The Savannah morning news., 1901-01-08

mean the loss of opportunities for for
tune. But even IN that early period of
the market there were not lacking signs
OF strength and there was quite a long
list of gains between l and points The
greater part OF these was wiped out in
che reaction of the opening New Jersey
Central was thus carried down an ex-
IRENE points, Northwestern S%. North
eTn Pacific rs, Reading and Delaware and
Hudson 21R, Atchison preferred. st. Paul
and Erie first preferred pa and Rock
Island and Pennsylvania points,
1t is only once or twice in generation
that such nervous anxiety and uncertain
ty are reflected in the stock market as
were shown during this period Of opening
reaction to-day. Prices jumped about
in the most violent and erratic manner
by wide Intervals. Gradually the fact be-
gan to emerge that there were brokers on
the floor who had apparently orders to
take all offerings at a certain level OF
prices below the market. The course of
prices thereupon gradually steadied and
then moved upwards with an Impressive
surge. Baltimore and Ohio was the first
point of aggressive strength, 1t had
risen 1N at the opening. but had lost all
but a fraction. Its upward sweep car
ried it SIS over Saturdays level During
the rest of the day 1t was simply a ques-
tion whether the new points of strength
would develop With the appearance of
anything like bull leadership in given
stock or with the first sign of manipula-
ton for an advance, a perfect horde OF
spectators were ready to rush pellmell
to buy the same stock. None OF these
advances were we'll held and the process
of profit-taking cost them all the way
from 2 to nearly points But even at
hot ma net
were conserved for the day.
The grangefs were foremost in the mid
day advance, the three leading members
of the group, Burlington, Rock Island and
ST. Paul, advancing 6 to Gas. Later In the
day the anthracite coal roads. which have
not hitherto moved largely in sympathy
with the Readings, New Jersey Central
and Fries. made impressive progress up
wards. Delawar and Hudson rose no less
than 1884, Lackawanna and Ontario and
Western 3ss. These were the most strik-
ing movements of the day. Sugar was
very erratic, working upward an extreme
SIS on the reported advance in the price
of refined Sugar. and relapsing 4as In the
late selling movement. Tennessee Coal
showed acute weakness on the decision to
pass the dividend and fell an extreme So,
closing only a fraction above that. The
steel stocks were inclined to heaviness in
advanced 4ss. The rubber stocks were in
clined to weakness, but had a good rally.
Northern Pacific moved up AS after its
sharp opening decline and Peoples Gas
had a midday rise of "A. The list of
stocks which rose as muCh as three points
and a fraction is a long one, and the
stocks which did not huctuate as much as
a point or over were very few.
1t was evident that the melting cause of
I.
velopments in the railroad world looking
towards vast consolidation. The aequi-
sition Of the Pennsylvania Coal Company
by the Erie and of the Central Railroad of
New Jersey by the Reading is regarded in
the speculative world as a prelude to fur
Their. important developments in the anth-
racite carrying properties. and ready
credence is given to almost any sugges-
ton of a plan for railroad consolidation
Money also is working easier in spite of
the enormous demands of the speculation
The rather gloomy condition of foreign
markets, instead of having any depress-
ing effect seems to stimulate speculative
activity here by the strong contrast Of
this countrys prosperity
There was nothing like the activity or
strength in railroad bonds that there was
in stocks. Total sales par value sS,700. COO
U. S. refunding twos declined, Il per cent
on the last call.
The days record of business was car
ried far beyond the previous high level,
the aggregate sales footing up 2147.OO0
compared with 1887 800 last Friday, which
made the record UP to that time. Sales of
individual stocks included Atchson &c.
800; Aschison preferred, 81, 100; Baltimore
and Ohio IS, SOC, Chesapeake and Ohio g.
400; Burlington, 131, 400; Rock Island, 49,
300; Delaware and Hudson. 24.7O0; Lacka-
AEn.
ferred, $500; Louisville and Nashville
1890; Manhattan, 26,4O0; Metropolitan
Street Railway, $500; Mexican Central,
1900; Missouri Pacific, 80 600; Missouri
Kansas and Texas preferred, 28,5OO; New
York Central, 90 100; Northern Pacific, 1872
200; Northern Pacific preferred $500; On
tario and Western, 1885, TOO; Pennsylvania
81, 200; Reading. 1442O0; Reading first pre-
ferred $1,000; Reading second preferred,
S,50; SanFrancisco, second preferred,
800; St Louis Southwestern, 5000; St
Louis Southwestern preferred. II. 800 st.
Paul, 300; Southern Pacific GO, 700;
Southern Railway, S7,4O0; Southern Rail-
way, A4OO; Texas and Pacific, 237OO;
Union Pacific, $3.50; Union Pacific pre-
terred, $500; Baltimore and Ohio prefer
red, $500; Amalgamated Copper. $500;
American Smelling $500; American Hoop,
5000; American Steel and Wire. $500; Tin
Plate 22,SOO; American Tobacco, 1900
Brooklyn, 50,400 Colorado Fuel, 5000:
Continental Tobacco, 1920; Fed
eral Steel, 15,1OO; Federal Steel prefer
red, $780, Peoples Gas, Al. 900; Sugar. 132
600; Tennessee Coal. q, 200 and U. s. Rub
Der $500. This scale of trading has never
before even been approached in the his
tory of the Stock Exchange.
New York Stock List.
AtCliGOn
do rsfd COX -.