The San Francisco call., 1906-05-23
wew York etocl Market.

oSEw YORK. May $50 profoundly
s7athstic vas the trading in the stocl,
lsar.zet today that there was little room
left fer any bat negative deduotio1s.
-rss tbs formation OF speculative Eengi-
-lt awaits Al Initiative from new
Jee hesitation II forming conviction on
fhe cE-GTe q tfs market r11st, OF co-raa
% BASED o, so-ne invertebrates q tho
olfoo1-a CT cTsSte The problem OF the
far money rrnrEs,s coas:-uc 10 be most
eonaide-sf. and tbs day 70 DAY cventa IN
h al strs9t at present offer little assist
aaoe - forming - opinion, The reopen
las % the sdG Francisco banks for
f6Esss is expected tomorrow and with
caaEng resumed there f Is expected that
early Light VIII be thrown on the ez-
tent 10 which this large cash reinforce
ne1tz ss1t fhere for uze q the nrut
strain 81 tbs bd1ES' VIII have &c be re-
ta ssd. There were turtle. re-7ittancca
- San Francisco through tie SzbtTeas-
GsT today IN continuation OF yesterdays
caneiosrsoie movement. Il iE assumed
s@nnt @ tasSe lnter oonsigDzaelt= ere due -
per 10 rcfattfances 1oT account OF IN
scrsrcs companies 81 preparation Tor the
payment o. claims upon them FOR l-o
lossez rather Than for purely banking ne
oeSsitiea. Tho stro-Sta OF tho San Fran
c.eco banks md confidence IN the posi-
Elc2 is inferred from tho fact that they
EaFc not ETallod Themselves of the olrer
o1 Lae Uaitcd States Treasury Deport-
-ssnt % place or deposit with them s15.-
eoo. eeo q Government funds % surcuE CHEN
thalr position. With their ability 70 meet
claims OF dePoeitoTz promptly Demon
HtTcicC return 70 New York of some
q tho cash forwarded % Gaz Fraac-ecc
= c1Pocted- Tho E-oaoy outlook ccrocC
e-e=2s not entirely clear either. London
on4 Pc-.e markets both were lethcrSic
-oc1- or prospects OF right money, sl-
g n o1G1 the Berlin market wns cheerful Il
me nope that the German Imperial Bank
= =. I--.g -cUuCC "a 0r1rfGl ffsrOrr-~r g -
s-i7.ToT. Aoney brokers reported some
..-.-nct.cn IN the supply OF funds offer
ms on time IN this market and rates for
- longer period were firm. Tho
TNellly bulletin OF crop conditions issued
n nc " Gather Bureau with Its chow
s.s q insufficient moisture II tie win
- wheat region OF tne Southwest was
not nc-oiul 70 stocks, although the wheat
market was inclined 70 react from its
recent strong advances on immediate re-
peru o. showers today. The price OF cop
DeT = London made a recovery from
yesterdays sharp break, but without
Saesping the copper group in This mar
kct The one incident OF interest IN
high priced ooaIers. Laekawanna added
10 points 70 its record price and sold al
$3.50, thus measurably reducing the
requisite distance necessary 70 the fulfill
slSnt of The speculative prediction Of
$1,000 fo- this stock with which the
movement In the groups is asserted in
public estimation. Reports were current,
a. ri -f ca "a al AA4LEAklOLA Oh TIE part
these companies 70 divest themselves OF
ownership Of coal mining properties 20
comply with the tendency Of recent fu-
ElCla- decisions and OF the shaping Of
legislation. This would involve. il was
inferred distribution Of these assets TO
etockholcers- Il was pointed out also that
the rise IN these STOCKS made an addi-
uonal attraction for convertible bonds Of
some OF the companies which are now
il the market The stiffness Of the coal
eT5 served only partly 10 sustain the
market against the drop Of prices in
eTftabte IN q market svnere the buying
Is torpid Prices gave way rather gener-
easy.
Bonds were irregular. Total sales (pa-
vaiue). s. SEQ. 600.
United States new 4s declined I per
cent on call.