The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-09-27
STOCKS AND BONDS.
Dealing on Large Scale and Range
of Prices Wide.

OF frtces NAues
New York Sept 2s.-The stock market
was more feverish and Irregular to-day
than for months. The movement OF prices
was very wide and the dealings we're on
a large scale, but the action OF the mar
ket Indicated that II was being ttesied by
professional operators.
The rally which set In the first OF the
week seemed TO have eliminated during
the morning and the over-enthusiassic
bulls who attempted TO bid up prices
against she outstanding short account
found themselves burdonod with increas-
ing offerings 70 realize instead OF driving
che shorts 20 cover They therefore al
lowed prices 10 drop back and the market
feb into dizziness al about last nighrs
level The bear party apparently made up
their minds that the elimination OF the
short Interests had 40 far weakened the
technical position OF tho market as 10
warrant n fresh inroad upon prices
The raid was conducted with determine
ton and showed the command OF large
resources. Northern Pacific was singled
out as the special object OF attack on ac-
count OF President Mellens assertion IN
the annual report that the prospects OF
business are not 50 bright for the coming
year owing 10 che spring wheat shortage.
Practically the same commentary was
contained in the annual report OF Presi-
dent HIN OF the Great Northern published
during the day Northern Pacific had
failed 70 share in the early strength. and
although there were other stocks which
covered a wide range on the down grade
Northern Pacific fell farthest below last
nights level Of che railroad group. The
selling OF Northern Pacific was supple
menfed by pressure against Missouri Pa
cihc. as there are supposed TO be large
long accounts existing IN that stock. The
raid was successful IN dislodging stop
loss orders and the whole market fell
away with some violence. Most OF the
leading stocks were a point or more be-
low last nights level before che decline
eliminated The early advance had shown
gains Of a point for many stocks. The
nervous condition OF the bears was strik-
inEly shown in the violent recovery Of the
last half hour OF the market when ru-
NOR got into circulation that the strike OF
coal miners had been settled. This rumor
was attributed 20 Chicago. AMI though the
prompt measures taken 70 secure authori-
,etive information on che point failed 10
confirm a.. the hears bought stocks to COW
or IN disordcrly haste Some violent recov-
cries we're the consequence. Reading nrst
preferred rallyiug 3h on wide jumps and
New Jersey Central
The covering movement extended
throughout che list and prices swiftly re-
traced their course 10 almost the top level
In many cases The market closed con-
slder,biv excited and strong with large
number OF stocks showing net gains. The
news that she miners settlement applied
only 10 one mine where peculiar conditions
cxiqt ala not become known until after
mo close Of the market What effect the
actual facts may have remains 20 be seen.
Tho day was barren OF any actual news
developments which Nigh, change the
.naeulative situation. The continued weak
rcss Of sterling exchange begins 10 arouse
conjecture again as TO whether relief 10
fhe money msrkes r. 10 b. lookd for by
gold imports.
--he bond market was dun and continued
Irregular Total sales, par value. 81 go .0o0
r-rfted states new a.. advanced = and all
other issues X per cent. W the bid price.
The total sales Of stocks were a2i 100
shares. including Atehison preferred $50
baltimore and Ohio, ESQ; Burlington. H.