The Savannah morning news., 1900-06-09
STOCKS AND BONDS.
Bulling Wheat and Bearing Stocks
Started on Change.

New York. June s.-The combination
bull movement in wheat and bear move
nent III stoeles, wiTic11 rs an annual -fea-
ture az some period of the growing crop.
made It's appearance to-day. The wheat
market advanced in an excited way on aa
increasing volume of rumors of disaster
TO spring wheat in the Northwest. Wall
street had similar advices and apparently
the conviction that serious harm has al
ready been done 10 the spring wheat
gained force steadily during the day
There Is growing uneasiness as we'll
over the rate situation among railroads
west Of Chicago. The face that the late
break in the prices of Western railroad
shares was coincident with the deHbera-
tons or the committee appointed by the
presidents OF Western railroads to con-
cert a plan for division of traffic. gave
force to the supposition that the prospect
for satisfactory settlement is not very
good. Failing such a. settlement. there IS
said to be a Likelihood of a widespread
and costly rate war. Coming in com
bination with the bad reports from che
wheat country, this served 10 efecruauv
break the market, and prices went to
pieces in the last half hour OF the trad
ing, the weakness spreading from the
Changers. Pacific and Southwesterns into
the trunk lines and specialtes, and en-
bracing the whole lsJ. This break came
after day of persistent dullness and r.
regular fluctuations in prices.
The incident Immediately preceding the
break was an advance of over a point in
Reading first preferred, with confident alb
sorption of very large offerings. The sec
ond preferred rose 2 per cent. in SYM
pathy. The gain in the first preferred was
all wiped out in the final break.
gain in the earnings of the
Northern Pacific of 2S per cent. for the
fourth week in May did not avail TO save
that stock from the prevailing weakness
in the unfavorable crop prospects, and it
fell points. Missouri Pacific and Bal
timore and OHIO showed weakness before
the general break, on fears of disappoint-
ment regarding dividends.
There was a relaxation of the pressure
on foreign markets, due 10 apprehension
over the trouble in China. and London
bought stocks here to a moderate extent.
causing some slight gains early in the
day.
The preliminary estimates of the bank
statement figure out a small loss in cash.
owing to the weeks heavy absorption bv
the sub-treasury, which amounted TO So
ll70o0, all on account of the call by the
treasury of government deposits in the
banks The estimates of receipts from
the interior are slightly in excess of those
made last Friday, but it will be remem-
bered that last Fridays estimates fell
short by 100000 of the actual receipts,
so that a gain in cash in tomorrow 5
statement would not be surprising. The
market closed active and weak a about
the lowest.
The bond market was very dull and
price changes were remarkably small To-
tai sales. par value. $l.l90,Oo0
United STATES bonds were unchanged in
bid quotations
-aa
shares, including the following: Atchlson
preferred, 1881; Baltimore and Ohio, 1895;
Chicago Burlington and Quincy, 1850;
Missouri Pacific. 22,790; Northern Pacific
% 900; Reading first preferred S,S20; Read
ing second preferred 6,565; S. Paul. $40;
Union Pacific, 1905; American Tobacco,
5,775; Sugar. Il 975; Tennessee Coal and
Iron. 5,5S5
New York Stock List.
Atchison ......... % Union Pacific 80. 5312
do pref. ....... M do pref. ....... 1914
Bait. & Ohio ... 77la Wabash .......... ia
Can. Pacific 80. 92a4 do pref ........ 1875
Can. So ......... 5l4 Wheel. & L. E.. So
Ches. & Ohio -. PA do 2nd pref. &c. 2i9s
Chi G. w. ...... 1l7s Wis. Central ... 14is
Chi b. e. Q.....l27l4 Third Avenue iii
Chi Ind & L.. 20l2 Adams Express 115
do pref. 1900. 81 Am. Express lilo
Chi. & Z. ILL.,. 81 United States . As
Chi. & NV. ....1621s Wells Fargo Ills
c. r. l. & P.....l06ls Am. Cotton OIL. 34A
c. c. c. & ST. L. s. do pref. ........ 80
Col. So. ........ Am. Mailing .... 81
do LIST pref. -. Il do pref ....... 20l6
do End pref. e. 172s Am. S & Refng S7A
Del. & Hudson lip do pref. -. 9Olt
Del. L. & Wis Am. Spirits ...... pa
Den. & r. Co.. 1724 do pref. ....... II
do prey ....... 81 Am. 5. Hoop go. 2654
Erie ............. NE do pref. ........ 10
do 1st pref &C.. 35i4 Am. S. & Wire. 94lk
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