The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-06-19
STOCKS AND BONDS.

new Aork, June lo.-Ine STOCK r1ark0e
digested large volume of liquidation to-
day at what seems slight expense Of VAL
ues considering the appearance OF ex-
treme weakness manifested by the market
az times. This result was due to the fact
that prices were lifted in the early deal
ings TO level somewhat above Saturdays
close, and that there was a substantial
rally in the date dealings of covering by
the professional bears, who had taken
advantage of the softness of the market
to put out extensive short lines. But
the weakness of the market was none the
less evident. The buying demand through
out the day came largely from the short
interest, and from inside interests with
the purpose Of supporting prices in their
own stocks. Prepare tons for this had
been made on an elaborate scale in ex-
pectation of acute depression on foreign
exchanges as a result of Saturdays de-
velopments in the Chinese complications
but the weakness on foreign markets was
not as extreme as had been feared, part
ly, owing to the fact that the first alarm
ing rumors of the destruction of the for
eign legations in Pekin, and the death
of the German minister, were somewhat
diScreChted this morning in speculative
circles. Prices Of American stocks adj
vanced in London before the opening here
and London bought stocks of some COM
panies at the opening while selling others
This attitude of London gave color to re-
cent reports that some of the principal
bear operators of the New York Exchange.
now abroad, have been operating on the
short side of the market. They vera
taking to-days opportunity to cover as
their confereeS did from their side The
character of the buying was sufficiently
manifest from the dullness into which the
market quickly sank, when 1t rose 20 or
above Saturdays closing level. Notwith-
standing the sharp losses of Saturday, the
only buying demand of any considerable
volume came into the market when prices
were below that level. The bear traders
were active during the day seeking to
uncover stop loss orders, and they hal
considerable success all through the rail-
road list, in which the extreme declines
at one time averaged from to III for the
principal active stocks. Minneapolis and
St. Louis fell abruptly nine points, with
final rally Of 215. Canada Southern.
Chicago Terminal preferred Hooking Val
ley preferred and Denver and Rio Grande
preferred lost from 2 to 81. Northwestern
preferred, 3a4, and Lackawanna a.
The final rally iessened all these losses.
and entirely wiped out some of the smaller
ones. The steel stocks were decidedly
irregular, National Steel declining ~, and
Pressed Steel Car. American Hoop, Ten
nessee Coal and Republic Steel preferred
about points each. On the other hand.
Federal Steel Steel and Wire and Col
orado Fuel were rather firm.
The final tone of the market was steady,
and the majority of the exchanges were
small Announcement of 100000 gold
exports to Germany was not without its
effect on the weakness of the market
the more so as considerable further en-
gagements are looked for later in the week
by the French steamer.
The sub-treaSury has contributed nearly
100000 to the banks since Friday, and
New York Exchange at Chicago rose
further to 80 cents premium. But the gov
ernment's call for deposits to the amount
of $5,000,00O, must be met by the banks by
next week, and the period for the return
flow of currency to the interior, to move
the crops, is approa ching. The results 10
the money market are subjects of increas-
ing surmise.
The bond market was duh by oompari-
son with stocks, and losses were not so
pronounced. Total sales, par value. 81.
$780,
United States old As and the SIS declined
K In the bid price.
To-days total stock sales were 1880
shares, including the following: Atcnison.
7,l95; do preferred. 10. 100; Baltimore and
Ohio 1885 Chicago. Burlington and
Quincy. 31,lg0; Chicago. Rock Island and
Pacific, 1920; Louisville and Nashville.
$50; Missouri Pacific. 26S75: Northern Pa
ciic, 1880; Pennsylvania, H790; St. Paul.
23.12o; Southern Pacific, 1o.s3o; Southern
Railway preferred 5000; Union Pacific. a.
300; American Steel and Wire. 1880
American Tobacco. 1880; Brooklyn Trans
lit, 1870; Federal Steel, 9,6S5: Peoples
Gas. 10,7sO: Sugar, 1920; Tennessee Coal
and Iron $50.