The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-01-12
STOCKS AND BONDS.
After Opening RecessiOns the Gem
eraI Market Strengthens.

After Opening RecessiOns the Gem
eraI Market Strengthens.
New York, Jan. 1.-THE furious buy
ing of Delaware and Hudson and Ontario
and Western in the last half hour of the
market saved the day on the Stock Elk
change from something like positive dull
ness. After the recent high level of spec
ulative excitement, traders were unable
to distinguish the tone of the market
from dullness, so strong was the contrast,
and yet there were many notable ad-
vances in the prices of important stocks
and a scale of trading that would have
attracted marked attention previous to
last November.
The recent attempts to awaken a gen.
eral speculation in the Southwesterns
commensurate with that which has oc-
CURED in other groups were apparently
abandoned to-day. The general decline in
the buying demand led to large selling to
take profits, and except for the special
points of strength the market was under
considerable pressure from this selling.
A growing skepticism regarding many
of the confident statements which have
been circulated regarding coming com
binations in the railroad world was a
foremost motive of the selling. Condit-
ions led rather to a waiting policy than to
any very active aggression on the part OF
the bears. Their accounts are already so
extensive that the buying to cover shorts
by that element serves as an effective
prop in the market at any considerable
recession. The timidity of the bears Is
also due to prevalent belief that the
many rumorS current of important de-
velopments in railroad consultations yet
to come have a basis in fact. The mar
ket, therefore, showed no acute weakness
at any time and the proht-taking was
well absorbed under the sustaining power
of the special strength At various times
during the day this was shown in the
Pacifcs, especially Union Pacific, in Bal
timore and Ohio, Chesapeake and Ohio
and Norfolk and Western, and in num-
Der of less prominent stocks including
Cleveland, Chicago and Cincinnati Chi
cago and St. Louis New York Central
and Omaha, on light dealings. The abb
sorption of Ontario and Western was
very large and confident, and was by
brokers credited with acting for the COM
handing figure in the anthracite situation.
The increase of per cent. in the yearly
dividend on Delaware and Hudson caught
a large short interest and there were wild
fluctuations in the stocks under the dis
tTeSSe0 DluulnR ny lulS tleIleIl. ouCCeS-
sive jumps of a half and even a full
point carried the stock up to l57 and af-
ter reaction of 3, up again to 1914,
where it closed. The net gain is thus IA
points. The other coalers sympathized,
especially Ontario and Western. the
Readings and the Fries, the latter having
been reactionary in the earlier part Of
the day. The extreme advances were On
tario and Western 31s, Erie second pre-
ferred, Az Erie first preferred, 39s and
Erie common and the Readings about 2
points each. Union Pacific rose to the
best price of the day at the closing, be-
ing then points above the lowest, but
the market generally did not close at the
top.
The indications Of gain in cash by the
banks of over 100000 during the week
was without special effect on the market,
as the increasing ease of money has
clearly indicated an abundance of funds
The bond market was firm but not very
active Total sales par value $3,O25,OOO
United States bonds were unchanged on
last call Total sales of stocks were 1,l22'-
100 shares. including Atchison, 11.700; At
Gibson preferred. 1880; Baltimore and
Ohio. "A, 800; Chesapeake and Ohio, 1920;
Chicago. Burlington and Quincy. 1850;
Rock Island. 10 300 Delaware and Hudson,
&C. 700; Erie 30, 800; Erie, first preferred, 25,-
100; illinois Central $500; Louisville and
Nashville, 2s, 800; Manhattan, 1890; Metro
politan Street Railway, 3,4O0; Missouri
Pacific 22.2OO: Missouri. Kansas and
Texas preferred, 1850; New York Cen
trial, 10 9OO Norfolk and Western, $1,000;
Northern Pacific, 1880; Northern Pacific
preferred, $500; Ontario and Western,
l65. 500; Pennsylvania, 196O0 Reading. H.
200: Reading first preferred, 1880; Read
ing second preferred, 800; st. Louis
Southwestern preferred. 1880; st. Paul,
s.. 800; Southern Pacific, 2l,7O0; Southern
Railway $780, Texas and Pacific, 1880;
Union Pacific, 10000; Union Pacific pre-
ferred. $40; Wabash preferred. 500;
National Tube, 5000; Amalgamated Cop
per, 1880; American Smelling 1890;
American Tin Plate, 300; American To-
bacco, $1,000; Brooklyn. l2,40O; Continental
Tobacco 49, 400; Federal Steel, 500; North
American. $500; Peoples Gas. 5000;
Sugar $4,000: Tennessee Coal, 9,l0O U.
S. Rubber. 600: Western Union, 1890.
New York Stock List.