The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-11-07
STOCKS AND BONDS.
strength Reenined After weakness
Following Bank Statement.

Following Bank Statement.
New York. Nov e-The course Of the
stock market to-day effectualiy dissipated
the symptoms of weakness which were
engendered by the Saturday bank state
ment. The course of prices was down
ward in the early dealings, but practically
all the declines were recovered and some
striking net gains were established in
considerable list of stocks.
The downward course proceeded to tho
extent Of ! to points in number of the
prominent industrals ana reached as much
as a point in number of the railroads,
including examples from the grangers.
southwesterns, southerns, coaiers AMI
trunk lines. Northwestern dropped at che
time 2ia In the leading lndustrials level
Of prices was subsequently established,
reaching generally a point above Satur4
day. The railroad group was not so resi-
lient, but its downward course Of the mora
ing was very generally retraced and frac-
tionai net gains are the result. In South
ern Pacific the recent large and organized
buying was resumed after the decline hal
reached q and II advanced ia aud
closed there. The speculation In Leather
continued on an enormous scale the pr ces
being raised on running scales Of s0t0)
shares at the opening from "a below
the loss Of Saturday was more than re-
covered and the price lifted TO within
shade OF II. There was a heavy realizing
in the stock in the late dealings, but 1t
was firmly supported at 40.
The renewed support by the speculative
pool in Leather had no small influence In
dssipating the fears of general break
in prices. There were many soothing ex-
plantations offered of the exhibit Of a de-
felt in surplus reserves by Saturdays
bank statement The favorite explanation
among SPECTATORS was that II was due 10
an terror" in the return of a single bank,
or rather to the rectihcation of an error
made in the previous weeks return. IL
was this error, so 1t was said which has
caused the unduly favorable statement OF
Oct rs, and the allowance for ii which
made the showing Of the deficit of last
Saturday and upset the stock market
The comfort found in this explanation was
somewhat disturbed by the rise in the
call money rate to 70 per cent, and the
calling of loans by the banks
But the conviction became general that
Saturdays bank statement was not fair
index of the actual condition of the banks.
The continued hardness OF New York ex-
change at important points aroused ex-
pectations that The movement of money is
about to turn In favor of New York. The
short contracts which were put out IN
the morning, we're very generally covered
before the close. j ne eve OF tDt eAtCilOHH
was also the occasion for the covering of
some short contracts which had been put
out on the theory that this years election
might be the prelude to the unsettled bus
mess conditions which are looked for in
presidential year.
The drop in the money rate TO per cent.
late in the day accumulated the buying de-
mand for stocks. An incident of the day
was a sale of United States Milling at y,
compared with "a for the last preceding
sale, some time since.
Prices OF bonds only partly recovered
from the early decline, in sympathy with
stocks Total sales, par value, S2,05.O00.
United States old As, coupon, advanced
Y In the bid price.
The total sales of stocks were $1,000
shares, including Atchison preferred, 7l5O;
Burlington, 1880; Colorado Southern. $500;
Louisville and Nashville. $500; Manhattan.
AO31; Reading, first preferred, $3.50.
Southern Pacific. Go no; Southern Railway.
6,770; Southern Railway preferred, $3.50;
American Steel and Wire, 11.610: American
Tobacco. $3.50; Brooklyn Transit, 1850;
Continental Tobacco, $40; Federal Steel,
1878: Pacific Mail. $3.50: Sugar, 1880;
United States Leather, 1ss.1s7: United
States Leather preferred. 1851.
New York Stock List.
Atchison ........ 22ks So Ry. pref -. $751;
Atchison pref D.. 6s7s Tex. & Pacific 10
b. & Ohio ..... 52h Union Pacific =. 47&
Can. Pacific 49,. IS U. Pac. pref -. 767s
Can. Southern So Wabash .......... sss
c. & Ohio 49,. Is Wabash pref -. 1914
Chi G. W. ..... 141z W. e. l.. z. =. 11A
c., 3. g. @. ...1S29sW & l.. Z. I'd
Chi, |. & L. -. TIA pref ............ 30Ts
c., l. & L. pref. 1917 Wis. Central -. 2oA
| C. & L. Ill. ... 95hlAdams Elk. lis
| Chi g. Nv. .....16a Am. Express ...4s
| Chi r. l. & PIX United States .. 50
C.C.C. e. ST. L.. co.'s Wells Fargo ...130
Col. Southern =. 6AlAm. Cotton OIL As
Col. So. LIST pref 472al a. c. o. pref ... IS
Col. SO. I'd pref. 1874 Am. Mating 49,. 12k
Del. & Hudson 12lz4 Am. Malt. pref 45ik
Del. i. & w. 100 Am. Sm & Ref. 81
d. & r. G. -. 2liAlA s. e. r. pref. S7iL
y s. r. G. pref. 757s Am. Spirits 49,. Az
Erie ............. 13lslAm. Spirits pref. II
Erie LIST pref e. 1874 Am. Steel Hoop. 42ls
CT. Nor pref -. 1854 Am. S. II. pref s2A
Ct Nor. pref ..l73i5A. s. g. w ~. AZ
Hook. Coal ..... 19}llA. s. & w. pref 9sif
Hook. Valley -. 32lalA Tin Plate . 81
III. Central =. HOGAN. r. r. pref. 50
Ia T-,1