The Savannah morning news., 1901-01-06

of the conviction that ST. Paul Is to pass
TO the control of the Northern trans-con-
tinental lines has made the speculative
mind open TO almost anything in the way
of rumors regarding railroad combinations.
Capitalists who have been influential In
the st. Paul deal are supposed to have
additional far-reaching plans. These sup
posed plans were made the basis of to-
days extraordinary movement. The au-
thorized announcement before the close
that ]. +. Morgan & Co. had secured con-
troll of the Central Railroad of New Jer-
sey in the interest of the Reading Com
pany, offered some basis for the runors
current. The Reading stocks were most
prominent in the opening squirt of prices.
the first preferred mounting points, the
second preferred Sh and the common 6Is.
The extreme advance in New Jersey Cen
trail was On In the heavy buying at the
opening there were advances also of
points in Missouri Pacific. SO in st. Paul,
So in Erie first preferred. 2Ss in Erie ,om-
mon, points in Erie second preferred and
"a. in Rock Island. Gains Of from ! to
points were numerous all through the
list
The eagerness of the selling to take
profits caused sudden and violent declines,
successive sales in some cases clipping
half to point from prices until they
were carried back to last nights level
or below. Meantime, there was growing
weakness in Sugar Tennessee Coal the
Rubber stocks and some other industrials.
The feverish excitement on the floor or
the Exchange was indescribable. With
prices in a state of wild fiuctuation, the
sense of insecurity became overwhelming.
Violent advances were followed by wide
rela pses and as sudden recoveries, The
evident instability Of prices increased the
disposition to sell and the favorable bank
statement was taken advantage or 10 tur-
ther unload. st. Paul reacted 51a from the
top. New Jersey 4. Northern Pacific 3}a
and Pennsylvania 3h. The Reading stocks
saved for the day net gains of 2dS points,
the Erie stocks gas Baltimore and ono
3ss, New Jersey, pa and Missouri Pacific
rs. Otherwise there was nothing import
ant on the side of gains and the lists
presents rugged line of net losses.
Railroad bonds have not escaped the re-
dictionary tendency of stocks and have
not shown as vigorous a tendency to re-
covery as stocks. United States new As
declined l per cent, IS coupon IA, reg
istered 2, refunding Is 15s and old As and
5s 294 below the ruling bid "A week ago.
The total sales OF stocks to-day were
1857 100 shares. including Atchison, 10, 700;
Atchison preferred 1900; Baltimore and
Ohio, $500; Burlington, 1850; Rock ISL
and, 81 100; Delaware and Hudson, 5000;
Erie. 1G2 600 Erie first preferred, $500;
Louisville and Nashville, 10000; Manhat-
tan, 10000; Missouri Pacific, 1900; New
Jersey Central. $500; New York Central,
II 200; Northern Pacific, $780, Northern
Pacific preferred, 5000; ontario and West
ern, 209O0; Pennsylvania, % 400; Reading,
JOG, 400; Reading first preferred, SO 800;
Reading second preferred, 1880; st.
Louis. Southwestern, 9,400; st. Paul, TO-
200: Southern Pacific 14500: Southern
Railway. $500; Texas and Pacific. 101O0;
Union Pacific. $1,000; Union Pacific pre-
ferred, 600; Steel and Wire, 5000; Tin
Plate, 12000 Tobacco, 1890; Brooklyn,
II, 100; Continental Tobacco, Il, 500; Fed
eral Steel, 1890; Peoples Gas. 11,s09;
Sugar, a, 400; Tennessee Coal and Iron,
II 600; Rubber, 5000