The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-10-29
ESTABLISHED 1872.
STOCKS AND BONDS.

New York, Oct. 2S.-There was no
very aggressive bull spirit manifest
from the outset in to-day's stock mar
ket, although there was some support
for a special stocks from time to time
and a rather hating attempt made to
revive the spirit of the bulls by bid
ding up a group of specialties about
midday. go
The demand for stocks, however, was
at a minimum and prices kept sagging
to lower level The,F~essure was not
severe through the greater part of the
day, but gained force and in the last
hour of the session became acute. The
bears added their selling TO the realiz-
ing and uncovered stop loss orders. The
realizing was by recent speculative
buyers evidently, as wars shown by the
which have been under recent manipu-
lation for the advance. The weakness
became quite general at the last and
the majority of active stocks fell
point or more below Saturday. The
taking of bear profits by the room
traders caused only feeble rallies and
the closing was weak at about the
lowest,
Undoubtedly the hardening tendency
of the money market and the prospect
of gold shipments to Paris this week
prompted the speculative liquidation.
But 1t was true also that a growing
spirit of doubt arose as to the recently
current rumors which have been the
basis for advancing prices. The clouds
of uncertainty which have gathered
again over the Northern Pacific set
Element seemed to gather gloom in the
speculative mind after Mr.. Morgan had
arrived at his office and no instantan-
eous statement of settlement was
given out. The. renewed weakness OF
Amalgamated Copper was also an un-
settling feature. The selling of this
stock and of Sugar was very heavy for
Boston account. Call loans rose to-day
to per cent. and the assurance which
was professed on Saturday over the in
crease in the cash reserves of the
banks was dissipated and yielded to
anxiety, on account of the large loan
expansion. Foreign exchange con-
tinued firm to-day but no gold was en-
gagged for export to Germany by to-
morrow's steamers. In fact the dis
count rate at Berlin eased off a frac-
ton to-day and sterling exchange
hardened, indicating relaxation of
the pressure at that point. There was
no rally. however, in sterling exchange
at Paris and it is generally expected
that gold will go from New York to
that point on Thursday in considerable
volume. Call money stiffened sharply
in London and open market discount
rates rose well above the bank rate.
indicating an early advance by the
bank.
In the domestic money market re-
neWed activity. of mohey at Western
points was reported, and New York .ex-
change at Chicago dropped back to rs
cents discount while shipments to New
Orleans from. here, con ttnue. A.
The railroad bond market was in
fiuenced by the weakness in stocks but
changes were notI important. Total
sales par value $2100.e00. U. S. bonds
were all unchanged on the last call
The total sales of stocks to-day were
GAP, 100 shares. including Atehison 1890;
Chicago. Great Western $500; Erie U.s.
900; Manhattan $500; Missouri Pacific
A, 400; New York 500; Pennsylvania
14.70O; Reading 14,4O0; Reading second
preferred $500; st. Paul 101, 300 South
ern Pacific 26,300;- Southern Railway
1880; Union Pacific 1880; Mmalga-
mated Copper $1,000: Brooklyn $500;
Peoples Gas $4,000; Sugar q, 400; Uni
ted States Steel 40, 700; United States
Steel preferred 21,50O.