The Savannah morning news., 1901-06-13
STOCKS AND BONDS.
Day FeatureIess with Sales of 643,-
800 shares.


New York, June 12.-The stock market
fell into semi-stagnation during the lat
ter part ofAthe day, and the gains which
were established in the morning were
pretty GENERALLY wiped out under the
dribble of selling orders which came
upon a market bare of demand Various
points of strength made their appearance
during the day, but they lost their in
huence in sustaining prices. The more
cheerful feeling in london this morning
was quite a noticeable influence in the
opening dealings.
Rumors have been persistent for sew
eral days now that peace is approaching
in South Africa. To appreciate the i'm
portance of an adjustment of the long
drawn out struggle there, that is for the
world of capital, ii must be borne in mind
what enormous demands the British gov
eminent makes on accumulated capital
for the conduct of the war as well as the
absolute cutting off of an important pro-
portion of the worlds gold product while
the war lasts. The large disbursements
by the government on war account COM
bined with transfers of Russian deposits
from Paris, is what has given the Lon
don money markets its present ease, and
has led to some expectation that the Gov
ernors of the Bank of England will fur
Their reduce the minimum discount rate
at to-morrow's weekly session. A 10 per
cent. installment, amounting to $30O00,-
900, of subscriptions to the new consol
issue is due on Tuesday next June 49,
and the demand for money which will re-
suit is a factor against the reduction in
the bank rate. ....
In the local market the London influ-
ence soon spent itself The most notable
features OF the market were Missouri
Pacific and Pennsylvania, which each
rose as much as 21s at one time. The
supposition in the street is that the Mis-
souri, Pacific viii meet next Monday and
put the stock on a 8 per cent. basis.
Stocks of affiliated companies showed
some sympathy, especially the Denver
stocks. The movement in Pennsylvania
was due 20 to-days reports of the ac-
QUESTION of the Pennsylvania Steel Com
pany by the railroad company to safe
guard its steel rail supply. The United
States Steel stocks were rather signifi-
cantiy heavy, but the stocks of indie
pendent companies shot up in a strik-
ing manner. The movement in Colorado
Fuel was sensational the extreme rise
reach 1871. and the jumps between sales
reaching as much as 2h points. A VIC.
lent reaction left the stock only Slb net
American Car stocks, the Republic Iron
and Steel stocks. Sloss Sheffield and
Smelling between / and 2 points. The
dealings in Colorado Fuel were for Chicago
account. National Lead continued to
show the effect of expected benefits from
Standard Oh control OF American Lin
seed
The New York public utilities were
strong on the hope of escape from the
xrfuf1s -~f 4 b..
western preferred recovered points of
yesterdays 10 points loss. Movements of
any Significance outside these stocks
were confined to a few rarely active
stocks. The preliminary statement OF
the May exports of agricultural products
showing an increase over May Of last
year of over 81 10000, and the govern
ments weekly crop bulletin, reporting
needed rains in the districts shown to be
suffering by the monthly report OF June
l, seemed to warrant an assumption Of
increased values for securities, but they
had little effect in checking the dropping
tendency from the opening high level. and
the price changes for the day are some
what mixed between gains and losses, ana
are small in all cases outside of the spe-
cial features indicated.
Mexican Central income bonds were
heavily bought, but the general bond
market was dun and irregular. Total
sales. par value, 1856 900. United States
bonds were all unchanged on the last
call.
The total sales of stocks to-day were
GAS, 300 shares, including Atchison, 10 100;
Denver and Rio Grande preferred, 261O0;
Erie, IS. 100; Louisville and Nashville. L.
200; Manhattan, 20100; Metropolitan
Street Railway, 1900; Pennsylvania, 1Os,-
500 Reading. 900; Southern Pacific, 21.-
200; Texas Pacific, 1900; Union Pacific, H.
200 Amalgamated Copper, II 1900; Amer
lean Car and Foundry "a 100; American
Tobacco. 1850; Brooklyn, 24,SO0; Colora-
do Fuel, 1890; Continental Tobacco, 1900;
National Lead 1890; Republic Steel TO-
sO0 Sugar, $500; Tennessee Coal, 147OO;
United States Steel, 10000; do preferred,
$500.
New York stock and Bond List.