The San Francisco call., 1907-01-19
New York stock Market

NEW YORK Jan 1s-Clouds Of depression
gathered over the stock market today ano me
weakness. which has been spotty and inter
mitient hitherto. became general and acute
This was q result rather Of q capitalization or
sentiment on current topics of discussion than
of present factor IN the situation MofeoNet
II became very evident that large activities
Htors on The bear side or the markei- Ihls
party showed every evidence OF skfllful organ
ization. and aggressive leadership ana there
was 3 general disposition 10 attribute rs gen
ersiebip 20 veteran operator whose activities
have been dormant fOr n considerable period 50
far a. public information has followed them.
The bold methods pursued by the newly or
Esnized party i shown by the widespread proc
ilamstion by il before the opening OF trading OF
1.-THE plans for the day. including special pres
sure be directed against United States Steel
and Union Pacific. II was explained. moreover,
directed against what seemed 10 be the Port
Arthur Of the market, with a view 10 securing
the key 70 the position. This hguratlFe eN-
PLANTATION IA based upon the comparative nrmness
with which those stocks have resisted the gen
eral weakness heretofore and the sympathetic
effect this had Ia sustaining the general mar
ket While professional short selling was clear
lr traceahle in the dav's market. the vulner-
shflirv OF values confirmed the views OF the
hears and proved the existence u conditions
on which they based the attack Instead Of en-
countering opposition or any effective support
for securities attacked, the fall in prices in
tensided the pressure Of the liquidation and
save much Of it the appearance OF urgency
which always gives currency 10 rumOrs OF
fnsncisl stress sbort the stock exchange.
The estimates OF the weeks currency move
ment emphasized tho growing ease OF the money
Eitustion, with indicated cash gain Of Sls.
200 600. but sentiment in the stock market Is
formed 20 the belief that the accumulation of
money resources at this time is 10 be for
, the benefit Of market speculation hut Il likely
n be spoken for as fast as available 10 take
OF the enormous issues OF new capital. The
terms which the capital Is 10 be or
fered for subscription viii assure an attraction
10 privileged subscribers. such stockholders.
ar least, which Is cslculs ted 60 Ourwe gh the
advantages offered by any OF the securities now
in the open market.
The course Of the fOreigt exchange market
so discourages hope Tor any effective relief
for om money necessities. Sterling exchange
strong here today.
Stocks enjoyed one good rally in the after
noon when shorts took profits and reduced tbeiI
lines but another determined drive against the
market dislodged heavy srop-lOss orders and
caused threa teninE slump IN 81. Paul The
HarrimEns, the Hills. Reading and Amalga-
mated Copper. The closing was. in consequence
much unsettled aud fevershly active
Bonds irregular. Total sales ipar valuel
81 900. United States bonds were unchanged
call.
New York stock List
r. r. Hutton Co. 40 California street
members OF The New York Stock Exchange
furnish the following list OF bond and stOel
sales yesterday
rrTf.-b ri - r,ra 4 =