The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-23
STOCKS AND bonds.

New York, May 22-Sugar certificates
occupied the attention OF the Stock Ex
change to-day to the practical exclusion
of other considerations. The apathy and
lassitude of the market seemed TO spur
the professional traders to a search for
some medium of operation and they gave
themselves up to a speculative revel in
Sugar. The movement of the stock was
highly characteristic. That is to say, the
fluctuations were frequent. violent and
cratic and there was no news to account
for them beyond the airiest and most un-
substantial rumors. Also, II was evident
that the enormous business being done
would necessitate very little clerical la
Dor on the transfer books of the COM
pany.
Probably the large majority of the con-
tracts made, either for sale or for pur-
chase were closed out before the end of
the day, the profit or loss being accepted
by the trader. The stock extreme range
was rs points and the net gain was 4%
points. In the opening dealings the price
went down. in continuation OF yesterdays
depression. After declining 1ss the ad
vance began, and IL had not proceeded far
before the shorts began to manifest dis
tress and rushed to cover pushing the
price up to the maximum The squeeze
was not relaxed until the demand from
the shorts was pretty well satisfied The
transactions and without any evidence of
support. The bears became weary after
their punishment and refrained from ag-
gressive selling, in spite of the announce
ments made on official authority Just be-
fore the close that the sugar trade war
had not been settled and was not likely
to be.
The leading industrlals showed sympa-
thy with Sugar. especially American To-
bacco. which is nearest kin to 1t in specu-
lative character The latter stock showed
better resistance to reaction than other
specialties which generally lost pretty
much all their gains.
The general list continued In a slough
Of despond and moved either way with
great difficulty Opening prices were low
er in sympathy with London and there
was midday rally when Sugar shot up
ward and Chicago and Northwestern was
marked up 5R The latter movement was
without explanation, beyond the large in
crease In earnings for April which was
reported yesterday. Northern Pacific was
comparatively firm on a good statement
for the second week in May Baltimore
and Ohio was we'll supported on small
dealings. For the rest, the trading was
listless and indifferent with no evidence
of outside interests. The speculative apa-
thy and depression were common to all
the great securities markets of the world,
and even the speculative markets for
foodstunrs and commodities showed de-
clining tendency.
Sterling exchange here was decidedly
easier, but II is considered not impossible
that some gold may be engaged for Paris
tomorrow.
The bond market became dun and irreg-
ular again to-day. Total sales par value
81, 10000.
United States refunding rs when issued
declined q an old du the
3s and new As a in the bid price.
The total sales of stocks were 4O53O0
shares, including Atchison preferred T.
290; Burlington and Quincy. $500; Metro
politan, : 100; Missouri Pacific, 1900; Penn
sylyania, 500; Southern Pacific, 1880; I'm
lon Pacific, 9,542; American Tin Plate, pre-
ferred 62.93S; Brooklyn Rapid Transit, 49,
%5; Continental Tobacco, 9270; Federal
Steel, 5,OS5; Sugar, 1910; Peoples Gas,
7OI5