The Savannah morning news., 1901-11-08
STOCKS AND BONDS.
The Market Closes Under the Press
ure of Heavy Realizing.

New York Nov. days stock
market was much broader and diversi-
fed than. that of yesterday and the
aggregate dealings rose well above
yesterday to near 1850 900 shares.
There was enormous realizing in the
stocks, which led the advance yester-
day, especially in Union Pacific and
St. Paul, which ruled below yester-
days closing level practically all day,
falling at one time 15s for st. Paul and
rs for Union Pacific. The heaviness
of Northern Pacific preferred, which
fell rs on comparatively light trans
actions, taken in connection with the
reaction in the two stocks previously
named, it would be supposed might in
dictate doubt as to the Northern Pacific
settlement, the more so as no author
lied statement of the terms of the set
Element or even of it's actual consum-
nation can be had from any source.
The conviction, however, remains
strong in speculative circles that the
agreement is in fact perfected, although
nothing on the subject but acquiescent
smiles or vague intimations can be
had from insiders. The corroboration
offered by the tape is considered con-
elusive, and also that Union Pacific
and St. Paul are to benefit substan-
TALLY by the agreement. just how in
the case of the latter is not even inti-
mated The selling of these stocks,
therefore, was accepted as due to mere
realizing of speculative profits, while
the market continued to advance with
vigor at other points.
The forcing to cover of the bear in
terest in some of the specialties re-
Gently under pressure was an import
ant influence in the advance. conspic-
uously so in Amalgamsted Copper.
Sugar and Peoples Gas. Among the
rans-continental stocks the Atchisons
alone continued the advance with any
great show of energy. The common
rose at one time 23s and Southern Pa
cific got IA over yesterday, but lost 1t
all on the reaction. An advance of 3h
in New York Central was a feature of
the market, and lifted with IL a num-
Der of the Junior Vanderbilts. Lately
current rumors of a pending concen-
tration of the system and Increased
distribution of profits were revived in
connection with the movement. The
statement of October earnings for New
York Central, showing an increase of
II per cent. over those Of last October
was also an influence.
The coal carrying roads, both in hard
demand, and show gains Of 162 points.
The United States Steel stocks devel-
oped strength at gains Of point for
the common and rs for the preferred
on glowing accounts of the activity in
the trade. There were many rumors
flying Of a determination on the part
of insiders to advance these stocks, but
the rise met with very heavy realizing
and the gains were largely wiped out.
The movement TO realize became very
general before the close, and the ad-
vances were curtailed in all points and
entirely wiped out In few cases. The
market closed easy under the influence
OF realizing.
The railroad bond market was very
active, but the reaction In Union Pa
cific convertible bonds made an other
wise strong market irregular Total
sales, par value, $6,sl0,000. United
States bonds we're all unchanged on
the last call.
Total sales OF stocks to-day were
l.2i4.sO0 shares, including Atchlson. ST.
500; Atchison preferred, 81 800: Balti-
Ohio 81, 500. Erie 80. 100; Erie first pre-
fsrred. $500 Illinois Central. $500;
Louisville and Nashville, 1900, Man
haitian, 24.400; Missouri Pacific ~, 800.
New York Central. - 800; Norfolk ana
Western. $500; Northern Pacific pre-
ferred, 600; ontario and Western, o.
100, Pennsylvania. 81 100. Reading. 3d.
800. Reading first preferred. 1900.
Reading second preferred, 1850. sf
Louis and san Francisco. 1900. ~
Paul, $500, Southern Pacific, 5000.
EoufherD Railway 1880. Southern
Railway preferred. 300, Texas paclhc,