The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-05-23
STOCKS AND BONDS.
Activity and Advances in the Minor
CoaIers.

New York. May 22-The stock market
fell still further into apathy to-day and
was only relieved from semi stagnation
by the movement In Erie stocks. ConsidL
ering the present indifference of the
speculative public to the market, the vol-
ume of transactions in ore must be ac-
cepted as significant. The professional
traders, at a loss to secure even a frac-
tional profit on a turn in the market,
flocked to the Erie crowd as the move
ment progressed and added their specu-
lative operations to the other buying Of
the stocks.
The opinion. however gained force ON
the Exchange that the movement marked
a resumption of operations for the ex-
tension of influence and control of exist
ing railroad systems The buying was
attributed to Wabash interests and there
were sundry circumstances which offered
some confederation. Statements were
published this morning to the effect that
controlling interest had been secured
in Lackawanna in order to afford an
outlet to the seaboard for the Wabash
and the Gould Southwestern system
This evidently represented an effort to
account for the recent strength of Wa
bash and it's Southwestern affiliations in
face OF the disappointment over the nom
declaration of a dividend on Missouri
Pacific.
1t has been stated with PARTICULARLY
for several days past that the buying
of Toledo, st. Louis and Western stocks
was for Vanderbilt account and it was
claimed to-day that control had passed.
t. a.
run over closely related territory and
the activity in their stocks favors the pre-
sumption that the problem Of their future
re ations and control is being worked
on out. The strength of Chicago Indian
apols and Louisville and of Chicago
Great Western stocks may have had a
bearing on the same problem. The
strength of the bituminous coal carrying
roads was directly attributable to the
declaration of dividend of IL per cent.
on the commo stock OF Hooking Val
ley. the first in its history. The Wheeling
and Lake Erie stocks, Norfolk and Wes-
tern and Chesapeake and Ohio all moved
upward in sympathy The strength of
the Readings was called in sympathy with
Erie with it's character as an anthracite
carrier, but Erie was the only one of the
group to maintain its advance. This
stock closed at the highest at a gain of
"a. Some of the individual blocks pur-
chased ran as high as 5000 shares.
A feature Of the day was a sale of
Northern Pacific at III compared with
1861 last night, but the stock dropped
back again to 100. An unpleasant i'm
preston was produced by a suggestion
that the authorities of the London Stock
Exchange would rescind the suspension
of rules for buying in of Northern Pacific
stock against the shorts. At the last
settlement, 1t will be remembered, the
difficulty on this account was adjusted
by allowing the shorts to carry over at
a fixed price. But this left their contracts
still uncovered and the buying in of
shorts for the next settlement which oc-
ours next week, would be the occasion
for renewed uneasiness. This suggestion
and the announcement OF $4,000 exported
gold had a part in the early heaviness of
the market The fact that there were no
additional gold engagements. contrary to
expectation, may have had some infiu-
ence in the later hardening Of prices. but
the vigorous advance in Erie was the
main factor. A number of minor indus
trial stocks were strong on very palpa-
bic manipulation. Des Moines and Fort
Dodge was lifted 2% and the Wisconsin
Central stocks 2 and ~. respectively, for
the common and preferred. In the gen.
ersl list changes are small and some
what mixed.
The bond market was not very active,
but showed some strength. Total sales,
par value, &.450.o00. United States new
As declined u on last call.
The total sales Of stocks were $4,000
shares, including Atchison. 1900; Chesa-
peake and Ohio, 81 400 Colorado Southern,
12,400; Erie, 247, 100: do first preferred, A.
600; do second preferred, 500; Mexican
National, 500; Missouri Pacific, 800;
Ontario and Western. 1900; Pennsylvania,
5000; Reading. 25,50O; do first preferred,
II 100; do second preferred, $500; st.
Paul. 710O: Southern Pacific, 11,1OO
Southern Railway. 6.100: Toledo ST. Louis
and Western, 800; do preferred, 5000:
Union Pacific, 34.1OO; Wabash 300: do
preferred, 30 400 Wisconsin Central, $500;
Amalgamsted Copper, 500; American
Car and Foundry, 1410o; American Lin
seed Oil. 1900: do preferred, 200; United
States Leather, 27.4O0; United States
Steel, 1890; do preferred. 10000
New York stock and Bond List.