The San Francisco call., 1907-03-12
New Work stock Market

NrN YORK March Il-The action Of the
DAYS stock market served % ,,aro5 ~
liquidation had run It's course. Inis supposIlon
was already forming itself IN the sPeculatitse -
attitude toward the market last week owing 10
the obvious absorption going on al various polDts
in the stock list. while the most acute
weakness was perceptible at others.
The improvement in the market must be ser
down in large part 70 subsloehce OF Lne
pressure 10 sell more than 10 any isnge uIsent ~
demand for stock The decided olmlnuuoh III
the volume OF the market is an index OF Ids
fact. However. the demand was more than SUI
hcient o. overweight the greatly lesseneo seIllng
and n carry prices substantially and compue-
hensireiy upward No striking change IN con-
ditions was cited the occasion for the change
in the current of the price movement Dut me
extent of the declines already torceo, az Is
argued. 90 far toward readJustmeDI OF prices
10 = wide possible deterioration from present IN
dustrisl conditions. This contention is given
additional force by the continued absence OF any
sign Of the upward reaction IN the oineren,
trades The mercantile agencies report fuH
tide Of demand for all lines Of merchandise, with
business above last wears corresponding perloo
The country's bank cleGrings last week showed
= material expansion over both the recedine
week and the corresponding week Of last year
Railroad traffic officials continue 10 complain
Of lack Of cars TO move fruit which is onering
Etil In undiminisbed volume. AUTHORITIES ~
The steel trade insist that the demand Tor al
lines Of finished products continues at noodtide.
These conditions serve 70 keep IN check the
apprehension caused by the avowed purpose Of
the railroads 10 retrencb all possible ourays Tor
new improvements. The tone Of the call money
the weak showing Of the Saturday bank state
ment. The large cash loss shown BY the state
ment attributed 10 rectihcston of the
previous week Some special requirements for
stock and note subscriptions are 10 be met this
week New NOrk's bid for gold in London today
agan Ineffective except 70 cause frac-
ri0nal advance IN the price which the Bank Of
England obliged TO pay for gold. Sterling
exchange in Paris was again strong and IL WAS
reported that part OF the London supply OF gold
was made up of American eagles, presumably
received from Paris. Money and discounts re-
ceoed IN London. bur advanced in Berlin. Time
money strong here. wifh loans al per cent
FOR periods up 10 six months. The banks how
ever, are making large payments 10 the sub
treasury for retirement Of circulation II is
reported that the full So 600 quota Of the
monthly retirement allowed under the law
has been already applied for at Washington for
this month. The days extreme advances were
materially reduced by the profit taking Of the
final hour. but substantial net gains were left
The closing tone. however, was easy.
Bonds were irregular. Total sales. par value,
s. 100000
United States bonds were unchanged on call
New York Stock List
=. r. Hutton & Co., 49O California street
members OF the New York Stock Exchange
furnish the following list Of bond and stock
sales YESTERDAY: