The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-07-27
STOCKS AND BONDS.
Speculation Comes to n Halt Between
Two Roads.

New York, July 26.-The waiting at
t!tude of the stock market was emphasized
to-day. Both buyers and sellers were
scarce, and the market was nearly stag
nant, as shown by the long intervals dur
ing which the ticket was motionless. The
professional traders had discouraeiHg
task in their attempts to get sufficient va
Ration in prices to make their trades.
The market was equally reluctant TO
follow the lead of the few stocks which
showed any strength, or to respond to the
exceptional weakness in one or two cases.
Sugar, Tobacco and Brooklyn Rapid
Transit formed the center of the rather
feeble attempt of the bulls to advance
prices. The latter stock was lifted at
one time over points. Reports were cir
culated that the statement of the earn
ings for the fiscal year will prove better
than has been expected. The high price
was very poorly held, and in fact was
entirely lost, though a slight rally saved
a net gain. Baltimore and Ohio was
the most prominent sufferer from selling,
and was traded in two points lower than
yesterday. Doubt was cast upon the
promised dividend for the half-year by
current rumorS.
A semi-official announcement given out
late in the day, that haIf-yearly divi-
dend of 2 per cent. would be declared in
August, caused the recovery of less than
half of the loss. Missouri Pacific was
also notably weak on the practical aban-
donment Of recently encouraged hopes of
dividend. The decline in the Wabash
net earnings for June. following that
of the Southern Railway. reported yes
terday and arousing apprehension of other
decreases to come was pressing intlu-
ence. The steel stocks were quiet and
irregular, pending the conference of steel
interests in Chicago and their under
tone was heavy under the threatening at
titude reported to have been assumed,
by the most powerful interests in the
trade. The advances in ocean freight
rates, owing to withdrawal OF various
German steamships for the transport SER
vice to China, was an unfavorable influ-
ence Indirectly upon the steel group, as
the scarcity of ocean freight room Is
hampering the export prospects in the pig
iron trade. Metropolitan Street Railway
was sharply depressed with no explanl-
ton, and the loss in Delaware and Hud-
son was due to labor troubles in its
mines.
Sterling exchange advanced an addition
al fraction, and the tone was reported
strong. Exchange bankers say the rate
has not yet advanced to "a point that Of
fers a profit on exports of gold to Lon
DON
Both London and Berlin are reported to
be large sellers of high grade American
railroad bonds; but the operations are
evidently conducted through other than
stock exchange channels as there are no
large transactions made there, and prices
are little changed. The selling of high
grade bonds by foreign holders with the
Offering in this market of foreign gov
eminent and municipal bonds goes to ex-
plain how the country's enormous bal
ance on merchandise account Is being
met. Total sales par value, $4,000.
United States refundlng 2's (when is-
sued. and the S's advanced u, and the
new As coupon, old As and SIS, X in the
bid price.
Total sales stocks to-day were 1856, 30
shares, including Atchison preferred, T.
100; Baltimore and Ohio, 1880; Chicago,
Burlington and Quincy. 6AO; Chicago,
Rock Island and Pacific. 5.225; Union Pa
cific, s,091; American Tobacco, $3.50; Brook
Ign Rapid Transit, 1895; Sugar, %, 1856.
Mo- 7 tak