The Savannah morning news., 1901-10-17
STOCKS AND BONDS.
Net Losses Scored During the Days
Trading.

IfauInEs
New York, Oct. 16.--To-days stock
market reflected puzzled and hest
tating mood amongst professional op-
orators, who again made up the bulk
of the market. There was a marked
disinclination to take on long stock
and some timidity about making con-
tracts on the short side. Several spe,
cial factors turned the tide toward de-
preston and net losses were the rule,
although they are not important in
the general list.
An organized bear campaign against
Amalgamated Copper, which was aided
by much outlay of printers ink unset
tied the market early in the session.
The selling of the stock was by Bos-
ton houses. The price fell at one time
2es under yesterday and closed at a
net loss of 2 points. The break in
Amalgamated Copper interrupted an
incipient rise in Pennsylvania and it's
allied stocks prompted by the report
of the sale of s20,000,O00 of bonds by
the company. This was held to ac-
count for the large buying of stock
yesterday. The effect of to-day's am
nouncement, however, afforded little
days purchases, although much inter.
est was shown as to the purpose to
which the proceeds OF the bonds would
be applied. AS the purchases of stocks
of other railroads so far as officially
acknowledged by the company has
been provided for by the additional
stock issues, 1t was supposed that the
purchase of control of the Cambria
Steel Company was being provided for.
p,,ll
that purchases of Atchison were in
contemplation by Pennsylvania, but
there was no response in the specu-
lation. The market showed a tendency
toward stagnation during the after
noon until sharp raid against the
Southwesterns late in the day awaken
ed some degree of activity at the ex-
pense of values. Losses of from 1 to
25s were made by all the members of
the group. Bear operators protested to
detect evidences of inside selling
which was attributed to the act of in
terest dominant in the group and sup
posed to be prompted by poor outlook
FOR traffic on account of bad crops.
The money question continues a
somewhat depressing influence. A
transfer through the sub-treasury to-
day of $3.50 900 additional to New Or
leans adds to the apprehension that
cause large requirements in that
quarter. The transfer to New Orleans
thus far this season through the sub
treasury amount to only 1850 900 COM
pared with $7,420,000 to this date last
year. Last year. however, the Gal
weston relief measures were RESPONSE
| BILE for a part of the movement. The
renewed movement, the withdrawals
| by the sub treasury on account of the
1 ND CT
i mand from Buffalo to meet a run on q
| trust company THERE will all effect the
| cash showing of the banks this week
| The question is now canvassed as &c
! the effect on the loan item of the pur-
| chase of Pennsylvania Company
bonds. the soft coal consolidation which
| is in process of formation, and the
| transfer of a great mercantile estab-
| ushment which was reported this
morning The emphatic denials by
President Hill of last weeks rumors
| of trans continental railroad consoli-
| dations was another chilling effect on
| the speculation. The market was weak
until the room traders took their
profits by covering their short con-
tracts. Sales of Lake Shore at 300,
record price, was an incident.
Railroad bonds were less active than
yesterday and were Irregular. Tota
sales, par Vaiue, sS,zoo.uVV' Ohiteu
States IS coupon advanced "a per cent
on the last call
The total sales of stocks to-day were
477.9OO shares, including Atchison, 25,-
900: Missouri Pacific 1900; Norfolk
and Western. $4,000; Pennsylvania, 49,
700: st. Paul, 29.500; Southern Pacific,
SO, 900; Texas and Pacific, $500; Union
Pacific, 26. 900; Wabash preferred, 1900;
Amalgamated Copper, $4,000: American
Smelling, 5,400; Anaconda, $500:
Brooklyn, 5,000 Sugar. 1880; United
Sites Steel. 1920; do do preferred
$780,