The Savannah morning news., 1900-07-03
STOCKS AND BONDS.
Strength of the Market Fairly Wen
Maintained.

Maintained.
New York. July with the execution
of brief period OF depression at the
opening in sympathy with foreign quota
lions, the stock market was consistently
strong throughout the day and closed
with the gains well maintained in nearly
all cases. While the strength was cen
sistently strong throughout the day, the
market, both in point OF activity and
strength, the Changers and Pacifics were
the leaders
The news OF rains both on Sunday ard
to-day in the spring wheat region was
the principal factor in the advance, as it
was in the decline in The wheat market
The weekly statistics of grain traffic re-
Ceved from Chicago empha sized the in
Auence of the news OF crop conditions
Tile deliveries OF grain at Chicago shovel
a still further increase over last weeks
total and 6,S36 900 bushels were The lar
eest for the corresponding week in over
five years. with the exception of last
year frcm which the falling off was
about q per cent. The receipts at prima-
ry points showed only a small decline
from last weeks large aggregate. The
Willingness thus shown by the farmers
10 part with their wheat at present prices
serves somewhat to discredt the alarm
list reports OF the prospective shortness
of the wheat crop. The shipments east
Of Chicago, both of -four and of grain,
also showed good increases.
These considerations proved so effective
to offset the days unfavorable show
ing OF net earnings for May The report
Of the Chicago, Burlington and Quincy,
by reason of heavy charges for operating
al
earnings more than wiped out and the de-
crease, established in the surplus after
fixed charges, was no less than CO per
cent. The same causes were at work in
the case of the Louisville and Nashville,
the net earnings of which fell off about
II per cent. from last years level. Never
theltss, these two stocks shared fully in
the days strength. The figures of the
large July disbursements of dividends
and interest were another factor OF
strength in the market. These are esti-
mated var.ously at sioO OO0 OOO 10 $l25, GEO.
OC0 1t is pointed out furthermore, that a
larger proportion than ever before
these PAYNE nts will remain in this coun-
try, owing to the large buying of Amer
can securities from foreign holders dur ng
the past year.
The bidding up of prices to-day repre-
scented the effort by professionals to an
ticipate the coming pressure for reinvest-
ment. In fact the whole movement was
largely in professional hands, the advance
being accomplished on small volume of
business and with the obvious intention
OF improving the level of prices rather
than of securing stocks as cheaply as
possible. The steel stocks were strong in
the early dealings, in spite of the news
OF the continued decline in prices of pro-
duct and the widespread closing down of
mills pending the adjustment of wage
schedules. There was also a reaction in
the price of pig lead. The metal stocks
generally did not hold their best prices.
The same was true of the coalers. sugar
was comparatively quiet and was inclined
10 react from the high price The follow
irg depression was attributed to the Sc
rious aspect OF the Chinese question, and
IN Berlin to the effect of the disastrous
fire in Hoboken on Saturday, but the re-
fe,ted influence in this market was over
come within five minutes
A long list Of bonds sold ex-interest this
morning and many OF them made good
progress towards recovering the amount
of interest. Total sales, par value $685.
Co
L. S. refunding coupon 2's when issued
advanced 4 and Go. registered Is. New
4s declined 4 In he bid price.
To-days total stock sales were 2s7OO
shares including Atchison preferred
$500; Baltimore and Ohio 10000: c. B.
Q, 1S,l75; c.. r. 1. p, $50; Missouri
PACIFIC, 1850; Northern Pacific, 22'7Oo'
Pennsylvania. 1895; Reading. first pre-
ferr6d, 22,4s0; St. Paul. 1880; Southern
Pacific, $3.50; Union Pacific, 1,20; Ameri-
can Tobacco. 16 400; Brooklyn Transit b.
20; Federal Steel, $500; Peoples Gas,
d.335 Sugar. 10H7; Tennessee Coal ana
Il on. $500; American Steel and Wire 6'OSo'