The Savannah morning news., 1901-03-06

Pennsylvania has secured an influential
interest. 1t spread to all the principal
railroads operating in the trunk line terri
tory, including the coalers, and later in
the day stocks of railroads in the West
ern territory moved upwards. The prin-
cipal stocks affected, including the lead
ers In the granger group and Pacifcs,
show gains of / to Sis points Pennsyl-
vania itself was up 2ls. Delaware and Hud-
son, Sls, Baltimore and Ohio preferred 3A
Great Northern preferred, BIS, Burlington
and Norfolk and Western preferred, "a
IL was very noticeable that the market
as "A whole did not respond notably to the
movement In special stocks In the rail-
road list the buying was based on the
large earnings. Sugar got above last night
for short time after the announcement
or the regular quarterly dividend but fell
2t2 in the date transactions, Closing with
a net loss of l%. Yesterdays movement in
Amalgamated Copper continued in force
to-day, carrying that stock up an extreme
AS, closing practically at the top. The
gas stocks showed continued strength in
the days movement. General Electric
rose points. Pacific Mail lost as much,
but recovered points. The bituminous
coal carriers showed signs of strength.
The steel stocks were neglected. the COM
mon stocks as rule being rather heavy,
While there was some strength among the
preferred stocks. United States Steel was
rather dull and about steady in the out
side market.
The payment of 80 per cent. of the pur-
chase price for the Southern Pacific yes
terday amounting to over S20000.0OO,
brought the clearing house balance to-day
up TO the high grade of many of the credit
obligations at present held by New York
banks, and the large changes Likely to
occur in the items of bank statements by
reason OF occasional liquidation of heavy
loans to great corporations. where there
Is simply an exchange of securities IN
VOWED without any corresponding increase
of capital issues. The item IN the balance
sheet OF the Pennsylvania Railroad Com
pany of $40 $4,000 Under the head OF "col-
lateral investment obligations" is an ex-
ample of such loans representing Dor
rowings by that company incident to last
years purchases of securities to control
other companies
The bond market showed some increas-
ing activity and strength, hut continued
rather irregular. Standard Rope SIS broke
points. Total sales par value, $5.525.O0O
United states refunding rs and new As
registered declined * and United States
coupon 4. The SIS registered advanced IA
per cent. on the last call
Total sales of stocks to-day O09 100
shares, including Atchison, Is, 1000; Atchi-
son preferred, $500; Baltimore and Ohio.
22'4W; Chesapeake and Ohio 1885, Chi
cago, Burlington and Quincy, r, 600 Chi
cago, Rock Island and Pacific. II 400:
Louisville and Nashville, 500; Manhat-
tan, 1900; Metropolitan, $500; Missouri
Pacific. $500; New York Central. $500;
Norfolk and Western. 1880; Northern Pa
cific, 3l.400; Ontario and Western. 10. 400:
pennsylvania, 10000; Reading, 16 POO Read
ing first preferred 2220O; Reading second
preferred, 1890; St Paul, l3.1OO; St. Louis
ana San FRANCISCO, 10000; Southern Pa
cine, 500; Southern Railway, p, 700; South
ern Railway preferred 49, 800: Union Pa
cine $500; Union Pacific preferred, 1900;
Baltimore and OHIO preferred 23.5D:
Amalgamated Copper $4,000: American
smelling, 5000; Steel Hoop COCO: Ameri-
can Tobacco H,40O; Anaconda Mining
$500; Brooklyn Transit. - 800; Federal
Steel $500; Federal Steel preferred 1880:
General Electric, 900; Peoples Gas, 1900;
Sugar 100 900