The Savannah morning news., 1901-04-03
STOCKS AND BONDS.
The Market Closes Irregular Under
Profit Taking.

ket was tempestuous and uneven. 1t was
swept by storm of liquidation This
morning which caused some violent de-
clines and carried prices below yester-
days level throughout. The bears did
not seem disposed to pursue the contest
in face of the character of the support
which they encountered.
Earlier losses were largely recovered,
but the late activity and strength of the
market conferred very largely in Burlng
ton and Northern Pacific on revival of
reports of a transfer of control of abe
former. Burlington had sold down to
172Ss on the realizing movement, but on
the rally it gained Roadway on the belief
that the terms offered to stockholders
would be equivalent to $50 and the price
crossed that figure by u, and then feb
back on realizing. Northern Pacific
touched 81. The general market recov-
cred well after the shorts began to cover,
and the turn had been made but 1t did
not follow Burlington and Northern Pa
cifc 40 a marked extent in their final
squirt, and the closing was decidedly on
renewed profit-taking.
The early break was in some part due
to the perception that the United States
Steel stocks had been opened high by
manipulation and that realizing in them
was very large. The whole market in
fact, opened higher on the average, the
steel stocks all showing strength and
Burlington, St. Paul and Manhattan gain
ing a point or over. The same brokers
who sold United States Steel so heavily
yesterday continued selling to-day. Prob
ably not a little realizing was induced
by the announcement, which had been
| discounted, of the inclusion of the Lake
Superior consolidated iron mines and the
American Bridge Company In the merger.
The increase in the capital of $3.50 900 900
over that first contemplated also leaves
a liberal margin to the account of the
syndicate after the terms of the addi-
tional exchange have been fulfilled. Deal
ings in the steel stocks continued in enor-
nous volume
On the break, Rock Island was han
| died with notable severity. being forced
"a under last nights close. The steel
stocks also were conspicuous In the de-
cline. But there were stocks in practi-
| cally every important group which were
| forced from 20 points under last night.
| The Southwestern railroads were promi-
nent in the rally.
The money market was helped by the
disbursements of government Is interest
the checks for which passed through the
clearing house to-day and made the sub
treasury a debtor 40 that institution to
the extent of 81, 1892, S22 But the sub-treas-
ury has already taken $2,702, 900 from the
market since last Friday, notwithstand-
ing a payment on account of a deposit
of $4,000 in foreign gold made in San
Francisco. Sterling exchange rates were
slightly lower, but continental exchange
hardened and additional gold exports are
expected. The late rally was helped by
the announcement from Washington that
che Secretary of the Treasury had bought
$1,000, 600 of short-term bonds in New York
for the sinking fund.
The bond market continued active and
irregular. Total sales, par value, T,7i5-
900. United States refunding rs advanced
u per dent. on the last call
Total sales of stocks to-day 1876, 100
shares, including Atchison, 22,1OO; Atch-
ison preferred, SS,7OO; Chicago, Burlington
and Quincy $4,000; Chicago Rock Island
and Pacific, So 400; Chicago, indianapolis
and Louisville, 11,400; Erie. 1920; Erie
first preferred, 1900; Louisville and Nash
Vile, 1850; Manhattan, $4,000; Missouri
Pacific, 1890; Missouri, Kansas and
Texas. 21,OOO; Missouri, Kansas and
Texas preferred 23,7OO; New York Cen
trail, 1920; Northern Pacific 81, 100;
Northern Pacific preferred, Is, 100: Ontario
and Western, 1880; Pennsylvania, 1890;
Reading, IL 800; Reading first preferred
II, 700; Reading second preferred, Al, 400; st.
Paul $780, Southern Pacific, $780,
Southern Railway. 1880; Southern Rail-
way preferred, 1900; Texas Pacific 81, 400
Union Pacific, 2S,5OO; Union Pacific pre-
ferred, 5000; Wabash preferred, 1450O
Amalgamated Copper, 30, 200; Smelling and
Refining, 5000; Steel Hoop, 1890; Steel
and Wire, 1900; Tin Plate, 500; American
Tobacco, 1880; Brooklyn Transit, 1890;
Colorado Fuel. 341OO; Federal Steel il, 800;
Peoples Gas. 5000; Sugar, $1,000; Tonnes
see Coal and Iron, 10,400; Western Union,
II, 400; Republic Iron and Steel, 10, 100; Re-
public Iron and Steel preferred 1920;
United States Steel 229, 200; United States
Steel preferred, 110,1O0.