The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-03-23
STOCKS AND BONDS.

New York March 22-The railroad
stocks had their innings on the Stock EX-
change to-day The demand for all
grades of this class of securities reached
imposing proportions and the buying
came from ali degrees of investors and
spectators, large and small. The indi-
vidual investor was in evidence as a buy
er of fractional lots all through the list
and some of the heavy buying was at
tributed to the account of banking inter-
ests and insiders in the various proper
ties The professional board room trad
ers on the floor of the Exchange have
turned bulls 10 a man. and the specula-
tors of larger caliber and speculative
pools made their operations manifest in
the volume of transactions.
Individual transactions to the extent of
1000 shares were so usual as to attract
little attention, while many lots of 1000
to $500 were recorded on the tape Nor
folk and Western and the Atchison stocks
took the most conspicuous place in the
trading, but there were impressive trans
actions at different times during the day
in Union Pacific, Baltimore and Ohio
Southern Pacific, Pennsylvania, Northern
Pacific, Chesapeake and Ohio and late in
the day in Southern Railway. The
strength disclosed in yesterdays market
precipitated to-day's rush to buy and it
was made clear that a very large element
must have been waiting and watching
some time for the first sign that the mar
ket was throwing off its lethargy and get
ting ready to move.
The rush to buy was taken advantage
of to take profits on very large scale
in stocks which have recently enjoyed a
considerable advance under manipulation
by professional operators and pools. Prac-
tically all of the Industrial stocks in
GLIDING the local fractions and the iron
and steel stocks and also Sugar, were
sold to take profits under cover of the
speculative furore Baltimore and Ohio
and the Pacific stocks also showed its
effect very distinctly Union Pacific was
advanced early and was held pretty
steady at the advance all day, but 1t
made no notable further progress up
ward and the other stocks in this cate
CORY showed positive reactions But the
current of the buying demand was so
deep and strong as to carry the whole
market practically in its sweep. Commits
sion houses reported orders on large
scale and London was an eager buyer
Of stocks here far beyond the usual hour
when transactions for that account have
ceased. The volume Of buying for this
account was estimated at from $1,000 to
1000 shares, and was "A potent influence
in the general strength Of the market.
London cables reported that part OF the
buying of Americans there was for Ber-
lin account A furry in call money in
the afternoon to per, cent was an adj
montory symptom prompting 10 the re-
Election that even the relaxed conditions
in the money market might be overstrain-
ed again by headlong speculation. A
drop in New York exchange at Chicago
TO 20 cents discount compared with Is
cents premium earlier in the week point
ed the same moral
Government bonds were also checked in
their downward course to-day and raj
lied, indicating that the process OF profit
taking there which has been a factor in
releasing funds to the money market,
has come TO a pause; and although the
sub-treasury absorption is cut almost IN
half as compared with last week, It still
promises to run up close to the amount
Of the surplus yet remaining with the
banks over the required rs per cent
Probably a perception of these facts,
as well as the violence OF the days ad-
vance, prompted the general movement
TO taKe profits IN the late dealings which
reduced PRICES all around from the best
and made the closing easy.
The bond market was active and
strong. Total sales, par value, $.0i5 900.
United States refunding "a, when is
sued old Is advanced y and new Is IN
the bid price.
The total sales OF the stocks to-day
were 960,773 shares. including Atchison,
81 $50; Atchlson preferred, 62.370; Baltimore
and Ohio, 1880; Chesapeake and Ohio,