The Savannah morning news., 1901-01-29
STOCKS AND BONDS.
Under Lead of st. Paul Prices Rise
aud Then Recede.

Under Lead of st. Paul Prices Rise
aud Then Recede.
New York, Jan. 2s.-The huge proper
ton of the dealings in st. Paul made 1t
the dominant factor In to-day's market
Its influence was marked on very few
stocks. most nearly affiliated with it.and
the general list showed a dragging ten
dency, both on the upward and the down
ward course.
The violent and erratic movements in
st. Paul kept the market confused and
unsettled for the greater part of the day
There were considerable gains establish
ed during the early dealings, and later
in the day prices fell considerably below
Saturdays level, but the net changes are
for the most part small, and some gains
are mixed with the preponderant losses.
st. Paul was al one time nearly 8 points
above Saturday and at another time
over points below, and closed the day
with a net loss of Ia on sales of 259,-
900 shares. The intermediate movements
were excessively erratic and feverlsh. A
very Noticeable feature of the trading in
the stocks was the much heavier volume
of transactions OH the advance than on
the decline. Very heavy offerings had to
be taken, in fact, before the advance
was inaugurated, the price running off a
point from the opening under the crush
ing weight of the offerings, and very
heavy blocks being taken at each stage
of the advance. When the price had
touched 1885, the buying demand receiv-
ed an abrupt check, and was not at any
time afterwards equal to that of the
first hour, although there were consid-
cradle REVEALS of demand from time 10
time. on the down grade from 1885 TO
l52l2 the offerings did not appear to be
OF overwhelming volume, but there was
not sufficient demand to absorb them.
The tipsters this morning put out state
ments in great detail OF the completed
plan for the transfer of ST. Paul stock
in exchange for bonds of the Great
Northern and Northern Pacific. 1t was
further announced that the plan would
be officially published to-day. Up to the
close of business the promised plan had
not been published and this was all the
news of the day bearing on the stock.
The st. Paul movement was supplement
ed by strong rise In Kansas and Texas
preferred and In Manhattan
Inc first irregularity of the market was
caused by weakness in the steel group.
in which the opening gains had been
moderate. The session Of the directors
of the American Steel and Wire Com
pany focused the attention of specula-
tors in the group. No decision was an
nounced on the dividend question before
the market closed, but the stock. after
selling down to 3sA, had a spasmodic
rally to Al in the final dealings. The 9TH
er steel stocks which had weakened in
sympathy notably Federal Steel, did nos
nave time to respond before the close
There was sudden stiffening of Soutn-
ern Pacific in the final dealings also, but
the closing generally was heavy and dull.
The cause of the reaction in the market
seemed to be confined to technical
sre uhds, the Spectators who bought so
largely on Saturday on the strong bank
statement selling to realize, and finding
very little demand to absorb their offer
ings London was a small seller on bal
ance through the usual channels, but the
further advance in sterling exchange
MADE 1t evident that the homeward
movement of securities continued very
heavy. The atmosphere of the London
stock exchange was reported to be Sc
rene, and recent apprehensions regarding
this weeks mining settlement seemed 10
be allayed.
Bus ness in railroad bonds continued
large and prices advanced in the early
d, a.ings, but yielded in sympathy with
stocks. Total sales par value S3.s7e.OOo
United States bonds were all unchanged
on the last call
The total sales Of stocks to-day were
l.OJ6,'OJ shares, including Atchison com
mon 24,6OO; do preferred II. 900; Chicago
burlington and Quincy 1880; Rock ISL
and 1880; Erie 1910; Erie first prefer.
red 10 800; Louisville and Nashville $500;
Manhattan 10000; Missouri, Kansas and
Texas 1880; do preferred 81, 100; Norfolk
ana Western 1880; Northern Pacific 81
800. Ontario and Woctar,, Q Oon.
Vania $3.50; Reading G, 300; Reading frs4
preferred 5000; st. Louis and San Fran
cisco 1000; st. Louis Southwestern pre-
ferred 6,1C0; st. Paul 252 900; Southern
racine 5000; Southern Railway 1900:
Union Pacific 36,4OO; Wabash preferred
$500; American Smelling Is, 500: National
lube $500; American Steel and Wire AZ.
SOo; American Tobacco 6,1O0; BROOKLYN
70 700; Continental Tobacco II, 100: Federal
steel $50; Pacific Mail $500; PEOPLES
~"s O'4Oo; sugar l.Ooo; U. S. Leather 49, 100.