The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-06-06
STOCKS AND BONDS
The Market Closes Weak Under
Pressure of Heavy Realizing.

The Market Closes Weak Under
Pressure of Heavy Realizing.
New York, June 5.-The strength of the
at one time during the day, diminished
decidedly after a while. When the check
was first decisively established there was
a notable falling away in the volume of
dealings, but there was a resumption of
activity before the close. this time on
the selling side, and the closing was
decidedly weak with some wide breaches
effected in prices.
The progressive decline In the strength
of the market is probably due to the COM
petion of realizing profits on various
heavy lines of stock. This profit taking
was clearly in evidence all day, every
demonstration of special strength in in
dividual stocks being taken advantage
of to prosecute the selling elsewhere.
Stocks which have shown the greatest
strength recently were naturally most af-
fected by the realizing 1t was current
report that much of the buying to-day
and for some time past represented
covering of a very heavy line of short
contracts by an interest which took the
bear side of the market last week in the
incipient stage of the RISE arguing that
technical considerations called for a re-
action at that time. The sustained adj
vance since is said to have driven this
interest to cover at large loss. The clos
ing out of this bear account also remov-
ed an important sustaining influence from
the market and contributed to the vul-
nerable condition. which invited renewed
attack by new Corners to the bear ranks.
The sharp advance scored in a number
of insignificant low priced stocks during
the earlier part of the day pointed clearly
to manipulation in the interest of the
realizing process, but there were also
many notable points of strength developed
in the market in high grade stocks. The
most sensational upward movement was
in Rock Island The late squirt in that
stock to 1751l had a momentary influence
in stiffening the list after it had touched
the low points of the day to that time,
but as soon as it was perceived that the
Rock Island movement was without eff
feet the selling was renewed with redou-
bled force. The admission of new inter-
ests to the directory of Rock Island was
pretty clearly foreshadowed, but the ex-
ira stock issue was an entire surprise to
the street. The movement in Atchison
was more gradual and on larger dealings.
Rumors of lease to Union Pacific per-
sisted and the adpllssion to the directory
OF a InefHDeT Oh I16 DdNhlik llALH WHICH
represents the Northern lines of Pacific
railroads was regarded as significant of
the progress being made toward commu
nifty of interest in that territory, as a
result of the adjustment of the Northern
Pacific quarrel. Atchison's extreme rise
was AZ. The story of Missouri Paclfc's
control of Southern Pacific and a rumor
of the exchange OF Missouri Pacific stock
for the Denver and Rio Grande stock
were an influence In that group of rail-
roads. Pennsylvania was affected by the
published opinion OF an executive officer
lately returned from Europe of good
prospects for the coal export trade. Ex-
ecutive changes in the Erie were taken
as foreshadowing Improvements in opera
ton. The strength of Illinois Central was
based on comparison of its low price with
other railroad stocks in the same cate
CORY. Amalgamated Copper suffered from
the granting of new injunction against
it's proposed absorptions. Advances Of
from l to points In number OF low
priced railroads and industrials we're un-
explained by any news The advance in
Canadian Pacific and it's affiliated lines
was designed to lift the stock in proper
ton to the advances of other Stocks OF
Northern Pacific lines.
The bond market was irregular In SYM
pathy with stocks. Total sales, par value
$3,5l6,000. United states bonds unchang-
ed on last call.
The total sales of stocks to-day were
1,448, 200 shares, including Atchison, 1S4,9OO;
do preferred, $500; Canadian Pacific, T.
100; Chesapeake and Ohio, 49, 100 Chicago
and Alton, 10, 300; Chicago Great Western,
$780, Rock Island, 80 800; Colorado South
ern, 100; Denver & Rio Grande 800; do
preferred, s,10O; Erie 1920; do first pre-
ferred, 9.400; Illinois Central, 1920; Mis-
souri, Pacific. 1900; Louisville and Nash
Vile IL 200; New York Central, 800; On
tario and Western, 42,700; Pennsylvania,
IS 200; Reading 1900: do first preferred
5000; do second preferred, $500; st. Paul,
II 800; Southern Pacific, 207, 800; Southern
Railway, 1880; Southern Railway pre-
ferred, 500; Texas Pacific,( 500; Toledo.
St. l.. and Western. 5.100 do preferred,
$500; Union Pacific, 6O.600; Wabash, 1850;
Wisconsin Central, $500; Wisconsin Cen
trail preferred, 11,l0O; Amalgamated Cop
per. $500; American Car and Foundry,
5,4Oo; do preferred. 6.1O0; American
Smelling, 1900; American Tobacco, 1910;
Brooklyn Rapid Transit, 1900; Continen-
tai Tobacco, 14,10O; Hooking Coal, 5000;
Pacific Mail, 9,4O; Peoples Gas, 1870;
Pressed Steel Car, 1000; Sugar, 23,1OO;
Trnt.na C4a4oa ckoa1 0o0. 10 r,rafarrad