The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-01-20
\ STOCKS AND BONDS.

New York, Jan. 1.-THE dullness and
apathy which prevailed in the stock mar
ket all the week gave place in the late
dealing to-day TO a considerable show of
animation and strength. Business broad
ened out and embraced a greatly extend
ed list of stock and practically all that
were dealt in advanced briskly to a level
substantially above that of last night.
The immediate motive of the buying
movement was the preliminary estimates
of the gains in cash for the week by the
associated banks.
The money market during the week has
shown with sufficient cleaness that cash
reserves were being largely replenished.
but Il is rather a tradition with stock OPP
orators to defer action to discount The
bank statement until Friday afternoon.
There has been very large waiting con
tingent in Wall street, watching some
positive development in the market be-
fore committing themselves to action.
Many of these came in with buying Or
ders in force in the last hour to-day. The
professional traders themselves turned in
a body to the long side of the market,
after having made a savage drive in the
morning at Third Avenue, breaking that
stock over 10 points. The amount OF
stocks brought out on the decline did not
prove very encouraging, and the rest of
the market was not acutely affected. A
number of positive points of strength also
developed, notably I'm Missouri Pacific in
which there was evidence of operations
of a pool. The whole of the Southwestern
group was affected by sympathy, not
withstandng the deterioration in earnings
on account of a small cotton movement.
Sugar was prominent figure i'm the ad-
vance on heavy dealings, in which the de-
mand from the shorts was a large factor.
These special points of strength were the
vantage points from the late general ad-
vance in prices was inaugurated There
were rumors all day of the relief of Lady
smith, but as London sold more stocks
than she bought in this market, the ru-
mors were without much effect. 1t Ia
estimated that the associated banks had
gained up to Thursday night nearly $1O-
600, 900 in cash, the estimate being based
on figures furnished by the principal banks
of the direct express movement. OF this
total, operations with the sub-treasury
have furnished 81 1856 900 There has been
no evidence of any large loan expansion
in The market, but the time money mar
ket and that for mercantile paper has
been quite active. A notable increase In
surplus reserve, is, however, considered
assured.
The market for railroad bonds contin-
ued broad and active all day and strength
was general throughout the list. Total
sales par value, $3,220000
United States IS declined Il and new u.s.
coupon, advanced a in the bid price.
The total sales of stocks were 344 800
shares. including the following: Atchison
preferred, l2,7S5; Burlington. $3.50; Man
hettan, $685.; Metropolitan 5.lS0; Missouri
Pacific As no. Norfolk and Western, s.
735; St Paul, 5,3is; Southern Railway,
400; Southern Pacific, 1856; Texas Pa
cihc, 1925; Union Pacific. q 225; American
Steel and Wire. 1860; American Tobacco
1416O Brooklyn Rapid Transit, 80. O85;
Sugar, 40,1SO; Leather, ITO.