The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-04-12
STOCKS AND BONDS.
The Market Closes Dull md at About
the Lowest.

New York, April 11.-Speculative liqui-
.dation was very. clearly at work again
to-day in the stock market. 1t was offset
during the early part of the day by the
aggressive strength shown by handful
of stocks! The advance in these was help
ed by violent manipulation, but it served
to sustain. the rest of the market in face
Of heavy selling until the call money rate
ran up again. when the pressure to sell
became greater than the absorptive power
and the market turned weak. Even the
notably strong stocks lost all of their
gains as a ruleg and the market closed
dull and at about the lowest and at con-
siderable net loss except in very few
stocks r. 80
The arrival I'M London of the New York
. fnancier who has been the moving spirit
in most of the recent vast financial pro-
jects in this country aroused some ex-
pectation that the London market would
reflect his presence there, and that ac-
ton would be taken on some Of the pro-
jects which have been supposed to be
waiting upon his counsel The rumored
Burlington deal was the most important
of these, and the failure of official con-
.firmation of the very positive assertions
which, have beenecurrent that this trans
action was completed, had good deal
to do with the depression which permeated
the whole market as the day progressed.
It Isl very evident from the persistence of
disclaimers of the deal, that an important
minority of the stockholders Is still OPP
posed, to it. even IL 1t be true that actual
control has passed to the Hill Morgan
interest.
The widespread belief in impending con-
solicitations of Importance in the copper
world made Amalgamated Copper very ac-
tive and buoyant but here again the fail
ure of expected official confirmation
aroused some feeling of distrust among
the spectators who had bought most
largely and with least information. and
MISUNDERSTANDING cost the stock practically
all of its 81. point rise. The Chicago and
Northwestern stocks continued their re-
markable rise, the common advancing ID
points, and the preferred IL points, each
of them showing points advances be-
tween sales. Deniais from official sources
of the rumored consolidation of this road
with Chicago, Minneapolis, st. Paul and
Omaha, and with Union Pacific caused
reaction in the stock of rs. There were
denials of the rumored sale of Consolidat-
ed Gas real estate, causing a reaction of
4 points from the stocks 81 points rise.
The advance of 3h in Rock Island on
riirnors of buying for control by Pennsyl-
vania was more than lost. Sugar rose an
extreme 3iL and saved more Of its gain
than other stocks. The United states
Steel stocks showed a notable relapse
from their early strength, closing at net
losses OF q fraction to point. The sell
ing pressure was most marked in Bur
lington and Northern Pacific, and 1t was
only for a brief period that they were
lifted at all over last night. The reac-
ton I'm Burlington reached 5h and Ia
Northern Pacific pa.
The requirements of the sub-treasury
and the demand from the Interior con-
tinued to make inroads on banking re-
serves and the refusal by the secretary of
the treasury of bonds offered to him at
the market price discourages the hope of
relief from that source. The hardening
OF the money rate in London also causes
apprehension OF a renewal Of pressure for
gold from that point although the higher
rate for money here was sufficient to
cause a yielding IN the sterling exchange
rate to-day.
The bond market was moderately active
and yielded I'm sympathy in some places
with the late reaction in stocks. Total
safes. par value. A345.OOO. United States
old 4s coupon advanced q per cent on the
last call.
Total sales Of stocks to-day. 1.745.e00
shares. including: Atchison, SO,iOO; do
preferred "a. 800: Chesapeake and Ohio.
$500; Chicago. Burlington and quincy, 3d.
1905. Chicago Northwestern, 1880; chica-
go. Rock Island and Pacific. 81 100; Colo-
RADIO Southern. 1850; Erie. 72,400; do first
preferred. 1000; Louisville ana Nashville,
10 400: Manhattan, 1880, Metropolitan, H.
500; Mexican Central i7So0 Missouri Pa
cihc. $780, Missouri Kansas ana Texas
preferred, n 800: New York Central, H.
600: Norfolk and Western. 800. Northern
Pacihc. 5000; Northern Pacific preferred.
900: Ontario ana Western. 1850. Pennsyl-
yanla. 1900. Reading. 100. DO second
preferred. iO2oOi ~. Peui 1890, soufnern
Pacific, 500. goutbern Railway 1900. do
preferred. $500; Texas Pacific, ~ i00i Tn
lon Pacific 90200. Wabash preferred 81.
100. AmalRamated copper. l62.s1D. Smell.
Ing. $3.50. American Tobacco, MN0 Ana
oonda. no. Brooklyn RAPID Transit. 49,
~. Colombo Fuei, i6 a0i Continental TO.
bscco. i2g0. General Eiscfrir sa0). Poo
'DlFs Ca. 900. 6nKar. i5i iO. Tinted
Eiates Steel l@00 ~ preferred. 1850.
New York stock LiFt
Afalifru tn..sn ti# ~ pref ..,.t4. 1stl
40 pref ...,,. gt4 Vince. a h a.. n
hsik 4 ONO . gst o. 10 pref y. s.