The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-02-06
STOCKS AND BONDS.
The Market Continues Active and
Generally Advancing.

The opening bulge in prices met with
a decidedly discouraging reception and
some of the leading stocks of the list
were carried below last nights level I'M
der the heavy burden of proft-taking sales
and operations by the bears. Yesterdays
leaders in the speculative advance.
including Louisville and Nashville,
Atchison, Union Pacific and Rock
Island, were all carried below last
nights level, and the dropping tendency
of Southern Pacific became more manifest.
With weakness in these important stocks
after yesterdays large buying in them
for speculation. the whole market neces-
sarily made some response and the earlier
gains elsewhere were largely cuuailed.
The steel stocks showed themselves not
so yielding as those in other portions of
the list, and when the force OF the sell
ling movement had expended itself the
recovery in the steel stocks was an inn
portant influence on the market. Buy
ing was credited to insiders aud there was
a recurrence of recent rumors OF a COM
ing wholesale consolidation of the great
corporations in the trade
The opening rise In the Southwesterns
was not 50 well maintained, although Mis-
souri, Pacific made a strong recovery later,
rising to 9l7sc and the Wabash securities
were very largely bought. 1t was rumor-
passed to the control of the Missouri Pa
cifc of St. Louis Southwestern, and the
lately prevalent rumors of a general con-
solidation of the Southwestern Railway
system still retained their force in the
speculation. Chicago and Eastern Illinois
rose 514c and the preferred nc. A squirt
of sac in Tobacco about midday was
feature.
There were a very large number of
.A1 4
vanced sharply under the prevailing i'm
preston that absorption Of such roads by
the larger railroad systems is the order
of the day. Hooking Valley rose AS; do
preferred, ga; Minneapolis and st. Louis,
21s; Evansville and Terre Haute, s; Lake
Erie and Western 2, and quite an extend
ed list from l to 2 points
The most important movement of the
day was in the later dealings when the
coalers and Pennsylvania developed sud
den and aggressive strength. after show
ing symptoms of heavness all day on
statement that the dividend on Reading
first preferred would not be increased for
the present. The movement seemed TO be
based on rumors as to the disposition of
Lehigh Valley, different reports assign
ing 1t to LackaWanna, Reading and Erie
Gains on the movement were 312 for Lack
awanna for Delaware and Hudson and
from l to for other members of the
group. The movement In Pennsylvania
was not explained, but it resulted in an
advance of points. Union Pacific and
Southern Pacific also succeeded in throw
ing of their depression. the former ad-
vancing to 81 and the latter to 49, through
heavy offerings in both cases.
A furry to per cent. in the call money
rate was not much needed, although il
calls attention to the fact that last weeks
enormous incursion into the reserve forces
by reason of the loan expansion of over
100000 was a reality to be reckoned
with. The reaction in sterling exchange
and the impression that an outward gold
movement to London is averted for the
present owing to the decline in the money
rate there, helped to offset the effect Of
tn firmer tone of the local money mar
ket.
The absorption of middle and lower
grade bonds continued very heavy and at
advancing prices. Total sales par value.
NnO,0OO L. S. 3's advanced a per cent.
on the last call.
To-day's total sales OF stocks were l.
$4,000 shares. including: Atchison 1874
700; de preferred 29,1O0; Baltimore and Ohio
800; Chicago, Great Western l220O; Chi
cago. Burlington and Quincy 10000; Chica-
go, Rhode Island and Pacific, H. 100; Den
yer and Rio Grande 1890; Erie S. 100: do
1rst preferred, 26,l0O; Hooking Valley g.
700; louisville and Nashville 25,4O0; Man
haitian 29,l00; Mexican Central 800; Mis-
souri, Pacific 267O0; Missouri, Kansas and
Texas 2,4o0; do preferred 1880: New
York Central 1890 Norfolk and Western
1890; Northern Pacific 24,1OO; Ontario and
Western 1880; Pennsylvania SO, 400; Read
ing $1,000; do first preferred, ii, 800; do Sec
ond preferred, 1880; ST. Louis South
western $500; do preferred IL 800; ST. Paul
1900; Southern Pacific $1,000; Southern
Railway $500; do preferred Is 800; Texas
and Pacific 25,SOO; Union Pacific 79. 800;
Wabash 1890; do preferred 40,5OO: Smelt-
ing 10000; Steel Hoop $500; Steel and Wire
$500; American Tobacco 62100; Brooklyn
Transit S1,60O; Continental Tobacco $1,000;
Federal Steel 1900; do preferred 10 800:
National Steel 1890; Peoples Gas IS 500:
Sugar 1890; Tennessee Coal and Iron 49,
100