The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-04
STOCKS AND BONDS.

New York, May 3-The general public
most part close up their contracts before
continues TO hold aloof from any share In
business on the Stock Exchange and the
movement OF prices reflects only the op?r-
atoms Of the small room traders.
These professional operators for the
most part close up their contracts before
the day has expired. thus rectifying to a
large extent the price movement which has
resulted from the original contract. other
operators of this class are in the habit OF
carrying their contracts over one day. The
result Of these operations, which are know
in the Stock Exchange parlance as trad
ing Jack knives" Is see-saw market,
prices moving one way one day and he
contrary on the next day as the sales or
purchases OF the one day are covered by
the contrary operations on the next.
All sorts of rumors and even vague sur
misses are the whole reliance in such a
market to affect the movement of prices.
Slight gains are the rule to-day. princi-
pally because losses were the rule yester-
day. Stocks which, from special Causes,
showed strength yesterday showed weak
ness to-day. Sugar moved mostly below
yesterdays level and was the leader CT
the market. The steel stocks were inclin-
ed to harden after yesterdays sharp
break the tendency being assisted by re-
ports of the reopening of some of the Steel
and Wire Company's mills. The Coalers
were raided by the bears on the resolution
of the anthracite operators to support the
proposed new coal road. The statements
Of weekly earnings by St. Paul and Hook
Ing Valley and the settlement Of the New
York Centrars threatened trouble with la
borers encouraged the traders 10 take the
bull side.
The failure OF predicted action to-day on
the dividend OF the Missouri Pacific direc-
tors caused sharp break from the early
-.
recovered from yesterdays weakness. The
extreme movements In either direction
were not maintained and the closing was
dull and irregular at small net changes
after the market had sunk near to stag
nation many times during the session
The money market continued very easy
although the prospect is for weak bank
return on Saturday The gold exports
will be taken from the reserve showing Of
the banks and the gain for those instltu-
lions from the sub-treasury has sunk TO
unimportant proportions.
To-day's statement of operations, in fact
showed a gain by the sub-treasury at the
expense of the banks OF 81 .931 600. But this
was due TO the deposit by the banks which
exported gold to-day OF the 81 10000 IN
payment Of the gold bars which were TAX
en- from the assay office, so that the goa
export figures include the loss Of the banks
shown in this item The movement Of cur
rency 10 New YORK from the interior con-
tinues. This will partly offset the export
OF gold but as the gold sent abroad goes
as a loan TO foreign borrowers, the loan
Item Of the banks will show q correspond
ing increase and Will expand the re erve
requirements In proportion.
There was more doing comparatively In
bonds than i'm stocks and prices were
weak. Total sales par value 81, 525,c00
United States refundlng 2s when issuel.
old and new as and SIS advanced u IN the
bid price.
Total sales stocks 800 100 shares, iuclud-
Ing Atchison 54C0 Atchison preferfe1,
9.2l0; Baltimore and Ohio, 2l.150 Missolri
Pacific. 2l.ss5; Northern Pacific, F,275:
Reading first preferred, 1870; 81. Pau,
5.22j; Southern Pacific. 1850; Union Pa
clhc, 1870; American Steel and Wire, 9,o35
do preferred. $50; Brooklyn Rapid Tran
sit, 6,G55; Federal Steel. $40; Sugar. 5s,s4j