The Savannah morning news., 1901-01-30
STOCKS AND BONDS.
MSrket Moves Under Lead of st.
Paul and Steel and Wire.

New York, Jan. 2g-The stock market
was again dominated by st. Paul to-day
with some incidental disturbance from
the erratic fluctuations of Steel and Wire.
These two stocks really made the mar
ket and prices moved somewhat narrow
ly and on a small margin of transactions
in sympathy with them throughout the
day. af
Southern Pacific was notable excep-
ton to the general tendency of the mar
ket. 1t was bought largely all day and
in the late dealings rose to A. carrying
some other stocks, notably among the
grangers and Pacifcs with it, But re-
newed weakness in the two leaders car
lied prices except for Southern Pacific,
down again, leaving only few insignii
cant net gains among the larger list of
losses. There was no news to account for
the movement in Southern Pacific, be-
yond the argument of the spectators in
the stock that an advance in it's price
was long overdue. Mobile and Ohio made
a very notable rise of 67s, accompanied
by rumors of absorption or control by
the Illinois Central New York Central
gained . ints on very light transactions
and Manha tan and Leather showed signs
of strength. American Express gained Az
without any explanatory news.
The opening break in st. Paul was vio-
lent the. stock dipping AS to $50 under the
pressure of heavy blocks to sell. Later
in the day it got as high as 1853 twice and
wavered uncertainty between that and ISL,
closing with net loss of "a. The en-
phatic disclaimer by all the st. Paul au-
titles who were quoted of yesterdays
explicit assertions that arrangements had
been completed for the transfer of con-
troll to Great Northern Pacific made it
clear that whatever plans were in opera
ton to bring that result about, there were
objections among St. Paul stockholders
to it. That very large portion of the
heavy dealings in the stock was purely
speculative, is manifest from the fact
that yesterdays transactions alone ag-
gregated more than half the number of
the total share capital of the company
This could only be the result of large
professional traders being in and out of
the stock on heavy scale, perhaps many
times in the course Of a single day.
In Steel and Wire the low point was
made at 80 soon after the opening and
the stock then reboupded to above Al be-
fore the announcement was given out that
The promised statement would be with
acid until p. m, instead of being pub.
l:shed at II o'clock. During the afternoon
the stock got as high as 4174. but closed
at net loss Ct p. The prevailing state
OF mind of speculat tors in the stock was
evidently one Of entire uncertainty as to
the effect the statement would have upon
holders, and the uncertainty is likely to
continue, as no action has been taken on
the actual question OF the dividend.
The congested and uneven character Of
the trading is indicated by the fact that
not single share Of such an usually ac-
tive stock as Sugar was sold until well
into the second hour Of the trading, and
che first sale of Tennessee Coal was
made after ! O'clock. A considerable ex-
port of g Id On Thursday is assured, and
already 81 100000 have been bespoken in
tentative manner at the assay Office
The continued firmness to-day Of Ster-
ling exchange here and the further frac-
ufnal advance al Paris strengthens the
.supposition that the outward movement
o. gold from New York will shortly be
diverted from Paris to London.
The railroad bond market continued
moderately active with an Irregular
movement of prices. Total sales par val
ne $3.s5jOOO. United States IS end new
Is advanced Y per cent. on the last call.
Total sales OF stocks to-day were $780,
800 shares.
New York Stock List
81, 100 Atchison .........................t 457k
5000 Atchison preferred ..............i IS
14.3OO Chicago. Bur ington & Quincy. i143ss
B2OOChic, Roek Island & Pacific. .1223s
l5OgolEri ..'............. 27A
1900 Erie first preferred ............ 6z4t
1890 Manhattan l. ....................l117
10 800 Noble Il Ohio .................,i 5itb
80 go Northern Pacific .................s 2ik
1850 Pennsylvania .ll45H