The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-10-18
STOCKS AND BONDS.
Opening RecessIons with a Closing
Tendency 60 React.

Tendency to React.
New York. oct. i7.-some continued ef-
fort was made in professional quarters 70
advance tho prices OF stocks to-day. but
the bull forces were considerably depict
ed and u was evident that the msnipula-
ton for the advance In some quarters was
taken advantage OF TO realize in others.
Yesterday market fairly demonstrated
that the outstanding short interest had
been reduced 20 such proportions as 70
make their demand Ineffective IN contiuu-
ing advance IN prices. To-day II looked
very much as though some OF the Inn
portant bull interests had taken early
coguizance OF this fact and had promptly
taken their profits. Some OF the recent IN
fiuentiai bun operators had fairly reversed
their position to-day ana were openly
large sellers Of stocks.
There was sufficient show OF strength IN
yesterdays market TO attract a consider
able accumulation Of buying orders from
outside sources this morning. In spite OF
opening rccesslons this buying encouraged
the bulls 10 resume operations for the ad-
vance. The sharp twist 20 the short in
tcrest Ia Peoples Gas was an influential
factor IN their favor. The definite an
nouncement that the Peoples and the OP-
den companies had adjusted their differ
ences and had come under one control
caused exciting trading IN Peoples Gas.
orders were simultaneously executed NJ
quotations running from ss& down 70 81
on sales OF $500 shares at the opening
The price was later run up on extreme
pa owing 90 the amount OF long stock
which came out az the level che price fell
back ana the stock closed with a net
gain OF only ~. The reaction IN Peoples
Gas and the satisfaction OF the outside
demand for stocks made the later manipu-
lafion for the advance Intellectual.
Southern Railway preferred and Louis
Vile and Nashville were pushed up IA
and IA and there was eager buying OF the
Reading stocks on the comnany's settle
ment with its miners Lake Erie and
Western had a striking advance Of 3
points and Consolidated Gas rose ~
There were some substantial gains In n
number OF less prominent stocks and
amongst them a few net gains were saved
on the day. but che closing showed a re-
actIonary tendency throughout and was
heavy with many stocks at the lowest
OF the DAY and net losses the rule. The
expectation - pretty confident that next
Saturdays bank statement will make q
strong showing. but there r. some recur-
rent anxiety as 90 the future. In New
York funds continue available for Dor
rowing. Uuf eneN come flottiN iFotu A9ah
and trust companies. who draw on their
deposits with the banks 10 secure them
thus forcing a shifting OF loans The cur
rent relief from the sub-treasury is be-
ueved TO have about come 20 an end. ana
should a recovery IN the price Of cotton
induce a renewed demand for funds from
she interior. the New York money mar
kes would again have 70 face the prob
lem 81 falling reserves.
There was a falling on in the activity
OF the bond marSSet and increased irreg-
ularitv Total sales. par value. $4,000
United states refunding p and the Old a.
advanced Z per cent. on the last call.
Tho total sales Of stocks were 40 900. In
Guiding Aschison. iazi5: Atchison pre-
ferred 1888. Baltimore and Ohio. $3.50.
Cheeapenke ard Ohio. $50. Louisville and
NASHVILLE. 1885, Manhattan. i22is Mis-
so,lr, Pacific. 1870; Norfolk and Western.
aes5: Pennsylvania. 1850; Reading nrst
preferred. 2o.s7o. 81 Paul. 5000. Southern
pacific $40: Southern Railway 1870;
southern Railway preferred s4e6. Ameri-
can Steel nna Wire. 1885, Brooklyn Rapid
Transit. si.e75: Peoples Gas. SID; Sugar,
344eo
New York Stock List.
Atchison =. -. c9x Union Pac. -. cox