The Savannah morning news., 1901-03-31
STOCKS AND BONDS.
The Market Irregular With a sky
ward Rise in Rock Island.

I
ward Rise in Rock Island.
New York. March S0.-There was few
erish tone in the stock market throughout
to-days two-hour's session, and violent
manipulated was in evidence from time
to time to check a reactionary tendency.
Heavy realizing was manifest in the open
ing dealings, especially in Burlington
Northern Pacific and the United States
steel Etocks These stocks maintained
theiY recent prominence in the trading
SO Ehat their downward course had a
c3respondingly large effect on the gen.
e/al market.
Burlington was bid up suddenly to ~
>over last night, about midway of the ses-
! siep, touching a record price at 1761a. but
I it quickly fell back under the flood of
realizing offerings, and closed with only
a fractional net gain. There was a vio-
lent rise at the same time in the local
traction stocks, Lake Erie and Western
and Tennessee Coal. Realizing had al
ready affected these advances before the
appearance of the bank statement. The
bears sold the market on the large inroad
made upon the surplus reserves of the
banks, and caused declines running to a
point in some cases. Supporting orders
were met and the rally was made effec-
tive by a sudden and violent rise in Rock
Island to 1856, an advance over last night
of 6A points. Atchison was marked up
IA at the same time. A revival of old
rumors of a combination between the two
systems accompanied the advance. Rock
Island fell back sharply on realizing, and
the closing of the market was feverish
and irregular. with proft-taking in force
at some points in the list
The United States Steel stocks did not
huctuate more than a fraction, but the
dealings in them were very large. There
were wide advances in a number of high
grade and unusually inactive stocks, in
GLIDING Lackawanna, Morris and Essex,
Pullman and Colorado Fuel preferred, run
ming from 81 to 10 points, the latter fig
ure for Colorado Fuel preferred. The
decline in the cash reserves of the banks
was less than had been estimated, but
the loan expansion Of $4,000 made ad-
reserve requirements and so en-
croached upon the surplus.
The strength of the bond market has
not been so conspicuous and so general
this week, but points of strength have
continued to develop. United States re-
funding rs coupon advanced ". and the
IS old and new As, u per cent. over the
closing call of last week.
The total sales of stocks to-day were
1890 shares, including Atchison, 22,600;
do preferred, 17.10o; Burlington, 3e, 800;
Northwestern, $500; Rock Island, 40, 100;
Delaware and Hudson, 13,600 Erie, g. 500;
Louisville and Nashville, $500; Manhat-
tan, 67,1OO; Metropolitan, 1880; New York
Central, $500; Northern Pacific, 1900;
Ontario and Western, 800; Pennsylvania
II 200; Reading, 6.4OO; do first. 1S.4OO; do
second, n,S0o; st. Paul, 1920; Southern
Pacific, 1880; Southern Railway, $780, do
preferred, 1900; Texas and Pacific, g. 400;
Union Pacific, 800; Shelters. 10,S0O; To-
bacco, $500; Brooklyn. S1,7Oo; Pressed
Steel Car preferred, $500; Sugar. $500;
Tennessee Coal and Iron, "a, 100; Western
Union, $500; United States Steel. 80, 100;
do preferred, $4,000; Republic Iron and
Steel, 5000; do preferred, 6,700.
New York Stock List.