The Savannah morning news., 1901-06-01
STOCKS AND BONDS.
Market Became BuOyant and Scored
some Advances.

sumo AuNAhctss
New York. May 3l-The stock market
developed quite a buoyant tone to-day
and the activity was still further in
creased, giving the market a good deal of
the appearance again that 1t offered dur
ing the boom period. The strength be-
came very general during the progress
of the day, but the effect was I'm part
| sympathetic and flowed from the conspic-
| uous strength of a few prominent stocks.
The current conjecture In The street point
ed to a conclusion that the movement OF
the principal stocks was due to operations
by the Hartman Rockefeller-G Gould ele-
ment and those of the Pennsylvania Rail-
road in retaliation.
The advance scored in the London mar
ket during the holiday yesterday and be-
fore trading was commenced here to-day
gave the market a good start at the OPEN
ing, and there were many gains ranging
between 1 and points After the prelim-
mary reaction. due 20 the selling to take
profits by the buyers of Wednesday, Atch-
ison moved very aggressively upward on
an absorption of thousand share lots
During the rest of the day there were
successive departments of similar move
ments in other stocks, notably Pennsyl-
vanie, Union Pacific, Southern Pacific,
Missouri Pacific and the Southern Rail-
way stocks. The buying of Atchison came
from many sources, apparently in an eff
fort to disguise its origin, but the prev
alent opinion was that a large part of II
was for Philadelphia account and In the
interest of the Pennsylvania Railroad. A
large speculative pool was also active in
the stock and helped along abe advance
by manipulation.
The buying of Southern Railway was at
tributed to the same source, and conf
dent predictions were heard that an
nOuncements would soon be made of Penn
sylvania control I'm the company. The ad-
vance in Atchison reached 5h in the pre-
ferred 29s, Pennsylvania 3lz and Southern
Railway S9s as a result of this buying.
The movement in Union Pacific, Missouri
Pacific, Southern Pacific and the South
westerns generally was almost equally
impressive. Union Pacific rose an extreme
4A, Kansas and Texas preferred 3M,
Southern Pacific 39s and Missouri Pacific
81. The street was full of well-dehned
rumors that a settlement had been agreed
upon between the contending interests In
Northern Pacific which would result In
even stronger conditions In the railroad
world than at present. This was the un-
DERIVING cause of the strength in the
market but the railroads In the South
ern region responded much more notably
York Central rose 2A and Baltimore and
Ohio "a apparently In sympathy with
Pennsylvania. The so-called greater Mis-
souri, Pacific project retained Its full forces
as a factor. The decided strength Of she
United States Steel stocks also had a con-
siderable influence. There was talk OF
an early dividend on the common stock.
IL advanced "a, and the preferred 25s.
Amalgamated Copper rose nearly points
In duifa Of -
opposition corporation. The combination
Of the opposition was said to be prellml-
nary TO its absorption by the Amalgamat-
ed company. The stock reacted later and
closed with net gain OF less than
points. There were gains OF from 40 ~
in a number of other industrials. Evans
Vile and Terre Haute rose ~. DesMolnes
and Fort Dodge AZ and Twin City Rapid
Transit 3ik.
Preliminary estimates OF the bank state
ment indicate that ehe inflow OF cash from
the interior has more than offset the
losses by the banks to the sub-treasury
which include the payments to the assay
Office for the gold bars exported. The
market closed active and strong at a rally
from a late reaction and with many
stocks at the top.
Bonds shared in the strength OF the
stock market and there were moderate
NViuihe Ol uehhhBs. lotal safes par value,
A.2i5,0OO United States refunding 2s adj
vanoed 4 per cent. on the last call.
The total sales Of stocks to-day were
1,423. 400 shares. including Atchison, Sc. 100;
Atchison preferred, "a. 800: Baltimore and
Ohio $500; Chesapeake and Ohio. 6.5OO.
Chicago indianapolis and Louisville. 800.
Colorado Southern. LOO: Erie, 1880; Erie
first preferred 1900; Louisville and Nash
vile. 1890; Manhattan. 1900; Missouri
Pacific, 1850; Missouri, Kansas and
Texas preferred. 300: New York Central.
q. 800; Norfolk ana Western. $500; Ontario
and Western 1890; Pennsylvania, 1880;
Reading, lS'l0O Heading first preferred.
$500; 81. Paul, 1900 Southern Pacific 49,
800. Southern Railway 100 300. Southern
Railway preferred. 1000: Texas and Pa
cihc. 600; Union Paddle, i3f.2D0; Union
pacihc preferred. 1880; Wabash. 1850;