The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-04-27
STOCKS AND BONDs.

New York, April 26.-The stock
market developed an impressive show OF
strength during the latter part of the day.
The principal influence in the rise was a
resumption of the upward movement in
Pennsylvania and Baltimore and Ohio
stock.
The recent reaction In these stocks has
been accompanied by rumors that import
ant speculative interests which had been
prominent IN the advance had sold out and
taken their profits. The news of the very
heavy OUTLAWS in prospect for permanent
betterment aud increased shipments
awakened some Apprehension of dividend
Increases being Indefinitely postponed, not
only on Pennsylvania stock, but on Bal
timore and Ohio and many other which
have been subject to rumors of increased
dividends; but to-day the report of prob
able increase in the Pennsylvania dividend
rate took form again and was circulated
with great eXpllcitness. Bids were made
on the board for the next semi-annual div
idend on Pennsylvania on thousands Of
shares Of stock "a per cent, compared
with 2K per cent. the last rate.
The meeting of the directors for the bur
pose of fixing the dividend rate is fixed
for Tuesday next. These reports in regard
TO Pennsylvania had the most Indirect in
fluence on Baltimore and Ohio stocks,
next to Pennsylvania itself, but the whole
railroad list responded I'm varying degree
pools, whose operations for a rise were
interrupted by the steel and wire episode.
resumed their operations to some extent.
This was notably true of the Gould South
western group, which are subjects Of
teeming rumors of prospective cOmbina-
lions or consultations. The determined
lrmness of Sugar and its buoyant upturn
later had a sympathetic effect on the mar
ket. The movement is still attributed TO
the demand from the shorts, but the many
assertions of favorable developments in
the trade war may also have had their
effect
A number Of unusually favorable rail-
road statements also had a Strengthening
effect on the market. Increases I'm net
earnings for March were reported by the
Atchison, Topeka and Santa Fe Of 50 per
cent; by the Hooking Valley Railroad Of
10j per cent, and by the Central Of GeOr-
gia Of 30 per cent. Returns OF gross earn
ings for the third week I'm April were also
uniformly favorable. These factors Of
strength caused growing uneasiness among
the rather unwieldly short interest, and
the demand from that element had no
small part IN the rally in the market. The
unsteadiness Of the sterling exchange mar
ket to-day gave ground for renewed doubt
as to the continuance for the present OF
the gold export movement. The strong
return Of the Bank OF England for the
week. as well as that Of the imperial
Bank Of Germany had some effect on the
exchange market. The sub-treasury's
debit balance at the clearing house show
ed a further decline to-day. falling 10
$300l19, compared with the recent average
Of over 100000. If this replenishment to
the money market Is cut OF It may serve
TO prevent the outward flow Of gold
The bond market showed increasing ac-
tyty and strength to-day To the sales.
par value. $3.50 900.
United states bonds were unchanged in
bid quotations.
Total stoc.-.ales were 400 shares. IN
GLIDING Atfhison. CLIO: Addison preferred,
$3.50; Baltimore and Ohio 1850. Burling-
ton ana quincy. GOO; Louisville and Nash
vile, 600: Missouri Pacific. 1853. New
York Central. GIT; Norfolk and Western,
coo; Northern Pacific. 10000; Pennsyl-
vania. 5i,gi5; ST. Paul. 9G20, Union Pacific.
1926; Wabash. 221O0; wabash preferred
1860. American Steel and Wire, 1876;
American Tobacco. G.050: Brooklyn Rapid
Transit 815; Federal steel, $50. Peoples
Gas, q $50; Sugar. ~ G75.