The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-03-17
STOCKS AND BoNDs.

New York, March 16.-Whatever Signiit-
canoe attached to to-day's market was of
negative character Trading in the aggre-
gate was on a small scale, and even at
that was congested in a few of the spe-
ciaities.
Third Avenue continued to absorb
large share of attention and was the only
stock on the list with any considerable
range in the price iuctuaton. After an
early decline this stock moved upward
over points and closed with a net gain
OF 2l5. Sugar was active, but showed
a comparatively narrow range and ended
the day with a small net gain. Peoples
Gas more than retrieved an early decline
and Pacific Mail was notably weak.
Otherwise the dealings were small. price
fluctuations narrow and the list of stocks
dealt in a short one
That the general tone was firm was
probably due to the fact that the bear
traders bought stocks to cover short con-
tracts. There was no evidence of outside
speculative demand, but there was some
investment buying here and there on
small scale Probably the bears were in
duced to cover by the prospect that to-
morrow's bank statement may fall slight
ly short of being as weak as was feared.
The New York Sub-treasury made small
contribution to-day to the cash resources
of the banks on the routine transactions
between them. This is the first time this
has happened IN over llFee weeks, anu
brings down the losses by the banks for
the week on sub-treasury operations to
81, 307, 900, compared with $6,S60,000 last
week To-day's gain by the banks is
due to the disbursement of pensions. on
the currency movement by express to the
interior a net loss by the banks is ndi-
Gated of only about 900, compared with
50, 100000 Without allowing for the move
ment by registered mail, the loss of the
banks on all accounts is therefore only a
little over IS, 900. 600 compared with nearly
$40, OO00 900 last week. The changes in the
loan account are largely guess work.
Some Of the banks called loans during the
week, but on the other hand the borrow
ing of money to buy government bonds
continued. The hardening Of New York
exchange at Chicago is said to be due to
the transfer of funds to lquidate loans
contracted by Western banks for buying
government bonds in New York. These
doubtful elements in the outlook some
what modified the conviction of profess
sional traders that the surplus reserves
of the banks are certain to be wiped out
tomorrow.
Money on call was in good supply for
most of the day at from 4 to AZ per
cent, and the late furry was accom-
panied by rather palpabe manipulation,
the rate quickly yielding under the offer
ings brought out. But whatever may re-
main OF lne sui pAuos II 10 NSi .IiAA ~ ~
small The impression Is general, now
ever, that to-morrows statement will
show the low-water mark for reserves
and that the factors of replenishment Will
begin to show effect next week.
Bonds were relatively more active than
stocks, some of the dormant high-grade
issues being dealt in at advancing prices
AT other points prices yielded. Total sales
par value 81, 600.
United States old As declined q and the
IS and IS p per cent. in the bid price.
The total sales of stocks to-day were
212. 200 shares, including Atchison prefer
red 4,4S5: Burlington, 1850; Manhattan
ex-div, 621O: Mexican Central, $3.50; Amer
lean Tobacco, $500; Brooklyn Rapic
Transit, 1920; Peoples Gas, $50; Sugar