The Savannah morning news., 1901-04-11
STOCKS AND BONDS.
The Market Active aud Advancing
Until Pront-taking Began.

The Market Active and Advancing
Until Pront-taking Began.
New York April l0.-The speculation for
the advance was renewed in force to-day
and the market resumed much the same
appearance as it had during the excited
speculation of last week, London helped
to this result by some rather emphatic
advances in the international stocks be-
fore the opening here, which were per-
hsps incident to che fortnightly settle
ment now in progress on the London stock
exchange.
The market opened here in fairly
buoyant condition, the congested buying
causing running sales of several thousand
shares blocks in number OF stocks al
the opening at. advances of from l to
points. This materially higher level of
prices attracted some large selling to
realize. and the tone became rather ner-
vous for a while as shown i'm the wide
and frequent fluctuations in some of the
prominent stocks. But the speculative
leaders seemed to be again well supplied
with resources, and they supported tine
market with great confidence and manip-
ulated prices with boldness. The sudden
and violent advances We're well calculated
to fascinate the multitude of outside
spectators who were very evidently wait
ing to come into the market on any def
mite signs of a further advance.
Mondays reaction and the subsequent
recovery evidently served TO convince
many persons that no lower prices were
to be expected for the present and chat
further advance might be reasonably
looked for. 1t was demonstrated in fact
that the public is still willing and eager
to buy stocks, Notwithstanding the hight
level of prices measured by the earning
power, so long as prices continue to so
up. Large speculative pools, therefore.
find it worth while to support prices and
to advance the market, even in face of
heavy offerings, owing TO the large out
side demand attracted by the advance in
prices.
The appearance of new tenders in the
money market, including some of the
spectators interested in the rise, has
served TO again defer the exhaustion of
money resources but the rate for CALI
| loans ran up above Mondays high level
to per cent. to-day under the require
ment of the active speculation and OF
some large financial operations, inulud-
ing the payment of another $40, 100000 in
stalment ON subscriptions to the Union
Pacific collateral bond issue. The slightly
frmer tone of sterling exchange this
morning while the money rate was lower
| indicated that any relaxation in the rate
would lift sterling back to gold export
point The advance In the cali loan rate
helped to precipitate a lively realizing
movement during the last hour which cut
into prices all around and made the clos
! ing easy.
The Burlington deaf and talk of a con-
/ solidation of copper interests with the
| smelling interests looking to control the
1 gold, silver and copper product were the
I leading influences in the days specula-
| tion SO far as It was due to any SPECIFIC
influence at all. Burlington rose an ex-
| treme 6A 20 new RECORD price at l92
| and Northern Pacific came within a small
| fraction of par The whole granger group
was affected by sympathy and Northwest
preferred made a notable advance of Is
points. while st. Paul and Omaha rose
8 points Amalgamated Copper gained 5A
on very large dealings, and Anaconda 41s.
Texas and Pacific was largely bought at
an advance of 2l2 on talk of an exchange
of two shares of the stock for one of
Missouri Paciid AS an outgrowth of
these movements the Southwesterns,
grangers and Erie were all strong and ac-
tive. Special features of the strength
were Consolidated Gas, which rose 712,
Brooklyn Union Gas 4, General Electric
8, with a reaction of 5. Tobacco 80 ex
dividended Pullman go and Chicago Ter
minal transfer preferred as. Evansville
ana IefGe f1aute jumped pOlntS, allow
ing for ~ per cent. dividend off.
The bond market was moderately ac-
tive. Total sales par value 50, 900. u.
s. refunding 2's advanced u and the old
AS registered and the new As a per cent.
on the last call.
The total sales of stocks to-day were L.
9O6, 300 shares, including Atchison 77.1OO;
do preferred 1920; Baltimore and Ohio
800; Chicago Burlington and Quincy 49,
700; Northwestern 1900; Rock Island H.
100; Colorado Southern %, 400 Erie 113 800;
do first preferred 1900; Louisville and
Nashville 1890; Manhattan 10.l0O; Met
ropolitan Street Railway 1890; Missouri
Pacific $500; Missouri Kansas and Tex
as 14,200 do preferred 37400; New York
Central $780, Northern Pacific 49, 400; do
100; Pennsylvania Is, 500; Reading 49, 400; do
first preferred 11,6OO; do second preferred
$500; st. Louis Southwestern $500: do
preferred $500: St. Paul 107, 800; Southern
Pacific 10,300 Southern Railway 80, 600; do
preferred 1850; Texas and Pacific $1,000;
Union Pacific 1880; do preferred $780,
Wabash preferred 1900; Amalgamated
Copper 1850. 400; Smelling 1850: American
Tobacco 106500; Ana conda 1890: Brooklyn
27,1O0; Colorado Fuel 30,10O; Continental
Tobacco $500; Federal Steel $500: Cen
era Electric 14.4O0; International PAPER
800; Peoples Gas 1890; Pressed Steel
Car 500; Sugar 1900; United States
Leather 800; do preferred 500; Western
Union 1900; United States Steel 1906 200; do
preferred $1,000.
New York stock isl