The Savannah morning news., 1901-03-12
STOCKS AND BONDS.
Market Rises, but Reacts to
Points With Closing Easy,

New York, March 11.-To-day's stock
large transactions and wide price move
ments in some individual stocks. The in
ertia of the general market in spite of
these points of activity gave the whole a
very spotty appearance. Professional OPP
erations were obviously responsible in a
large degree for such dealings as occurred
and for the manipulation which exagger-
ated the price movement.
Where professional manipulation was
not at work, to-days movement will be
seen to have been very sluggish and not
few small losses are scored, even among
stocks which are usually prominent in
the market. The interruption of tele-
graphic communication on account of the
storm curtailed activity to some extent.
OF the days special movements that in
Burlington attracted most attention. St.
Paul sold ex-right this morning, the
rights being quoted at AZ to 49,, reducing
the price to $50 or under. This gave the
supporters of the Burlington an opportu-
nifty to lift that stock over st. Paul to
ISIS, rise over Saturday of 2ss The
movement seemed to be based purely on
the consideration that Burlington has had
its rights to subscribe to new stock
while the dividend rate Is already per
cent. with as per cent. rate for St. Paul
still to be established. There was no news
regarding the stock beyond the old ru-
mors of refunding.
The coal-carrying roads were strong
with a few exceptions, where an advance
has already been made. Both the anthra-
cite and the bituminous coal groups shared
in the movement Spectators profess
confidence that the labor questions will
be satisfactorily adjusted. The gain reach
ed 3% I'm Lacka wanna and in Delaware
and Hudson. There was movement
among the Gould Southwesterns, led by
Missouri Pacific with an advance of 8
points. The Wabash securities were all
in large demand also. The only explana-
ton which traders found for the move
ment was the belief in an early interest
payment on the debenture B bonds. There
was an early decline of over a point in
Sugar on account of the cut in the price
Of refined sugar. The stock rallied to well
over Saturday, but closed the day I'M
changed. Great Northern preferred was
marked up points in connection with the
presence In this city of the president and
rumors that a melon is to be cut. Anal
gamated Copper was strong. There were
gains of from 2 to So in Chicago and AL
lOIls FOTL worth ana ItlO dTdnQe, ana
American Ice preferred.
The dismissal of the injunction
against the absorption of the
Guggenheim interest by the Ameri-
can Smelling Company caused a rise in
those stocks OF ga for the common and 2
for the. preferred. The realizing move
ment in the last hour cut down all these
advances to some extent, and in the act
i've stocks reactions ran from to . points
with the closing easy.
There was no disturbance in the money
market, but the weak showing made by
the banks in Saturdays statement and
some large dividend requirements to be
met this week causes an Apprehension that
there will be some calling of loans before
the end of the week. Some discussion was
heard on the state of affairs developed in
Manchurla, but more by reason Of its in
fiuence in foreign markets than for any
direct effect produced here.
There was a very large absorption OF
bonds, especially of the low grade and
and semi-specuatiye issues with con-
tingent interest payment. Total sales. par
value, S,S55,000. United States Is, refund
ing, advanced y and the new As declined
Is on the last call.
Total sales of stocks to-day were ISL, 700
shares, including Atchison, 1900 Atehi-
son preferred. 1900: Chesapeake and
Ohio, S5.4OO; Chicago Great Western. H.
300; Chicago, Burlington and Quincy, A.
200; Colorado Southern, 1900; Delaware
and Hudson, $500; Denver, $500;
Erie, 1920; Erie first preferred,
1900; Great Northern preferred,
$500; Louisville and Nashville, 1920;
Manhattan. 1900; Metropolitan Street
Railway, 800; Missouri Pacific, 10000;
Missouri, Kansas and Texas preferred, H.
700; Norfolk and Western, 1890; Northern
Pacific, 1S,400; Ontario and Western, $500;
Pennsylvania, $500; Reading, I4,1O0; Read
ing first preferred, 80, 100; ST. Louis ana
San Francisco, 500; st. Louis South
western 1910; st. Louis Southwestern
preferred, 10000; ST. Paul, 1920; Southern
Pacific, $500; Southern Railway, 5000;
Southern Railway preferred. 1000; Union
Pacific, $780, Wabash preferred, 2O,700;
Amalgamated Copper, 17,7OO American
Smelling, $500; American Smelling pre-
ferred, $500; American Steel and Wire,
$500; American Tobacco, 500; Brooklyn,
A,400; Federal Steel, 800; Biscuit, 9,4OO;
Peoples Gas, 300; Sugar, $780, Tenn
essee Coal and Iron, 5000.
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