The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-03-06
STOCKS AND BONDs

New York March 5-Attention i'm the
stock continued TO be largely diverted to
the feverish and excited fluctuations of a
small number of stocks Manipulation bv
the bears was largely responsible for the
changes. In the case of sugar, the opera
tons of the professional traders were
interrupted by the unexpected action OF
the directors in declaring quarterly
dividend of l15 per cent on the common
stock.
This sudden tearing aside OF the veil of
mystery rather non-plussed the profess
sional traders who had counted upon n
period of uncertainty until Wedne sday in
winch TO circulate vague tips and to keen
up an excited huctuation in the stock
with opportunities for proht-taking, both
up and down. The cutting i'm hair of The
dividend was about what Wall street sem
timent had settled upon, but coming sud
denly upon the half~executed plans of the
speculative contingent, it left them all
at sea The stock opened under pressure
but after falling nearly points encoun-
tered very vigorous support and was raj
lled to lO5l2 by noon. A two thousand
share lot was taken at that price when
the news became known of the dividend
action Enormous selling for both ac-
counts Immediately followed and the price
slumped by wide breaks with occasional
spasmodic rallies of 81 Fluctuations were
very wild on the recovery to par The
Hood of offerings prevented the rise above
that, but on the reaction to 9S large buy
ing was in evidence. again, which rallied
1t to 9915, where Ii closed at a net loss of
l9s. In the half hour after midday trans
actions in this single stock reached the
enormous aggregate of 62,000 shares. There
were sharp breaks in Tobacco and Ten
nessee Coal and Iron at the same time
with the slump in Sugar, but the general
market was not affected In fact the
stock market gave evidence of its relief
over the settlement of this a
question by a smart rally, many of the
railroads rising to the best prices Of the
day.
The market was again unsettled in the
late dealings by an attack on steel hoop,
Peoples Gas and Consolidated Gas, driv-
ing them down three to four points. New
York Central reacted IA, but otherwise
the railroad list was little affected and
retained fair sprinkling Of net gains.
Third Avenue after having risen to 5SA,
was forced down to "a in the late deal
tngs and Tennessee Coal and Iron, also
yielded to pressure. A quotation or 3Is
per cent. was made for call money in the
course of the late bear raid on stocks.
London held aloof from the speculation
pending the presentation of the war bud
get to the House of Commons.
The money rate hardened in London
and in Berlin, and the influence from
following markets were on the whole on
the side Of the depression. Further re-
ports of railroad net earnings for jan
uary showed extraordinary increases, but
the gross earnings for the fourth week
in February did not show striking
gains as those for the third week.
The bond market was rather duh and
irregular. Total sales par value 81 ,76O,-
900.
United States bonds unchanged in bid
quotations.
The total sales of stocks to-day were
513N COO shares including Atchison q22. 10
preferred, $780, Burlington, 300; New
York Central, $780, Pennsylvania, 1880;
st. Paul, $40; Southern Pacific, $500;
Southern Railway preferred 7l3O; Hoop,
S425; American Steel and Wire, $3.50;
American Tobacco 14.7J0; Brooklyn Rapid
Transit, 2S1SJ; Federal steel, 6,452; Gas,
57eS6; Sugar $50, sS5; Leather, $40
Nl.r,t lttneinnc