The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-02-28
STOCKS AND RONDs.


New York Feb 27.-The violent huctu-
atoms of prices of limited number OF
stocks on the Exchange to-day realized
the professional traders dreams of Elysi-
UNI. Handsome profits were realized with
IN a space OF ten minutes and necessarily
heavy losses had to be pocketed But 1t
all added to the excitement and interest
of the hazard ana the board room traders
Kept the speculation at the boiling point,
working In and out of the market many
times during the day. The commitments
We're made almost entirely on the bear
side of the market, but the frequent TAX
ing OF profits by coverings of shorts worked
frequent and violent rallies. keeping the
market for the specialties in a state Of
feverish uncertainty with erratic huctua-
| lions. whose end It was impossible to sec.
Third Avenue was still the center OF Inv
! terest, as on previous days of this week.
On the sale of 21C0 shares at the opening
quotations were practically lost. smuItan-
eous sales being made all the way be-
tween 6S and GO, against 71h al last nights
close
The limits of the total stock issue SEEM
ed to be no bar to the volume of the
transactions. The detailed record of the
stocks cratic course during the day would
be without interest At the lowest price
II was ZOE points below last nights quo
tation and final fractional rally was
spasmodic and without significance.
sugar ihdtlthiiifi IT'S prominent pace VI
the market, but reflected much doubt and
uncertainty on the part of large outstand-
ing short interest. II was forced down to
l0ll6, and in the late dealings rallied
strongly, 20 1868, with only fraction
al reaction. There was much disorder
and weakness manifest at other points In
the list OF speeialties, notably in the 10
cal traction group and Tobacco But an
active demand for some of the railroa I
stocks on reports OF large earnings end
covering Of shorts In the specialties
brought the market to a high level and a
quiet tone During the hour after noon
the market seemed to have divorced itself
entirely from the demoralizing influence
of the movement in Third Avenue. But
In the next hour the bears fell upon the
whole list, tooth and nail, forcing down
Western Union on extreme so and Balti-
more and Ohio ~. Weakness spread
from these TO other points in the railroad
list and wide losses were effected amongst
the Industrials
The local traction group were down from
"a to 5h, Leather over 2, Rubber pre-
ferred 3, American Hoop more than a.
New York Air Brake and many rail-
road stocks from to 2 points, the latter
Pennsylvania, Pittsburg Cleveland,
Cincinnati. Chicago and st. Louis dropped
4. The bears rushed to cover at the de-
cline, causing a rally OF from / to 2Ia In
the stocks. which had shown greatest
Third Avenue was offset by the sudden
rise IN Sugar, leaving the tone in tho
general list confused and unsettled, but
with losses in some points in the railroad
list practically recovered. Strong show
ings OF net earnings for January were
mode by Atchlson. with an increase over
last year of II per cent; Erie with an
increase OF Al per cent and Phtsburg,
Cincinnati, Chicago and ST. Louis,
and Buffalo, Rochester and Pittsburg,
Southern Railway made strong showing
of gross earnings for the third week in
February. London bought stocks here.
but not on a large scale. the surrender OF
Gen. Cronje having apparently been dis
counted.
The money market was firm. The fact
that the sub-treasury had absorbed since
last Friday nearly s6,0O000O of cash can
not be without influence in the stock mar
ket. -
Railroad bonds were dun end Irregular
Total sales, par value. 81 900. Govern
ment bonds continued their buoyant adj
| vance. United States new A. advanced tx
and the 3s. Old As and IS in the bid price.
The total sales OF stocks were 625, 100
| including the following: Atchison prefer
red, 32,275; Baltimore end Ohio, 1926;
Manhattan. 1870; Metropolitan. 1852;
| Missouri Pacific. 1885, Norfolk and West
| ern. 2,795; Pennsylvania 1900; Reading
| first preferred, $500; Reading second pre-
| ferred 5000; st. Paul. $3.50; Southern Pa
! chc, 1850; Southern Railway. S7l60;
| Southern Railway preferred. 1900: Union
| Pacific. 1855; American Steel and Wire,
! 1000: American Tobacco, 30. 1907 Brooklyn
| Rapid Transit Il, 342; Federal Steel, $500:
Gas. 1910; Sugar 10. SOS; Tennessee Coaf
and Iron, $3.50; Leather, 1880; Western
| Union. 1882.
! New York Stock List.
I Atchison 80. go. 20%lT. & Pa. ....... 10