The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-08-27

always be depended on to produce this
result. Equally matter of course is
the tendency of the professional trad
ers who have been accommodating stocks
and carefully ursing the marketing
during the rise, to unload their hold
ings on this outside buying so as to
make sure of portion of their profits.
This process was very obviously going
on during the first hour Of the market
to-day, which was the most active OF
the day.
Some recession in prices resulted,
but the market on the whole took the
realizing very well and no serious in
roads were made upon prices. After
wards there were new advances here
and there and the market gave the APP
parance generally of being still in the
control of the bulls. The buying de-
mand, however, became languid and
then almost torpid, and the market
proved easily vulnerable to attack by
the professional bears. In the last hour
prices were quite generally below Sat-
urday's level. A substantial rally fol-
lowed, but this again proved somewhat
short lived. and the closing was irreg,
ular and quite active with speculative
sentiment manifestly much unsettled
There were Various favorable factors
which aided the bulls in opening prices
higher. The failure of the steel workers
in South Chicago to strike and the re-
ports of an intended conciliatory at
tempt by the strikers themselves af-
fected not only the steel stocks, but the
whole market. The rise of United
States Steel in the final dealings to ~
over Saturday was effective in check
ing the raid of the bears. London led
off with good buying of Americans
after it's Saturday holiday. Rumors
were rife of coming definite announce
ment of plans growing out of the
Northern Pacific settlement. The ap-
preaching September advance in the
price of anthracite helped the Coalers
and the Fries were also affected by the
reported acquisition of the Cincinnati
Hamilton and Dayton. The reaction
was due to the apprehension that mon
ey was destined to work closer from
this time on. 1t was also feared that
the large interests, who have been fos-
tering the rise, had taken the opportu-
nifty to realize on Saturday and this
morning and would retire from the
market until the autumn demands for
money are satisfied. London has grown
optimistic and expects easy money
through the fall, but the expectation is
based on the hope that New York will
not draw gold and takes no account OF
the rumored Russian loan at Paris.
An interview with Secretary Gage
published this morning in which he
processes to see no reason for depart
ure from the present policy of this de-
partment of purchaing bonds, some
what dashed the hopes Of an element
in Wall strete which was expecting re-
lief from that quarter.
Railroad bonds showed a considera-
BILE increase in activity. Gains were
somewhat affected by the late reaction
in stocks. Total sales, par value, S.,
500, 900. United States new As advanced
Il per cent. on the last call.
Total asles of stocks to-day wer,
| 1856, 100 shares, including Atchison, 3S,
| 600; do preferred, 500; Baltimore anC
Ohio, $500; Erie, $1,000; do first pre-
ferred. 1890; do second preferred, A.
700 Mexican National, $500; Manhat
tan, $500; Louisville and Nashville, T..
900; Missouri Pacific 5000; Norfolk and
Western, 1880; Ontario and Western
Is, 100; Pennsylvania, 1860; Reading
q, 300; Reading second preferred, 15,400
st. Paul, %, 600; Southern Pacific, S4,0 900
Southern Railway, 81 800; Union Pacific
AZ, 500; Wabash, 3, 100: Wabash preferred
Is. 400; Copper. $4,000; Smelling. 14,2OO;
Anaconda Mining, 6,4OO; Brooklyn
Transit, 100; Consolidated Gas, $500
Peoples Gas, $500; Republic Steel. g.
800; Sugar, 5000; United States Stee
Sc, 700; United States Steel preferred
q, 900.