The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-03-31
STOCKS AND BONDS.

New York. March 90.-The railroad
stocks retired in the ground OF
the stoc, market to-day, and gave place
10 the in ustrials and specialties. Sugar
almos. gtdid its traditional reputation for
rnc. S4inty by suddenly retraeing its
cuu1 g yesterday and mounting we'll above
yesterdays high point.
There was a momentary decline of less
than a point at the opening, and then
quick rally and the stock never got back
10 last nights level Twice during the
late dealings ii was 1S points above the
low level in the. morning, and its net
gain is 11Ac. The transactions in the
stock were enormous, and the buying with
q doubt came very largely from the out
standing short interest but the urgent
demand from the shorts was prompted
by what they believed were evidences OF
buying for the accounts of inside inter-
ests The course of the stock clearly
demonstrated a cynical skepticism on The
part of the speculative public regarding
the sincerity Of the pessimistic official
outgiving which caused yesterdays slump
in the price of the stock,
All sorts of sensa tional rumors were
aHoat regarding measures for compromise
of the sugar trade war, and there We're
yelled limitations that the opposition re-
finers had been emulating the example
of the Metropolitan Street Railway inter.
ests in the Third Avenue coup by ac-
curing Sugar stock at the decline. At
all events the shorts in the stock were
acutely perturbed in mind. and scrambled
to obtain stock The local traction stocks
furnished the other surprise in the mar
ket and like Sugar, developed aggressive
strength In the face OF bad news. The
demand in this group undoubtedly came
from the shorts. The figures given out
from Albany last night of the valuation,
placed upon the franchises of the New
York traction companies were as high
~ ayfr estimates
Wall street.
With the exception of a preliminary
drive which carried the stocks down from
IL TO points the whole group was eager
ly bought all day, rising well above last
nights figures and not falling fer below
that level again. Peoples Gas and a num-
Der of the steel and iron stocks by rising
sharply, completed the demonstration OF
strength in The industrial group. The de-
mand for the railroads seemed to have
quieted down for the time being with the
exception of a stock here and there in the
list which showed a good advance. Profit
ticking wes the motive of the selling
prompted by the weeks considerable ad-
vance. But the pressure upon the money
market incident to the quarterly settle
Iaeni next week which was manifest In
foreign markets even more than here
had its influence in checking the buying
movement. AS the buying of the special
ties was largely 10 cover short contracts,
1t was not Influenced by money market
considerations. There was no stiffness in
the rates for money. but preliminary fig
ures of tomorrow S bank statement failed
10 indicate so strong a return as has been
counted upon.
Owing to the falling off in the amount
of government bonds offered for CONVEX
sion. the disbursement Of premiums has
decreased and the weeks gain by the
banks from the sub-treasury will be less
than 100000. on the interior movement
by express the net receipts are estimated
at less than 100000. AS against this small
gain in cash the expansion in loans has
unquestionebly been large. There IS
ground for doubt, therefore whether con-
siderable inroad has not been made on the
surplus.
Business in the bond market showed n
falling off. but prices were about main
tanned. The total sales, par value. were
1880 900.
United States s's. Old As ana new as de-
clined Il in the bid price
The total sales of stocks to-day were
100000 shares, including Atchison Al $50:
do preferred, q. 472: Baltimore and Ohio,
1884; Chesapeake and Ohio, % $40: Cleve-
land, Cincinnati. Chicago end St. Louis
1o605; Iowa Central. $751; Manhattan. 10.
$50; Metropolitan Street Railway p ga
Missouri Pacific, S,5d; Norfolk and West
ern, 1855; Northern Pacific 1880: Ontaro
and Western. 1864; Pennsylvania. 1076s.
Reading first preferred. $50 Southern
Pacific, 2l,420; Southern Railway. 1850
Union Pacific, 22.560: Wisconsin central
1920; Steel and Wire. 1880: American
Tobacco, l1,o50; Anaconda. 18G9S Brooklyn
Transit, A. l65. Colorado Fuel and Iron.
SVa5; Federal Steel, 1885; Peoples Gas,
$780, Sugar. 1871 .665.
New York Stock List.
Atehison ........ 2sHT. q Pacific. 1874
DO pref ....... 72ss u. Pacific .... So
-. Ohio ..... S7sl do do pref So. 7Gai
Ian. Pacihc -. 81 Wabash ......... ~
Lan. South "a do pref ....... 22il
=. Ohio....... 32i5lWheel. & L. e. II
Ghl. ct. West. l4Al do do End pref 30si
=, y. & Q...-..l3 wis. Central . 20
mi, Ind. q L.. 25Alrhird Avenue .l02ii
do DO pref 49,. IS Adams FIX ....ligit
Chi & e. Lille Am. Express .14g
GhL NorthwlGi ~ S. Express. M
O., r. l. & P...1f2atW.-F. Ex ....l25
T. Q q & 81 l. ceL A -, ~. 90 set5