The Savannah morning news., 1900-08-22
STOCKS AND BONDs.
Movements of Industriols the nci-
dent of the Day.


New York, Aug 21.-The stock market
was narrow to-day, the only incidents of
note being the movements of certain IN
dustrials. The opening was easy on Lon
don's weakness Sugar was depressed on
the strength OF a reduction in coffee
prices which was taken to Indicate a pos
sible resumption of the trade war in SUI
gar despite the recent maintenance of
similar prices with consumers. The stock
went off a points on the Offering of some
large amounts. A continuance of the re-
cent hears campaign against Peoples
Gas accounted for its point fall. Small
declines in railroad stocks we're in SYM
pathy with London and reports of unfa-
vorable conditions in crop districts.
Business was only moderate during the
selling and as liquidation was not forced.
the shorts commenced to cover Before
the forenoon expired prices began to i'm
prove and there were indications of con-
fident buying in spots. Rallies were most
pronounced in the stocks which had suf-
fered most earlier, and the general level
was lifted above last night. Conspicuous
strength was shown by Brooklyn Transit,
Manhattan and Consolidated Gas the
latter rising "a per cent. from the lowest.
New jersey Central then assumed COM
handing position in the market, rising 81
per cent. to 1874 which is a record price
in its recent upward movement. Revived
reports were current of its probable alb
sorpsion by the Baltimore and Ohio Rail
road in the interest of the Pennsylvania,
the latter being credited with the domi-
nant influence in the management of the
Baltimore and Ohio. No zorro boration of
the report was had up to the close of
business nor of the statement that an ad-
n mi
incident with the high price registered for
New Jersey Central, the July statement
of earnings of the road were reported
showing a decrease of only 49, 104, but a
reduction in net of SIG, $50. This showing
and realizations forced the stock off to
1876 at the close. Reading first preferred
was the only other coaler to show any re-
Election of the movement in Jersey Cen
trail, the stock rising IL and retaining
the gain
While the speculation in these stocks
was being carried on the general list
was largely neglected and showed no in
clnation to rise above the level record
ed about noon. This circumsta nee caused
small offerings all around in the final
hour and the market yielded, closing easy
In tone, with net changes generally a
small fraction either way.
feature of the closing dealings was
the rapid ADVANCE OF 3H2 points In ST.
Joseph and Grand Island first preferred
which was unexplained. London oper-
atoms in this market were unimportant
but consisted of sales of a few thousand
shares on balance. Monetary conditions
abroad showed further relaxation. dis
counts at London declining and exchange
OF London a continental points also yield
ing.
In the local money market rates were
unruffled with borrowers described as be
ing In an independent position.
Business in bonds expanded to-day and
there was an active demand for 81. Louis
Southwestern seconds which advanced
them Is per cent. The general market
was irregular but variations were slight.
Total sales par value, 81. 115OOO
u. S. refunding twos when issued de-
clined a and news tours advanced Il in
the bid price.
The total sales of stocks to-day were
102SO0 shares. including Atchison, !. 465
New Jersey Central, $500; Reading first
preferred, $780, Union Pacific 1855,
Brooklyn Rapid Transit, 9145; Peoples
Gas. IA $50; Sugar, 1910.