The Savannah morning news., 1901-02-02

the minor railroads. which assumed con-
siderable prominence in the days deal
ings.
Late in the day report was current
that Union Pacific had secured control Of
the Southern Pacific Railroad. No Of
fetal confirmation could be had OF this
statement, but the fact that the mar
ket for Union Pacific boiled for a time
with the stock rising ~ points on trans
actions of 225, 600 shares, was sufficient in
itself according to the Views of the trad
ers as being authoritative. II was admit
ted that a leading interest In Southern
Pacific had sold out to a syndicate pre-
sumably representing Union Pacific. This
announcement coming on top OF the va
ried reports about impending dividends
extraordinary earnings, trade combina-
tions and so on, which were rife early in
the day threw the market into excite
ment and blocks of from 1000 to 1900
shares changed hands with as little hes
itation as If they were fractional lots.
AT the outset the Improvement in prices
which gradually gained strength was as
sisted by the higher range of prices from
London. Foreign houses bought early, but
subsequently unloaded about LOG, 900 shares
Of Southern Pacific. That stock strength
ened somewhat after the London selling
had ceased, and was practically about the
only issue which did not have a bull
following. During the general selling to-
ward the close it sagged to 46A compar-
ed with 49l4, the opening figure.
a factor which was instrumental in ad-
vancing the market to-day was the lack
of any gold engagements for to-morrow's
steamer to Europe The market for ster-
ling exchange was easier this morning
demand bills selling at "a .S7A. Later they
hardened to A.SS, and long bills advanc-
ed to %.S49s at which they closed.
The forecast of to-moIrow's bank state
ment indicates gain in cash of 81 ,5O0,-
900. exclusive OF the probable addition to
this figure by government disbursements
for interests the sub-treasury to-day hav-
ing debit balance OF $1,3i6, $40 at the
clearing house on this account. The gold
exports this week of $2,334 600 were en-
tirely Offset by the movement OF money
from the interior, the net gain on this
account being $3,535OO0.
Recurring to the stock market, con-
spicuous features at various times were
Kansas and Texas preferred Tennessee
Coal, Atchison and Louisville the latter
being strengthened by its excellent De-
cember earnings. Profit taking became
quite general in the late dealings and
material inroads were made on the high
prices Of the day in some stocks. On the
'other hand there were points of renew
cd strength and the market closed very
animated and irregular.
Important advances were made in many
prominent bonds to-day and exceptional
gains were made OF 6@ and Z points re-
spectively, in Peoria and Eastern in
Genes and Central OF Georgia first in
comes. The absorption of 4 per cent
bonds was enormous, causing unusual
activity In Iron Mountain As, Wisconsin
Central as. San Antonio and Arkansas
Pass rs and Southern Pacific As The ag-
gregate transactions footed up the ex-
ceptional figure of 81, 295. 200. United States
3s coupon declined 4 on the last coll.
The total sales Of stocks to-day were
1,557,7 700 shares, including Atchison 146, 800;
Atchison preferred, 81 200; Chicago Great
Western, $500; Baltimore and Ohio, H.
800; Chicago, Burlington and Quincy 25,-
700; Chicago, indianapolis and Louisville
10000; do preferred 800; Rock Island o.
200; Denver and Rio Grande, 1000; Erie
$500; do first preferred 7100; Louisville
and Nashville, 81, 800: Manhattan q 800.
Missouri Pacific, $500; Mobile and Ohio,
1890; Missouri. Kansas and Texas, 1860;
do preferred $4,000: Norfolk and Western,
10000; Northern Pacific 10000 Ontario
and Western, 1900; Pennsylvania 300;
Reading 1880; Reading first preferred T.
800; do second preferred 800; st. Louis
and San Francisco, 1880; do second pre-
ferred 500; ST Paul $500; Southern Pa
citic $4,000; Southern Railway Al. 300: do
preferred 1850; Texas Paclfc $500; I'm
ion Pacific 225,s0o; do preferred "A, 200; Wa
bssch preferred i, 100; American Steel and
Wire 5000; Amalgamated Copper 121OO
American Tobacco 600: Brooklyn Rapid
Transit 1900; Colorado Fuel and Iron
$500; Federal Steel p, 400; National Steel
1880; North American O. 100; Peoples Gas
$500; Sugar 81 200; Tennessee Coal II, 900;
United States Leather 500.
New York Stock List
AtchisOn .... 90. 30 Wabash o.. ...,.. 1884