The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-08-17
STOCKS AND BONDS.

New York, Aug. 16.-The setback in
prices which occurred to-day. while in
fiuenced in a measure by the less fav-
orable aspect to the strike situation,
was primarily due to proft-taking sales
on the weeks rise. improvements have
been made in prices from day to day.
and the resultant sharp gains showed
some striking profits on the long ac-
count up to last night. Bear selling
had not been effective in checking the
Improvement, and it required only the
announcement that the Joliet steel
workers had reconsidered their decision
not TO go out as pretext to sell the
market Naturally enough, the West
ern and Pacific stocks which had made
the largest gains recently, had to take
the brunt OF the selling. But little rail-
lying power was displayed by these
stocks at any time during the day, tenn
porary gains being Immediately can
celled by renewed sales for both ac-
counts. Their losses at the low point
average little more than / per cent,
st. Paul figuring for the extreme de-
cline of 1%. While the Western di-
vision was generally under pressure,
there was heavy buying at times of the
bituminous and anthracite coal stocks.
causing an Improvement in Norfolk and
Western of is and Wheeling and Lake
Erie issues Of 2@3. Southwestern rail-
road stocks were less prominent than
heretofore, and the announcement of
the acquisition by the Wabash of the
Omaha and st. Louis Railroad failed
to strengthen the Wabash issues. There
was heavy purchases of Amalgamated
Copper late in the day. and the stock
q N n
in which the company figured had Sc
cured control of the copper production
of the country. Its top figure was not
maintained, the price running off a
point near the close. Sugar underwent
many wide changes during the day.
and after at one time selling a point
above yesterdays close, ended a point
lower. There was no news to account
for the conspicuous strength of Peo-
pies Gas. which improved "a in face
of the heaviness elsewhere. Reports
that the United States Steel Corpora
ton had secured control of the Re
public Iron and Steel Company caused
more active dealings in the latter
stocks, and they ended point each
higher. Large blocks of United States
Steel issues were dealt in at the OPEN
ing, and it was at this period that the
low price of the day was made for the
common. One block of $500 shares
came out at 43%, but when 1t got down
to 43%, which indicated a loss over
night, the stock was supported and did
not yield below that, price, although 1t
failed to recover to any extent when
there were occasional rallies elsewhere.
The final price was the lowest and
the preferred closed only " above the
lowest and is 9s down on the day. The
preliminary figures of the weekly bank
statement indicated gain by the
banks of $717,11S. This represents only
the result of the interior movement,
as the banks have lost pretty steadily
to the sub-treasury throughout, de-
spite the heavy government expendt-
lures of the week. A sharp decline oc-
Cured in the sterling exchange mar
ket, demand bills falling to $4.S1s on
the large offerings of bills. There was
no demand to speak of, and prices were
reduced pretty steadily during the day
by drawers. The stock market was
very dull in the closing dealings and
ended weak.
Railroad bonds were dull and gener-
ally easier. Total sales, par value, ST.
145, 900.
United States bonds were all I'M
changed on the last call.
Sales of stocks to-day were 463,OOO
shares, including Atchison, 20, 1000; do
preferred, $500; Chesapeake and Ohio,
IA, s0O Erie, 31,50O; Missouri Pacific. g.
900; Ontario and Western, $4,000; Penn
sylvania, 6,400; Reading, 10, 700; do first
preferred, 1900; st. Paul, 29,600; South
ern Pacific, $4,000; Southern Railway,
276Oo; Union Pacific, 10000; Amalga-
mated Copper, 30.500; Anaconda Min
ing Company, $500; Peoples Gas. $500;
Republic Steel, $500; do preferred. s.
900; Sugar, 1900; United States Steel,
rs, 300; do preferred, 10000.
New York stock and Bond List.