The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-04-04
STOCKS AND RONDs.

New York. April 3-The two most POI
ten. factors in to-day's stock market was
Federal Steel and the Baltimore and Ohio
stocks. The pressure TO liquidate the for
mer had a decidedly unsettling influence
on the whole market in the morning and
the strength of the latter stock served 20
etiffen prices during the afternoon and 70
retrieve TO a large extent the early de-
cline.
The opening in Federal Steel was wide
and the price was soon carried down to 40,
a drop of ~ from yesterdays close. IL
rallied points, but went off again in the
last fifteen minutes Of the market TO
the lowest. developing renewed signs Of
weakness in the rest of the list. Selling
Of the stock was due to the practical ad-
mission that che failure to amend the
charter yesterday at the annual meeting
was equivalent to the abandonment of
further dividend distributions this year.
owing to legal obstacles The strength
in Baltimore and Ohio developed after the
Executive Committee had convened. 1t
was generally understood that the meet
ing would consider the granting Of addf-
tional rights to stockholders and new ru-
mors were rife. The common stock
touched SSi2 and the preferred s., and both
reacted nearly points on profit taking,
helping to the easier money in the close
London was a free seller i'm the early
dealings and helped to the opening reac-
tpn.
While there were no very large offerings
brought out at the decline the demand
for stock was decidedly less urgent than
In the recent market. and when the dull
hess and frmness prompted to an ad-
vance large offerings 10 realize were
brought out. when prices got back 10 last
nights level The market gave evidence
Of the pressure Of large speculative hold
ings to realize, but holders evidently felt
themselves strong enough to withhold
their offerings az any considerable con-
cession. Outside few stocks the days
movement in prices was narrow. There
was considerable strength in the -Grang-
ers under the leadership OF ST. Paul,
based on a very heavy grain movement
now going over the Western lines. The
trunk lines were firm on the large east
bound shipments, besides the syrnpa hectic
effect OF the movement Of the Baltimore
and Ohio stocks. The rally from the low
point reached a point in a number of
prominent railways. bur the final easing
Off left most OF the days net changes
small and mixed between gains and
losses. Sugar was actively dealt in but
after an carly decline Of over a point.
mounted upward points on the rted
easing In the price Of raw sugars. The
price eased Off in the late decline, bring
ing the net advance down 20 II
The money market worked somewhat
easier to-day. as the influence Of the April
disbursements is beginning 10 be felt.
There ~ no further apprehension in stock
market circles on money market consid-
eratlons. The bond market continued
quite active end changes in prices were
maintained. TOTAL sales. par value, 81
75O. 900.
United States 3. coupon. new a. and IS.
declined u in the bid price.
The total sales OF stocks to-day were
72s s00 shares. including Atchison D. eg5:
Atchison preferred 23.75s; Baltimore and
Ohio. 7s. ese; Chesapeake and Ohio, 5. $50:
Burlington i5.77O; Louisville and Nash
vile. $3.50; Manhattan. $50: Missouri Pa
cihc. $3.50; y. T. Central 1851: Norfolk
and Western. $780, Northern Pacific. q $40:
Pennsylvania. $3.50. Reading first pre-
ferred. $500: Reading second preferred
1920: St Paul. % 975: Southern Pacific,
i5 SO: Southern Railway. $3.50; Union Pa
cifc q. 500. American Steel and Wire H.
rs: Brooklyn Rapid Transit. II $685. Fed
eral Steel. 81. f95; Peoples Gas. 1870;
Sugar. 50475.
Natu yark Efo1k THgf