The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-08-08
STOCKS AND BONDS.
The Closing Was Very Firm, with
Prices Moving Up.


New York, Aug. 7.-Busines to-day
was on a reduced scale and there was
more general disposition to curtail
operations pending the settlement of
the steel strike. The announcement
over night of general extension of
the strike order caused some hesitancy
at the outset in the general market,
but aside from a sharp dip at the end
of the first hour and again toward the
close, the tendency was distinctly up
ward throughout.
The final prices were about the best
for Atchison, st. Paul, Union Pacific
and Southern Pacific, which accounted
for the most active dealings in the
railroad division. Reports have been
current for several days past of a
fixed price at which the United States
Steel stocks would not be allowed to
break by, the alleged pool behind the
stock. This level was exceeded earlier
in the week and spectators generally
were interested in watching the open
ing In the stocks this morning. When
5000 shares. OF the common stock came
out on q. SCALE down to 395s and a fig
ure was made of ,S9 for the preferred
representing losses of Ss each, support
was Immediately forthcoming, and a
rumor gained currency that the level
for to-day was fixed at 39% and 80,
respectively.
Professional operators made but fee
bic efforts to depress the stocks in the
subsequent dealings, and were more in
clined TO bid up the general list on the
theory that the Backing to the steel is
sues would have a sustaining effect on
all other properties, Whether this sup
position was correct or not or because
the short interest had been unduly ex-
tended in the railroad list the fact re-
mains that all of the grain carrying
roads showed conspicuous strength at
various times. No doubt the grangers
were helped by the rise of about a cent
in wheat, but Atchison's improvement
could not be directly traced consistent
ly to the fluctuations in corn, which
was higher. Business in the United
States Steel stocks was on even a
smaller scale than yesterday, but they
moved pretty steadily upward, touch
ing 40A and 80, respectively, and ended
at the highest of the day.
A number of minor railroads made
somewhat sensational advances, the
extreme rise in Lake Erie and West
ern common and preferred being so
10; Iowa Central common and preferred
31A@5M, and st. Lawrence and Adiron-
dack 6as. No news attended the up
ward movement in these stocks, aside
from the placing of the latter on 5
per cent. divided basis. Industrial
stocks, aside from Sugar, were without
any special change, and the fiuctua-
tions in even that stock We're within
comparatively moderate limits. Some
weakness developed early in the coal
ers on talk of renewed dissatisfaction
among mine workers, but their losses
were cancelled later on, except for
Lackawanna, which ended points OF.
Monetary conditions were unchanged,
but sterling exchange was stronger,
demand bills being held rigidly at $4.SS.
There are no prospects for gold ship
ments this week to Germany. In the
closing dealing prices were IN the up
turn again, and the ending was very
firm.
Railroad bonds were quiet and some
what irregular. Total sales, par value,
$1,140,000, United States bonds were all
unchanged on the last call.
The total sales of stocks to-day were