The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-05-18
STOCKS AND BONDS.
Market strong and Advances scored
All Through the List.

New York. May 1.-THE fever and
nervousness were practically aii gone out
of the stock market to-day. There was
a really impressive demonstration of con-
fident strength, which was somewhat in
termittent and spotty in the early deal
ings. but which grew and broadened with
the progress of the day and closed with
a buoyant outburst which recalled the
days Of the early period of the late boom.
The strength in the market was prin-
cipally based on general conditions, but
there were besides an unusually large
number of stocks influenced by individ-
ueI causes. The aggregation of the
strengthening influences was potent
factor in its sympathetic movement In
the local fractions was due to the inau-
guration of the underground trolley on
additional lines of the Metropolitan Street
Railway and estimates of the benefits TO
result to the Manhattan system from the
use of the electricity. Sugar was affect
ed by reports of an agreement With the
coffee interests and was heavily bought
for Boston speculative account. Expec-
tation Of a melon-cutting helped Consol-
dated Gas A reported settlement with
the city authorities giving assurance
against interference was the cause of the
strength of Peoples Gas. The better pros
pect OF settlement with the maehinists
and the progress Of measures towards re-
newed organization of the United States
Steel Corporation companies indicated by
the election OF new directorates induced
buying of the United states steel stocks
Reports of large deposits OF stock in as
sent to the proposed exchange with
Amalgamated Copper explained the de-
mand for that stock. There was talk OF
closer relations between the American
and Continental Tobacco companies. The
Pennsylvania Railroad was said 10 be
perfecting It's control OF subsidiary coal
carrying roads. Such individual causes
OF strength might be considerably ex-
tended, but enough has been said to ins
dictate the character Of some OF the
markets strength. Gains all the way from
2 TO 10 points are shown by an extended
list OF stocks and their last prices were
practically at the top.
owing 10 the heavy receipts from the
interior, the banks are expected to shoy
an effect on the market Broadly con-
sidered the general feeling that prices
we're on safer level by reason Of the
imitation let out OF them while the bust
ness conditions Of the country and the
earning power OF properties were unim-
paired, eneohraged the buying. The evil
dence that forced liquidation growing out
OF the panic had been completed Is
thought 10 leave the way open for re-
newed advance. The Indications for TO-
morrow's bank statement were Of such
strong recuperstion that some pres
sure to lend money seemed a probability
not far IN the future. II should not es-
cape notice. however. that the principal
buying OF the day came through the
same channels as that which marked the
leadership OF the recent bull speculation
into its last stages OF excess. The opera
lions were supposed in Wall street 10 be
Inspired IN the interest Of the great COM
bination Of capital whose measures OF
consolidation have produced a crop OF
new securities which remain 70 be sue
ceesfuly marketed TO insure the rem-
bursement Of the expenses OF those con-
solicitations. The belief I'm the settlement
OF the Northern Pacific controversy Is felt
10 offer. assurance Of a more effective
naturalization Of tho whole Western RAN