The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-02-17
STOCKS AND BONDS.

New York Feb 16.-The dropping ten
dency of prices proved too much to be
overcome, and the majority of stocks snow
net losses on the day In the standard
stocks these losses are small, but the de-
cline from the early high range was con-
siderable. The opening was above last
nights level in sympathy with London,
but even in the initial transactions the
weakness of the local traction stocks and
of Pacific Mail served TO unsette the mar
ket.
Prices sagged pretty steadily from that
time Until the bear operators among the
room traders started to cover their short
contracts in the final dealings. This rail-
lied the level of the market from the low
est. out the movement was listless and
entirely without force London was not
encouraged by its good news from South
Africa 10 buy stocks here, and, in fact,
sagged in the home market. Cousols lost
all of their early gain. supposedly on the
imminence of new issue. But London
was disposed to take profits al all points,
even Rand mines showing sharp reac-
ton from the early advance There was
no occasion for surprise, therefore, that
the local market failed to hold the adj
vance on the South African news. The
bears had not as much ammunition in the
shape Of the weakness of special stocks
as they had yesterday, but the general
tone of The market was nevertheless reac-
tionary. The bears made inrcads upon
Pacific Mail and United States Rubber,
but otherwise no very wide breaches were
made in values.
The local Traction stocks were inclined
to rally with the cessation of pressure
against Third Avenue. Sugar was cratic
during the early part of the day, but be-
came firmer towards he close with con-
siderable effect on the general list. The
genegal public maintained its attitude of
apathy, was the main cause of the heavi-
| ness. Probably some vague uneasiness is
beginning to be felt also regarding the
winter wheat crop, because the ground is
| bare of snow, leaving it exposed TO the
cold
According to reports from the leading
banks, shipments of money by exports for
the week are nearly s1,000000 greater than
last week, while the receipts from the
interior by express have fallen off con-
siderably over 81 100000. This would indi-
| cate a net loss on the interior movement
of nearly 100000, bringing The total loss,
| including sub-treasury operations. over
| So, 0O0,0O0 II is known that some gold has
been received from Canada, which does
not figure in this estimate.
There was a good absorption of some
, dormant railroad bonds at advancing
prices, but changes generally were irreg-
! ular. There was an active market for
government bonds, presumably on account
of the passage of the refunding bill by The
| SENATE.
Total sales of railroad bonds par value,
| 80 OPS 600.
United States new AS advanced Il, while
old as declined Is in the bid price
The total sales of stocks were 3lS 500
shares, including Atchisou preferred, T.
i50 Baltimore and Ohio, $3.50; Burlington,
| 1860; Manhattan, 5l52; Pennsylvania, a.
| $50; 81 Paul. 5.425; Southern Pacific, 9,275;
! Union Pacific, 1890; American Steel and
| Wire, e.230; American Tobacco, 1880;
| Brooklyn Rapid Transit, 1i,16O; Pacific
Mail, 1O1sG Gas. ex-dividend, G562; Sugar,
| sc. 10; Tennessee Coal and Iron, $3.50;
| Leather, 1920.