The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-01-20
PAGES 9 TO 10.

versed her position and purchased about
81 600 shares. Following the example OF
the Imperial Bank of Germany, the Bank
of England reduced its rate of discount
a continuance of easy money conditions
here was another factor in the confidence
shown to-day The Changers made new
high record prices for the current move
ment and the average price of activity
shares was also the highest The strong
London tone encouraged a high opening
here, and there was a large accumuia-
ton of buying orders over night, the short
interest was compelled TO retreat in many
stocks. There was heavy realizing at the
advance, but the stocks sold were wen
taken, and che market broadened out,
The greatest activity and strength was
shown by Manhattan. Burlington, st. Paul,
Sugar, Atchson preferred, Reading first
preferred, and Northern and Union Pa
chcs The advance in Sugar was credited
60 rounding up of the shorts. The adj
vance IN Burlington seemed to be accepted
as meaning that something was under
consideration in regard to a refunding
scheme. although negotiations under way
were said to apply to the issue of only
small amount of bonds. The interests con-
cerned were non-committal and there was
no definite development one way or the
other.
The advance In Manhattan was accom-
panied by story connecting the name OF
a large outside interest as likely to take
part in the financing of electrically equip
ping the road, but the denials of this we're
emphatic as hitherto.
The increase in the Omaha dividend OF
1la per cent. seemed TO have been discount
ed, as the stock was Inactive after the an
nouncement. and then dipped in sympathy
with the realizing move ment in the rest
of the market. Favorable earnings for The
second week IN January lent strength TO
Louisville.
Lake Erie and Western stocks advanced
on covering by the short interests. The
preferred advanced SO, and the common
2sA on the dissemination of rumors of a
deal with the Cincinnati Cleveland, Chi
Gag and ST, Louis. The rumor of the pros
peC'iVe retirement Of the Minneapolis. st.
Louis first preferred stock resulted in an
advance in the second preferred stock of
over 3 points. There was an advance IN
most Of the Gould properties some Of
which have been inactive of late, Manhat-
tan rising Az and Missouri Pacific points.
Among The investment stocks, New York
Central rose IL points There was con-
siderable liquidation in the Kansas. Pitts
burg and Gulf stocks and bends.
The bond market showed relatively more
activity than the stock speculation, mark
ed advances We're scored all around, with
the undertone nggressiVely strong. United
states IS registered advance u in the bid
price. ~
The total sales OF stocks were 1,070 800
shares. including 1880 Atchison, 5000
Atchison preferred. 1850 Central Pacific,
5C.C20 Chicago, Burlington and Quincy g. 10
Illinois Central. $3.50 Louisville and Nash
vile, 1880 Manhattan, $4,000 Reading first
preferred 1900 Missouri Pacific, 1890 New
York Central. 1900 North American Com
pany, 53,400 Northern Pacific, 1900 North
crn Pacific preferred 7720 Reading 40,s20
Rock Island. %. $50 Union Pacific, 81 $50 81.
Paul S452 ST. Paul and Omaha, 9i70
Southern Pacific, 49, go Southern Railroad.
1880 Southern Railroad preferred, 1905
Union Pacific preferred 10000 American
Cotton Oil. $3.50 Bay State Gas, S,202 Amer
lean Tobacco. 1880 Federal Steel. $500
Federal Steel preferred, II 800 Peoples Gas,
23.100 Brooklyn Transit, $500 Sugar, 3D.
220 Tennessee Coal and Iron, $500 Leather
preferred, 1885 Rubber, 6.S25 Chicago Great
Western.