The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-01-21
WEEKLY MARKET REVIEW.
Stocks Unsettled and Sharply Lower.
Cotton Quiet-Wheat Weak.

stocks Unsettled and Sharply Lower.
Cotton Quiet-Wheat Weak.
The stock market has been active and
feverish-Sn the week. There were more
or less strong spots every day, and
high records We're attained in a number
OF cases; but in the main a weaker tone
prevailed, and at the close nearly every
thing is lower, sharply so in the ma
jority of cases.
Whatever beneficial effect in the iron
stocks might have been derived from the
5 per cent. dividend or Federal Steel, early
in the week, was nullified by the an
nouncement of a projected bond issue by
the company. Federal Steel itself closed
about points lower, despite an effort
to boost it late by a report of a pro-
posed combination with American Wire
and other concerns. Tin Plate broke over
points in the face of an per cent
dividend where only had been expect
ed; Colorado Fuel and Iron fell points,
the other iron stocks show only minor
changes.
denial of the much-heralded combi-
nations in the NV York fractions, and
Western roads, caused sharp declines in
securities most intimately concerned
Manhattan, Metropolitan and Brooklyn
all fell 10 to IL points, while st. Paul lost
s points. Other important declines in rail-
roads were points in Rock Island, in
Delaware and Hudson and in Union
Pacific. AS a general thing industrials
were less acutely affected, but Sugar lost
8 points and Western Union 512.
The market on Saturday opened strong
with sharp advances in Steel stocks, and
Southwestern roads. Missouri Pacific rose
to SO, nearly points above the previous
weeks close. Under heavy selling, both
to realize ard for the short account, a
very weak tone developed, and the mar
ket was pretty we'll demoralized at the
close. The alarming news concerning
Queen Victoria's condition had very
depressing effect legitimately, but the
bears also circulated false reports of an
alleged relapse of President Mckinley.
The bank statement was mixed in it's in
fuence, being very favorable in showing
large increase in cash, and in the re-
serve, but the reverse in showing an ex-
pansion of over 100000 600 in loans.
General opinion seems now to have
changed over to the bear side; but apart
from wild speculative rumors intrinsic
conditions are as bullish now as ever.
Railroad earnings continue to improve,
and increased rates of dividends in most
cases Justify recent high prices; and at
the same time general trade prosperity
shows no falling off, with money cheap
and abundant Apparently, therefore.
there is no good reason for adopting any
extreme pessimistic view of the present
situation. There are plenty of big men
behind the market and they may be relied
upon to bring the bears up with a jerk
when the proper time arrives
Cotton was very quiet, as rule on
Tuesday. there was some decided weak
ness January going to bic, and May to
q 22c Later. a firmer tone developed, ana
the loss was mostly recovered. closing
quotations showing only few points de-
cline The weeks movement was about
49, 900 bales more than last year. but some
now predict falling off from last years
movement This however, remains to be
seen; the country may sell more freely,