The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-10-27
STOCKS AND BoNDs.
Further Renction with Burst Of
strength At the Close.

Further Reaction with Burst Of
strength At the Close.
New York. oct 26-The stock market
underwent many fuctu2tions OF sentiment
to-day. but on the whole came through
the days ordeal very well and the aver
age level Of prices was higher as a result
OF the days trading. The market was
very irregular from the opening and dur
ing the course Of the session the reaction
AIRY tendency fairly got the upper hand.
carrying prices TO well below last nights
level. The extreme change IN the most
active stocks was from 10 over points,
but IN the final rally the net changes were
small fractions.
The weakness which overcame the mar
ket was clearly enough an incident OF the
digestion Of profits The force Of the final
rally showed that professional operators
venturcd 80 sell shorts pretty freely also
Wall street had is daily report this
morning OF stupendous new combinations
in the railroad world. this time relating 20
Southern Pacific The Vanderbilt inter
ests Il was snid. had secured control. and
IN problems Of competition and ratc-cut-
ting were forthwith 10 be settled. Chicago
and Alton and Kansas cry Southern, Il
was also confidently alleged. had become
consolidated. The securities Of the lat
ter two companies responded with brisk
advances. But In Southern Pacific cnor-
nous blocks OF long stock came out. sue
ceodiug a primary sale Of io.0o shares AZ
quotations "a point apart. The opening
quotation was the highest OF the day and
the stock fen away IA during the active
selling movement Brooklyn Rapid Tran
81 was very actively dealt IN and WINS
pushed up ~. before any marked signs Of
"a
81 strength served 20 sustain the market
somewhat. but realizing continued on On
active scale. The Coalers broke sharply
on q report that the Reading Company
would nine 20 its fun capacity mum
her OF the iron and steel stocks declined
from ! 70 ~ points. They were affected
somewhat by the reports Of the deep cut
IN prizes OF steel rails made by British
manufacturers. following a cut made ear
Tier I'm the week by German producers
The late rally was Ted by Missouri Pacific.
which was rushed up points above the
lowest. without any news 20 account for
che rise
Tho fan On thc call money rate az 2 per
cent and ths manifest relaxation in the
measure 20 realize encouraged the adj
vance Preliminary estimates 81 the
weeks cash changes by the banks promise
"a large decline in cash reserves. Opera
greatest interest. Deposits OF cash with
this Institution for transfer 20 the interior
have been much smaller this week than
last on the other hand there have been
paymcnts Of drafts on account OF gold
deposited az Pacific coast points. and the
norton Of the gold imports which came
ID bars have been paid for az the assay
Office. Nevertheless the sub-treasiry
has absorbed from the banks during the
week no less a sum than $4,000. The
shipments o. currency BY express 20 the
interior are believed 20 have been less
than 81 10000 but the decline in cash re-
serves seems certainly 20 have reached .
total Of s30o on. The acton q the call
money market relieved apprehension and
suggested the inference that the banks
must have further contracted their loans
10 a. 10 reduce the reserve requirements
during the week only about 100000 OF
,old OF the 81 10000 engaged for import
was received IN time 10 figure IN the
statement. the balance being IN transit
Tho bond market continued active and
showed POINTS 81 weakness So sympathy
with stocks Total sales. par value. 81
-00n
United States refundlng g. the new and
old d ard the b advanced y per cent. on
the last call.
The total sales OF stocks to-day were
81 COO shares, including Atchison, 25,s70.