The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-02-05
STOCKS AND BONDS.
The Market Very Active. with the
Closing Rather Easy.

New York, Feb. 1.-The stock market
was under the influence Of the news cf
the syndicate in the interests of Union
Pacific. Notwithstanding the plain cor
roboration by the tape on Friday of the
rumors of the deal" the spectators were
not without doubts and the official ad-
missions after the market had closed on
Friday found the street in a state OF un-
preparedness. The natural consequence
was a large and excited demand for
stocks at the opening to-day.
As result of the accumulation of buy
ing orders in commission Offices since
last Friday there We're wide openings in
various stocks under the excited bidding
of competing brokers' They bought IL, 500
shares of Union Pacific upon the fall of
the hammer at simultaneous prices of
SS7s and 1914, compared with S7s4 on Fri
day night
The opening price in Southern Pacific
was the highest, that stock selling at
both 4Ha and A on the transfer of 5000
shares. The demand came from London,
and the opening price here was consid-
erably below the parity of that establish
ed in London this morning Opinion in
Wall street does not lean to the conclu-
sion that the sale of the road is for the
benefit of the stock which remains OH
the market, as it constitutes a minority
stock Of road presumably to be operat-
ed for the best interests of Union Pacific
The professional spectators took an ac-
tive part in the market, with the advant-
age offered of the large outside demand
for stocks attracted by the Southern Pa
ciffc deal. In their manipulation to ad-
vance prices, one operator made dem
onstrative bid for 10000 shares of Union
Pacific at 30. 1t was quickly supplied in
a single block, and as "A consequence
Union Pacific ruled below that for the
rest of the day.
The completion of the Southern Pa
ciic transaction caused additional Gre
dence to rumors of other similar transact
tions. 1t is highly probable also that the
Likelihood of further such transactions Is
increased by the fruition Of this plan The
large demand for Atchison and for Rock
Island was attracted by this probability
The movement in these two stocks was
on the whole, the most conspicuous of the
day. The advance in Atchison reached
35s and in Rock Island 2S4 on very large
dealings. The movement in Louisville
was apparently based on the fact thai it
has had no considerable rise since its divl-
dehd has been increased. The buoyancy
of the Chicago Great Western stocks gave
color to recent rumors that it is to pass
to the control of some larger road. The
common stock advanced ~, the preferred
A 312 and the preferred S3s.
The rise in the railroad list which was
very general in sympathy with the move
ments, invited heavy realizing and the
bull spectators turned their attention to
other quarters of the list to sustain the
market. The most conspicuous result of
this operation was shown in the local
fractions, Brooklyn Transit and Manhat-
tan rising 37s each and Metropolitan 212.
There was a period of activity and
strength in the steel stocks, which lifted
them l to 334 Rumors that the threaten
ed conflict in the steel trade had been
averted by agreement helped the move
ment. The whole market was inclined to
run off in the late dealings on realizing
and the closing was rather easy.
The inroads upon the money market,
shown by last weeks enormous loan ex-
pansion, as a result of the heavy finan-
cial operations, gives some weight to ex-
pectation of future developments in the
money! market. Sterling exchange con-
tinued to advance. Notwithstanding an
easier money market in London, and the
possibility of gold exports this week IS
still considered.
The railroad bond market was strong
and slightly more active than on Friday.
Total sales, par value. S310,000. United
States bonds unchanged
The total sales of stocks were 413, 500,
including Atehison, 145, 800; Atchison pre-
ferred. 1900; Baltimore and Ohio, $500:
Canadian Southern $500; Chicago Great
Western, 15,700; Burlington, 2l,000; Chi
cago. indianapolis and Louisville, 1900;
Rock Island 30 800; Erie, 11160; Louis
Vile and Nashville 49, 100; Manhattan. A.
100; Metropolitan Street Railway. 500;
Mexican Central. 1850; Missouri Pacific
IA 200; Mobile and Ohio, 5000; Missouri
Kansas and Texas, 34S00 Missouri Kan
sas and Texas preferred. % 100; New York
Central, II. 800; Northern Pacific. 2l,J00;
Ontario and Western. 5,4OO; Pennsylvania.
10. 100; Reading, 500; Reading first pre-
ferred, 1880; Reading second preferred
9 200; St. Louis and San Francisco, 7100;
St Louis, Southwestern preferred, 500;
St Paul. 1900; Southern Pacific, IL. 100;
Southern Railway, g. 100; Southern Rail-
way preferred, $500; Texas Pacific. 81, 100;
Union Pacific. Isl, 200; Union Pacific pre-
ferred, 500; Wabash, $500; Wabash pre-
ferred, "a, 500; National Tube, 21,000; Anal
gamated Copper, $500; American Steel
Hoop, 740O; American Steel and Wire, So
200; American Steel and Wire preferred,
1880; American Tobacco, $500; Brooklyn
Rapid Transit, 5000; Colorado Fuel and
Iron, 500; Continental Tobacco, HOO;
Federal Steel $500; Federal Steel prefer
red, $500; National Steel, $500; Peoples
Gas, 1890; Sugar, 1900; Tennessee Coal
and Iron $500.
No I "A