
parallel circumstances OF that company with the
BROOKLYN company. The action OF r.e stock to-
day was regarded as refutatfor Of that sup-
position although no statement on the subject
was forthcoming from The executive committee
afJer their meeting today. The market showed
~ this cause = yesterdays uneasiness- Interest
beca-ne torpid and the price movements exceed
ihgfys suegisa- This was particularly true Of
TIE United States steel stocks. which were held
IN reserve apparently for leadership Of the latter
movement. lr is doubtful whether the quarterly
sta temenr II the net earnings Of the company
COZ med any notable surprises FOR those who
have beeR dealing actively IN the stocks. The
statement did not appear IN time 10 enable the
Information 70 be- used AZ first hand IN the
market operations o. the day. But the time
Tor The assembling Of the directors approached
l0lr transactions In United States Steel common
a-rezged the tape and ifs price carried
20 81. which the objective fQretOld by
'le speculative sponsors for the market move
elt. The weather bureaC's weekly crop bull
l-tin was nOn-comullttal usual but contained
-l-l-ug o. sAEke the present strong conviction
~ TIE excellent progress Of the crops. The
money market was not Affected by the monthly
~er-leneu-s- Hs-ic4 are not important for August.
l-t foreign exchange moved up another step
aud away lrom The gold import level The In
i-.uiina2orF condition reported from Russia was
NieADIt eject here, o.. So Far peTceptible.
abroad. where some confidence seemed 10 be
restored oyer the payments 10 be made tomorrow
GA subscriptions 70 the last Russian loan. The
late movement in United States steel carried
prices to the sigl level uf the FIRST hour OF
abgFe. gnl held them there TO d firm close.
BONDS were Irregular Total sales raar value
81. 200 o00- uitel States bonds were unchanged.
call