The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-19
STOCKS AND H0NDs.

New York, May 1S.-The stock market
commended successfully against the marked
depression of 4he early dealings and
showed increasing strength as the day
advanced. Early losses were retrieved
and the close was fairly buoyant with
burst OF buying orders in volume and
urgency exceeding that for a long time
past Very notable net gains are shown
by number Of the specialies and in
dustrials, while the railroads generally
are from fraction TO over points
higher.
The early depression had its inception
In London, where stocks were sold down
sharply. Corresponding losses were
shown at the opening here and che beans
were in an aggressive mood with this en-
enlargement and prepared to continue
their operations against recent weak
points in the Industrial list. Sugar and
Tobacco We're both sold down sharply,
but they met support of a character
which has been lacking for several days
past. An unwieldy short interest has
been formed, especially in Tobacco, in
the course Of its recent severe decline,
and when the stock began to move up
ward the demand from the bears became
precipitate
The aggressive strength developed in
some of the New York city stocks added
10 the confusion of the bears. Brooklyn
Union Gas moved upward 5l5 points and
Consolidated Gas Ga. to a level far above
that touched by this stock for many
months past. Even the steel industrials
were bought and moved upward general
ly over a point. The bears abandoned
their efforts 10 keep down prices and
rushed to cover all through the list, maxi
ing the buoyant close The large buy
ing of Burlington was the feature Of
the railroad list, but there was a well
distributed demand for railroad stocks
during the latter part of the day and
the sudden jump in the prices of some of
them indicated the uneasy demand from
short interest.
The usual weekly forecast of the cash
changes of the banks was a potent fac
tor in the days strength of stocks Il
is expected that the gain by the clear
ing house Institutions will amount to
about $500 900, after allowing for a loss
20 the sub-treasury of about 100000, in
GLIDING the payments for gold bars for
exports. The movement of currency from
the interior is counted upon to yield the
estimated gain TO banks. Owing to the
failure of last weeks money market TO
reflect the placing of the large loan to
the Pennsylvania Railroad Company, said
to amount to $4,000, 000 it was expected
that this item would be reflected in this
weeks loan account Of the banks, but
the continued ease of money does not in
dicate a large soan expansion and the lex-
PLANTATION Is offered that the PENNSYLVANIA
loan has been put again in large part
pending the period for It's use. No gold
exports were announced for to-morrow's
English steamers, and sterling exchange
fell lower. The strong return mode to-
day by the Imperial Bank of Germany
kept pace with che improved condition of
the English and French institution and
affords relief from apprehension of any
further gold export at present.
The bond market responded to late ac-
tivity and strength in stocks. Total sales,
par value, $l,725.00O
United States refundlng 2s, when is
sued, advanced Il and all other issues,
except the IS, coupon, u I'm the bid price.
The total sales of stocks We're 433 100
shares, including Atchison. $3.50; Atchi-
son preferred q, S25; Baltimore and Ohio,
$780, Burlington and quincy, 2052O; Nor
folk and Western. 9,195; Northern Pacific,
l6,340; ST. Paul. 1920; Southern Pacific,
$500: American Steel and Wire, 9.0s5;
American Tobacco. 92.795; Brooklyn Rapid
Transit, $3.50; Continental Tobacco, 9,l79;
Peoples Gas, 1885, Sugar. 6o.SS0.
New York Stock List