The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-11-03
STOCKS AND BONDS.
Net Gains Made, But General List
Developed Little Activity.

Net Gains Made, but General List
Developed Little Activity.
New York. Nov. 2.-The stock market
took on a show of great animation and
strength to-day, and some very striking
net gains resulted. The general list, how
ever, though higher in price at the close,
developed little activity. The operations
which totaled 95O2OO shares sold, We're
largely confined to the professional ele-
ment The upward movement was obvi-
ous,y based on the notably easier tone of
the money market.
The largest operations were by powerful
pools and strong financial interests, which
have at command money resources OUT
side the usual money market circles. The
prevailing opinion in Wall street is that
prices of stocks would move upward easi-
ly if the obstacle of stringent money were
removed. The large outstanding short IN
terest in stocks has been palpably I'M
easy for some time past, and any indica-
ton of relaxation in the tightness of money
makes them inclined to cover their short
contracts. The professional pool opera
tions in a number of prominent stocks to-
day were obviously directed against the
bear contingent, and with good success
It is probable however, that the large
buying of other points is based on ex-
pectaton of a rise in prices on account of
a growing public interest in stocks. 1t is
the period of the year in which, under
normal circumstances the extra uses for
money in the moving of The crops begins
TO show diminuuon, releasing large funds
for employment in stock speculation. Elk
pert opinion however, is by no means
unanimous that funds viii be released
in the usual volume this fan, owing to the
marvellous business expansion Outside
.FfIrr a1G
movement in the railroads centered in the
Southwestern group The special strength
and activity in Southern Pacific helped
the Southwestern, and was based on cur
rent rumors of readjustment of control
The beiated movement in cotton was a
factor of strength among both Southern
and Southwestern Railroads. There We're
special movements besides in Cleveland
Cincinnati, Chicago and St. Louis and
Chesapeake and Ohio and some demand
for the coalerS.
The upward movement in the iron and
steel stocks encountered difficulties, as did
that in Brooklyn Transit Specula ton in
Leather continued on an enormous scale
that stock rising an extreme 31a. Sugar
was also very prominent, and rose at one
time points. There were notable move
ments in Standard Rope, Peoples Gas and
Manhattan. The extent of the advance
invited heavy realizing, especially during
ltiG I1Sl lOuIs anu SOIlt SApChS bIiOWtu
reactions of between ! and points from
the highest. The general tendency was
yielding, In spite of a fresh advance in
Southern Pacific to 4l94 and in Chesa-
peake and Ohio to 20. The upward i'm
petus at the opening was caused by high
er quotations from London and the ef
feet was exaggerated by the circulation of
a canard alleging a disastrous defeat Of
the Beers at Ladysmith. Manipulation for
the rise was very apparent all day.
The bond market was active and strong,
the demand being very well distributed
Total sales par value, SO .395 900.
United State old As advanced u and the
3s, new As and IS u in the bid price.
The total sales of stocks were go 200,
including Atchison, II 776; Atchison pre-
ferred, 1920; Chesapeake and Ohio, 1880;
Chicago Great Western, $3.50; Burlington,
5000; Cleveland, Cincinnati. Chicago and
ST Louis, y .S35; Kansas City, Piftsburg
and Gulf, 6.271; Louisville aud Nas& vile
100; Manhattan, 26,l35; Missouri Pacific,
80 $50; Missouri Kansas and Texas pre-
ferred. S65; New Jersey Central, 800:
Norfolk and Western, 1890; Ontario and
Western, $500; Pennsylvania, ey-dividend
1920; Reading first preferred, 49,
1873; Reading second preferred, $500;
Southern Pacific, 1850; Southern
Railway, $500; Southern Railway prefer
red, 779S; Union Pacific. 14.0l0; Union Pa
cihc preferred, 5000; Wisconsin Central
11,19s; American Steel and Wire. $3.50;
American Tobacco 6400; PrOoklyn Rapid
Transit. $3.50; Colorado Fuel and Iron
Sf75; Continental Tobacco, 12S25; Federal
slice. 1850. Federal steel preferred. 500
North American $500; Peoples Gas IL
$780, STANDARD Rope and Irvine. S0,Ss4; SUI
gar 122 $50; United States Leather, 1O9 475;
United States Leather preferred, 19, 925.
New York Stock List.
Atchison -. d. % So Ry prf 80. 57N
Atch. prf go. e7iklr. & Pa. ...... 1888