The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-12-12
STOCKS AND BONDS.
General strength Looks LiLeRenew-
ed BuII Campaign.

New York. Dec. 1.-THE demand for
stocks to-day was 80 large. so urgent and
so widely distributed as TO suggest re-
crudescence OF the bullish enthusiasm OF
the period Immediately following the
election. The motives Of this buying and
the strength OF the whole market was
somewhat mysterious
The anthracite group had its own par
ticular cause Of strength Ia tho circum-
stantial assertions OF the passing control
Of the Pennsylvania Coal Company 10 the
Erie Railroad and the consequent frustra-
ton OF the plan for n new railroad from
the coal regions 10 tidewater 70 satisfy
tho ideas OF the independent operators
regarding transportation rates. No au-
thoritativc confirmation could be had OF
the reports current. but the record OF the
tape was strongly confrmatory. New
Jersey cestral was an early exception 20
the strength OF the group. but recovered
later.
The Erie stocks and Ontario and West
ern. as being most Immediately affected
by tho threatened competition. led of IN
the movement Later IN the day Ihe
Reading stocks assumed the leadership
ana were absorbed In enormous blocks
general strength Was too striking TO he
explained a. sympathetic movement.
There was some demand for London ac-
count on the opening OF a new account
Incident 10 the settlement. but this buy
INK IS called professional arhi,rage oper-
alton and may originate either IN New
York or London.
The most marked effect was produced
on Southern Pacific, which opened ~ ~
and advanced later TO e. closing al tho
highest. The belief has prevailed In Wall
street that there was . very heavy short
account in some Of the railroad stocks
for which Western spectators we're
liable the speculation extending also in
to the steel stocks The bear account in
tho latter group has been aimed az hy the
advance this week and may have been
reached In the railroad group to-day.
Tho money market outlook continues
threatening 30 that the supposltion Is
aroused that to-davs buying II for the
account OF financial interests which are
independent Of the ordinary resources Of
tho money market The transfers Of cur
rency through the sub-treasury TO New
Orleans reached $500 to-day, the largest
sum OF any DAY IN the recent movement
The sub-treasury has already taken
from the market this week the sum Of
s.. rs 90 50 that the inroal on the re-
sources Of the banks promise TINS week
TO equal last week. The London exchange
rates a further fraction. This may fore
shadow an acqulescence In tho New York
demand for gold. The shipment from In
dia 20 London OF s. 5000 In gold In pay
meut for silver may be intercepted and
diverted TO the New York market. as was
done with the last similar shipment. The
strength IN stocks was well maintained
to the close. except in tho steel group.
The bond market was irregular. Total
sales par value S4o4s.eDo United States
refuuding Is coupon advanced = per
cent. on the last call
Total sales Of stocks to-day we're sli.-
700 shares. including Atchison 1925; At
Gibson preferred, 1880; Baltimore and
ohio. s 100; Burlington. $3.50: Rock Island,
900: Delaware. and Hudson. l2aSo; Erie.
i3isO. Erie first preferred. $3.50: Louis
vile and Nashville $50 Manhattan. p
40: Mexican Central. SEQ; Missouri Pa
clnc. ls eeD. Missouri kauHar ana Texas
preferred i0.sso. New York Central sos;
Northern Pacific. ~. 100: Northern Pacific
preferred, 6.if; ontario and Western. a.