The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-09-29
STOCKS AND BONDS.
Satisfaction OF Demand From shorts
Cnnses ReactIon.


Causes Reaction.
New York. sept 2S-stocks were rsao-
tionary again to-day on she substantial
satisfaction Or the urgent demand from
the short interest. The brokers were too
busy on the floor last night In the closing
hour to notice what was going on IN the
loan crowd. hut the fac, was disclosed
tbs morning that the supply OF stocks was
again very abundant as a result OF tho
heavy reduction In the outstanding short
interest aud the consequent borrowing de-
mand for stocks This. In itself was sur
hcient to indicate . reaction, as the ex-
istence Of a large short interest Is pO-
tentlll support 90 prices and It's elimina-
ton materially weskens the technical po-
sition OF market
In addition there was the usual lack OF
explicit oficial Information regarding yes
terday's rumored strike settlement ana
some natural reaction in sentiment n a
consequence But the underlying convic-
ton remains mistaken that a settlemet
Is On course OF arrangement There were
strong spots among tho coalers. Reading
first preferred advancing at the opening
on its good showing OF August net earn
ings and i.aekswanna rising an extreme
sa, on the declaration Of the regular guar
terly dividend This served as something
OF a drag on he downward course Of the
market Growing weikness developed
amongst the specialiiss and very heavy
Liquidation was Co. evidence In Northern
Pacific. the stock declining 2as. The iiqui-
dation was attributed 10 Berlin account.
the Berlin stock market continuing IN a
hghly unsettled condition owing 20 the
growing sfrinpency Of money. Declines FOR
many u the prominent stocks ranged from
To- ; points from the lowest and the
demand to cover shorts az the decline was
slight The market closed dull and heavy.
Tho pfosps Of an unfavorable bank
statement was a notably depressing factor.
The banks have LOST on sub-treasury ac-
count alone s5I6900o, which includes de-
pcsits IS the banks for payments at other
points The express movement OF money
20 the Interior Is expected 20 bring the
aggregate loss IN cash by the banks 70
above $4,000 or about million IN ex-
cess a that q last week. Liquidation In
the stock market has not been a. large
a. last week bat small decrease IN
loans g. expect ed The luroad upon sur
Mus reserves viii nevertheless be OF for
midable proportion, The assistant treas
urer was debtor az the clearing house to-
daV for upwards Of A-.-0oHN as the result
OF two checks for sold received from Aus
tralia az san Francisco a week ago. But
this gain by he banks VIII figure for
only one day IN the averages. dispatch
from Australia announces the shipment OF
s. 10000 IN gold 20 San Francisco which
will ultimately become available 10 the
New York market sterling exchange
sieldied Ia New York today hut the ex-
chang. on Berl and Paris fell SHARPLY
Sterling exchange az Paris also fell IA
ceutimes ana there was considerable re-
suiting disturbance IN that market.
The reactionary tendency was not 50
manifest in the railroad bond market as
Tor stock. Total sales par value 10000
United States rcfunding D. when issued
ADVANCED 4. ger cent In the bid price and
new a. declined =.
The total sales Of stocks to-day were
e5g 90 shares. including Atchison PREFER
81. 7aH: baltimore ana Ohio. 55l0; Bur
tfrgtcu. 500. Northsrn Pacific. Ssssi'
reading hrst ISIS. Union Pacific. 2359t
steo ard Wire. 1855. Tobacco. uTo;
prooklyn. $3.50. Peoples Cos. 1870. Sugar
1906