The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-01
STOCKS AND BONDS.

New York, April S0-The day on the
stock market started Off with another at
tempt to rus \ up prices on speculative
manipulation with the purpose of attract
ing an outside following, but the short
interest had been so far eliminated by the
events of the latter part of last week that
there was not sufficient demand from that
source to keep up prices.
Neither was there any awakened inter-
est developed through the commission
houses. The market, therefore, fell back
and became dull and heavy, but without
positive weakness, until some of the later
developments, when the bears showed re-
newed vigor and sold prices TO the low
est of the day. The violent break in SUI
gar was the principal element In the de-
cline. That stock sold up to 1914 in the
early dealings and recovered to that fig
ure after a reaction and then fell away
with occasional spasmodic rallies 10 111A,
closing only slightly above that. The
news bearing on the stock consisted OF
a story from Boston giving elaborate de-
tails of alleged terms of settlement of the
trade war and the expressed opinion of
prominent spechlator. just before sailing
for Europe, that the war was settled. Sew
eral of the principals in the trade conflict
denied the allegations during the day.
The threatened strike on the New York
Central caused a fall of 213 points in that
stock and had a sympathetic effect else
pushed up to GO on rumors that a dividend
would be declared at to-day's meeting OF
directors and that John d. Rockefeller
would be admitted to the directory. Both
rumors failed to be confirmed by the
event, and the stock fell back, but saved
small net gain. The steel industries
after some show OF weakness, also became
firm, and closed generally with a small
net gain. The only developments bearing
on the group were rumors regarding the
threatened legal process against officials
of the steel and wire company. United
States Leather made a considerable show
of strength. Otherwise, the market gem
orally yielded to the reactonary tendency
and closed very near the lowest and easy
in tone.
There were no developments of import
ance In the money or exchange markets,
though both were scanned with eager in
terests. Discounts in London and steTl
ing exchange here were slightly easier
but London had to prepare for q 10 per
cent installment of the government loan,
which will be taken up this week The
tightening of the London money market
and the demand for exchange In New York
to pay the installment of American sub
scription will both tend toward gold ex-
ports. The money market here continues
easy and shows no sign of hardening, net
withstanding the diminished supply OF
cash for the market on sub-treasury OPP
erations. 1t is worthy of remark In this
connection that Saturdays treasury state
ment at Washington showed an excess OF
receipts over expenditures for the day of
s, 32l ,6Sl, thus materially raising the fig
ure of the months surplus.
Railroad bonds were weak in sympathy
with stocks, but the dealings We're rather
light. Total sales, par value, $l470.000.
United States 2s advanced u and new
4s declined u In the bid price.
Total sales of stocks, $40 800 shares, in
Guiding Atchison preferred, 20,s39; Burl-
ington and Quincy, 11,075; Rock Island,
5.s25; Manhattan, 5.925; Missouri Pacific,
1850; Northern Pacific, $500; Pennsyl-
vania, 1850; st. Paul, $3.50; Southern Pa
cifc, 1880; American Steel and Wire,
1926; American Steel and Wire preferred,
6,150; American Tobacco 500; Brooklyn
Rapid Transit. 1875; Federal Steel, 1886;
Peoples Gas. $3.50; Sugar. 256. 40: United
States Leather, 320S0