The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-12-15
STOCKS AND noNDS.
Animation ana sharp Advances the
Order of the DIV.


New York. Dec 1.-THE stock market
to-day demonstrated again It's astonishing
rcsIlloncy and underlying absorpuve pow
ers Thr faith Of capital lu the intrinsic
merits OF securities and iu the country s
prosperity could not have been more
strikirgly demous rated than by such a
movement as To-day
Wal stree, has lived for some time past
la Astounding confidence that the securi-
ties were bound 70 60 mp after the cXigcu-
-ies Of the yearly settlements had been
met and the money supply replenished 10y
. reaux or funds by disbursements 81
dividends ard interests. has the large EN-
rroachmout making on tine money market
has caused a haunting dread chat pri ts
ia tho stock market were liable 90 Doe
topp.od over by "a squeeze iu the money
market and "a forcing OF speculative lqui-
dation
IL was moi until lato to-day that q so
iuslon 81 The market enigma wa- offered
in lntimatiou that tine losses hy thc mar
kat during the week which are concius-
lively shown by tho known movements Of
money has been offset hy gain 81 over
81 oooo00 from some local source. This in
ttmation. coming on TOP oi series Of
favorable development threw the market
into state OF boiling animation ana
bgovnucV The eager buying demand
came from nh sources professional bears
who were short Of the market competing
auNiousiv with she rampant bulls VINO
distributed their buying orders with q
lavish hand all through the list. The con-
tfaef WIS striking one. with tho con-
aftIous Of tho close last nigh', when not
even "a phenomenal advance TO the ERIE
stocks was able 90 overcome The uneaal-
ness OF spectators over the paIpaole
showing OF the Absorption by ihe sub
treasury 81 practically enough 20 com
nie,cIy wipe ou' the surplus reserves or
tho banks
The misplaced conhdencr 81 bear opera
tors In Inst uiEhf4 selling movement was
an Important factor in emphaeizing to-
da,.s advance The ron strength Of the
market was by no means manifest 80 thc
eariv dealings although enc out'urst in
tho Wabash securities uad ioftifFinE
effect. The absorption OF ne icnnsyi-
vaufs Coal Company 10 behalf % the an
thrarlte group was continuing influence
and was helped hy this morning an
uoiinlsment Of the accession ~ very I'M
fsortaut representative to ihf Lille soar %
I'D Director. The eject WIS not direct
Ia. manifest in tho Erie stocks. which
v.rra reactiounry on prohf-fnklug "ut
taa clear evidence afforded nt thr per-
.leteu, poucy amoug the controlling in-
ters-rts ~ important railroad to~afds
eou.oiidatlon ard extension ~ Influence
and representation had "a stimulating ef-
f.rt throughout the list Tho ooalera
...ra gfs, affected as heins most imme-
tt,tciv concerned. ana che movement
sprasd 20 The central trafie connections
M the trunk Hines aud to oil minor or
connecting railroads ln which any com
,nun.iy ~ Interest or ownership could a.
traced
b. would be useless 20 try 20 specify or
classify the hnai development ~ the
movement. as practically the whole mar
- rcspord,d. Even the industrl8ls and
-nselalties which huns back 800 the early
,i@.,inRs recovered huov1utlg 60 above
~. rieht'p close ST. Paul rose nearly
tout points. and long lisa Of railroad
stocks advanced from 20 3 points. Just
what Is the source Of sac special move