The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-03-16
STOCKS AND BONDS,

New York, March 15-The principal in
terest in to-day's stock market centered
in Sugar, Third Avenue and Burlington
The rest of the market gave evidence of
some disappointment over the non-effect
of the currency and refundng law.
Prices were sustained for time by the
strength of the three stocks mentioned
and some others less prominent. Buring-
ton was most consistently strong and gave
evidence of manipulation said to be by a
pool formed to advance the stock. Its
extreme rise was rs. 1t had the most
effect on the other grangers, but served
as tonic on the whole of the railroa |
stock list The iron and steel stocks as
a group were inclined to firmness on the
confidence expressed by trade publications
in the maintenance of prices. Third Ave-
nue. was feverish and active all day It's
strength was attributed by many TO oper-
atoms against the large outstanding short
interest and the stock advance at one time
above 70 compared with 50 on drive at
the opening. The violent huctua lions in
the price reflected the doubtful and con-
hicting opinions of spectators in the
stock. 1t closed with a net gain of Pa
Sugar was not so errauc and did NOT
move over so wide a range. but its extra
rise of 31a after an opening decline. gave
way TO reaction in the late dealings and
it closed practically unchanged. There
was a decided inclination to throw over
stocks by tired holders in the late trans
actions and the closing was quite active
and weak the earlier gains except in a
few cases, being wiped out. Reading frst
preferred fell sharply nearly 3 points on
the reports by trade authorities of soft
ness in the anthracite market.
Peoples Gas was also conspicuous In the
late break. The general expectation of a
poor bank statement was the underlying
motive of the selling. The rate for call
loans. was, however, rather easier than
yesterday, under the influence of divided
disbursements. The prevailing rate was
> per cent and loans were made at Der
cent. New York exchange at Chicago
hardened sharply to 10 cents discount
compared with Is cents yesterday and
there was a similar movement at other
points. But the sub-treasury made an
other large draft on the cash resources
of the banks, bringing its total with
drawals for the week thus far up to 81. 273,-
900. AS the surplus last Saturday was
below 100000 and the currency move
ment is generally believed to have been
in favor of the interior since then while
the loans of the banks have evidently been
further expanded, it is difficult 10 believe
that anything can be saved in the way OF
surplus for the banks this week.
The report of a deficit is bound 10 have
an unfavorable sentimental effect on
I
coming from new bank circulation or the
disbursement of the government bond
premiums.
London sold stocks in this market, APP
parently on account OF the conditions of
the market there, which are called strin-
gent, and which the Bank of England
shows no prospects of improving in the
immediate future.
Business in bonds continued on a large
scale, but prices yielded in some portions
of the list. Total sales par value
s., 900.
United States Is and new As declined y
and the old As and rs a in the bid price.
The total sales of stocks to-day were
401 800 shares, including Atchison, 500; DO
preferred, 1879; Burlington 30 525; Colo
RADIO Southern 4240 Metropolitan, 16. 095;
Mexican Central, $3.50; Missouri Pacific
500; Reading first preferred. 1910; St
Paul, 1901; Union Pacific, $3.50; Amerl-
can Steel Hoop 6,45O; American Tobacco
$3.50; Brooklyn Rapid Transit, 2642j; Su-
gar, S. go; Peoples Gas, 1856.
Maui Xorlr Stool OF