The San Francisco call., 1907-06-08
vcw York stork Market

NEW YORK. June An active absorption OF
stocks on q rising scale today was brought al
most TO a standsfni by the Unexpectedly heavy
errRgemenfs of gold Tor export 10 Paris tonOr-
row Conditions IN the exchange market had
1renared expectation Tor an additional shipment
tomorrow. but so large a sum as S5,oOo-o0o was
q surprise The movement was tne more IN
presslTe by reason Of the failure OF the foreign
exchange market 10 show any effect as Is usual
On account Of the custom of selling exchange
bills against gold shipments when they are
made. The rates today. however, were nrmly
maintained and d evident that me ontWAru
movement OF gold was 10 extend over into @ next
week Tie Paris market stands under ob4iga-
fion FOR New York FOR 600 on subscriptions
10 New Haven notes which mature next week
out this obligation seems TO have no erect IN
checking the 6ow of gold from New York 10
Paris TOday's So .GO0. 600 engagements VIII not
figure in tomorrov's b3uk statement Neferthe-
less the subtreasury absorption from the money
market up 10 Thursday night. principally on ac-
count OF gold withdrawn for export. amounted to
fe1t bv the balance IN favor of New York In
The currency movement with the interior, tnat
balance having fallen considerably below the
figures for several weeks past. Inls course OF
currency was not effective On rates Tor call loans
today the tone IN that department OF the money
foday also OF a s3 100000 instaIlment Of sub
scriprion on Great Northern preferred new STOCK
This heavy drainage of cash reserve while SO
many eager requirements for new capital pur-
poses remain Uusst tished IS regarded as some
shing OF an anomaly and has an effect on specu-
latfve sentiment in spite OF the absence OF eject
Smnediatelv in the money quotations. Reports
of low condition estimates in the winter wheat
aud Kentucky served to shake 70 some extent
'7he confidence that has been felt that Monday S
Government report would show marked improve
lnent over the previous monthly estimate.
A feature OF the day was the number OF ru-
inors Of new railroad relations which came into
circulation Apparently the plans for the trans
fer Of the control OF the Boston and Maine 10
fhe New York New Haven and Hartford gave
the impetus 10 these rumOrs- Many of them
oentered about q supposed transfer OF control
= Delaware and Hudson. but none OF them
received any ofhcial sanction The coalers were
an helped by the evidence OF prosperous condi-
lions IN that frsde- Included in the showing
was the huge increase fn the tonnage OF the May
shipments over those OF May OF last year. Resd-
.Sncss prom inence in the days advance partly
cue 70 this and was increased by rumors Of a
proposed increase in the dividend rate. also
without official sanction. The check 20 activity
which followed the gold export engagements re-
suited in only slight concessions in prices. and
they were lifted 10 the highest level again late
IN the dav- The close fairly steady
Bonds were firm. Total sales. par value,
fSSaG. .OOo- United States bonds unchanged
ON cell
Kew York StOrk List
f. +. Hutton g. Co.. 30 California street,
members of the New York stock exchange, fur
nish the following list or bond and stock sales
yesterday: