The Savannah morning news., 1901-03-25
WEEKLY MARKET REVIEW.
stocks Active and BuOyant-Cotton
Very Weak-Wheat Slightly Lower.

stocks Active and BuOyant-Cotton
very WeaL-Wheat Slightly Lower.
Following the indications as pointed
out here last week, the stock market was
strong and very active. AS usual of late,
a good deal of irregularity was shown,
the leading points of strength being sew
eral great railroad groups, notably the
southwestern group, the various iron
STOCKS and Tobacco. The Wabash shares
were largely in request and the PREFER
ed rose TX points to AZ. 1t will be remem-
oered that when this stock was inactive
ana neglected, purchases were advised in
TINS review around 90 1t is not unlikely
to go to somewhere near co. Missouri Pa
cifc and Louisville both distinguished
themselves by going we'll above par. the
former making net gain of points
ERIE was another strong feature, the pre-
lerred advancing points; advices on this
STOCK are very bullish. Burlington made
new nigh record of 16S on Tuesday, but
fell back several points later.
Inc iron stocks all turned strong on
the favorable trade Developments and
brilliant success of the big steel combine;
Colorado Fuel and Iron became a fea-
ture. The New York traction and Gas
Favorable reports on Tobacco caused
an advance on Monday to 1875, the high
est point so far This stock now looks
pretty well up for a per cent indus.
trial.
The bank statement on Saturday was
favorable, and for the present the gen
eral tendency of the market appears still
upward.
Cotton was very weak and on Thurs
day the market was pretty badly demon
allied. sharp reaction of 20 points on
Friday was not sustained, for the mar
ket relapsed on Saturday, and closed
heavy. May sold down to 1850, closing
at 1880, net loss of 80 points July and
August were the weakest positions. los
ing over 45 points. Even the new crop
months failed to fare much better, No
Vember closing 81 points lower at 72Oc.
Naturally the news was all bearish; the
crop movement exceeding last years by
over $1,000 bales; the interior receipts be-
ing nearly double last years. Then the
depression in the dry goods trade con-
uhues to get no better, and Eastern and
european politics had sentimental in
huence. In addition to all these came dis
couraging reports from the South of an
apparent intention to largely increase the
acreage. Nothing at all was said about
the expected March corner, and the trade
no longer has any idea that anything of
the kind will be attempted.
EVERY southern paper ought to keep
out standing notice to the planters that
nothing in the world will prevent cotton
from going back to sc next fall, if they
VIII persist in the suicidal policy of over
Planting.
Wheat was variable, but ruled lower.
closing steady at a decline of about PC.
May 76Ac. Wheat is high enough, CON
sidering the crop prospects, and sales on
the firm spots ought to result probably.
July has now about recovered its former
discount, and appears a safer sale than
May at equal figures. There was consld-
cradle excitement in provisions, due
mostly to corner in May Pork, and also
70 rumored deal In May ribs. Both op-
tons, however, fell back some as soon
as the intended operations had been wide
~ advertised At this juncture provisions
seem safe to let alone; they are high.
but are very dangerous to be short of.
~