The Savannah morning news., 1901-10-02
STOCKS AND BONDS.
The Feature the Sharp Decline In
Sugar.

New York, Oct. 1.-The lively inter-
est in to-day's international yacht race
took many stock exchange members
away from the board room and still
further diminished the volume of the
trading. The days aggregate sales
were barely 100000 shares and the fluc-
tuations of prices was very narrow for
the most part. The exceptions worthy
of special note were in the industrial
list and among the dormant and less
important railroad stocks.
Liquidation in Sugar was the feature
of the market, following a sharp break
in price yesterday. The usual lack of
information regarding the movement
was one of it's features. The room trad
ers Joined in the selling in an attempt
to make a quick turn and their cover
ing caused a rally of a point. The
stocks extreme decline was Az. The
gossip to account for the decline in
cluded rumors that the insiders were
liquidating on apprehensions of a
change in the Sugar tariff at the COM
ing session of Congress or of unfriend-
ly legislation. Other rumors had it that
insiders who had sold at recent high
prices were depressing the price to get
back their stock. The general feeling of
distrust of the blind pool methods of
the great industrial corporations, which
has reached an acute stage since the
recent episode in Amalgamated Copper,
was factor in Sugar and a number of
other industrials. There were losses of
IN to 2 points in Brooklyn Transit,
Colorado Fuel National Salt preferred,
General Electric and American Ex-
press.
The waiting attitude of the market
was partly due to expectations of divi-
dend action on the United States Steel
stocks and the presentation of prom
Used financial statement. The non-ap-
pearance of this as the session drew to-
ward its close emphasized the weak
ness of the industrials. Amalgamated
Copper was rather firm, advancing
point, then losing it and stiffening
again to about the best. Atchison was
quite notably firm and gained a point
on rumors that the directors would in
crease the semi annual dividend rate
to per cent at meeting tomorrow.
There were some other firm spots in the
railroad list and the general undertone
was rather firm on a belated recogni-
ton of yesterdays important recupera-
ton of money market resources by re-
ceipts of Australian and French gold
A rise in the New York exchange rate
at Chicago to par also indicated a miti-
cation of the interior pressure for cur
rency. On the other hand sterling ex-
change recovered a fraction thus dis
appointing hopes of an immediate re-
turn to the gold import point. There
was also a rise in call money in the
late trading to Az per cent. which re-
newed the conjectures as to the cause
of last weeks loan expansion, and it's
possible continuance. The unusually
large dividend and interest disburse-
ments incident to the first of October
are expected to affect the money mar
ket within a very short time.
The market was hesitating and I'M
certain throughout.
The railroad bond market was dull
and irregular. Total sales par value ST.
100000. U. S. refunding rs advanced N
per cent on the last call.
Total sales of stocks to-day were 1885,
300 shares, including: Atchison 81 800;
Chicago Terminal preferred, 900; Erie,
11.l00; Manhattan, $500; Missouri Pa
ciHc, 1880; Pennsylvania. 5000; Read
ing, 21,S00; Southern Pacific, 500:
Southern Railway. $500; Union Pacific,
1900; Amalgamated Copper, IS 300;
Brooklyn Transit, $500; Sugar, IS, 800:
United States Steel, 26,200; do preferred
1920.