The San Francisco call., 1906-11-16
New York stock Market

NEW YORK Nov l5-TOday's market was
dominated by varying fluctuations in 81. Paul
and these were so constant as 20 keep sentiment
upon the general market a good deal unsettled.
Sales 20 realize upon the wide advance of the
ness in St Paul to which the whole market re-
sponded- ana again when ST. Paul sup
an rapidly rising scale the whole market once
more turned strong. This was largely due to
The belief among professional operators that
they could read the course Of the Standard OIL
group Of capitalists in the operations in st.
Paul and % the eagerness 10 follow their lead
flsslp- tEe seneIal public was not largely N
evidence IN tie market and seemed too umid
ab9ul attempting 10 read the eFloence OF TINS
supposed leadership IN the speculation There
WIS news TO Indicate the causes of the st.
PaHl movement beyond the reiteration Of pre-
NloNs runors- The suppositon that subscription
rights 10 new stock were in view fOstered
hr the manner by which the rise in the preferred
stock kept pace with the common stock. all on
nofafHal dealings On the other hand the close
sympathy IN the movements OF St Paul and
Southern Pacific wss regarded as corroboratfve OF
s-rmises Of a closer relation with the Hartman
combination of railroad properties. The dealings
IN The general market were dulIer and the huc-
tHafions narrower than yesterday. owing 10 the
confusion caused BY the varying movements IN
the market leaders.
tive in the occasional heayiness OF the market
- the Inauguration Of the Governments prosecu-
rio1 against the Standard OIL Company. The
haI. sor,e 81 ,oS,ts F-or the re1als asx,s
price. following similar declines for several days
past. but the parcels Of shares dealt in were Of
a size which is not accorded an official quotation
change. Opinion WAS confident that conditions
IN the money market are working toward
greater ease. The weekly statement Of the
Bank OF England disclosed a degree Of reeuper-
alton which promised sufficient improvement in
time 10 meet the year-end drain. and less fears
were entertained Of a rise 10 per cent IN the
official discount rate before the year closes. The
s22 44s,ooo expansion In value Of our agrieul.
rural exports for October reflected the cost Of
fulfllment Of circulation Of heavy foreign
balances in our favor o. which were based the
large borrowings FROM foreign markets. ma
turing from time 70 time now. which means
thus assured TO facilitate their liquidation
The easier tone Of money was distinctly per
ceprfhle IN time money well IN the call
interior points continued 70 rise today. Interest
HttaeheE 70 the call By the New York superin-
tencent II banking for a statement Of the condi-
ton ~ State banks Of November "a for the
light 81 viii throw upon the condition OF the trust
companies I'm this city. This call has been ex-
pected by the trust companies. that OF
yesterday by the United States Comptroller for
p II was urged IN the stock market today that
greater freedom in extending credits may be
looked for now taat the period IS set to the re-
Quirement for window dressing in expectation
Of these calls.
The closing tone became unsettled and irregu-
lar again when 81. Paul lost ell but half Of its
rise.
Bonds were STEADY. Total sales. par value.
81 10000 United States twos declined 4 per
cent cail
New York stock List
F. p Hutton Co. $50 California street
members of the New York Stock Exchange. fur
nish the following list OF bono and stock sales
yesterday;