The Savannah morning news., 1901-07-20
STOCKS AND BONDS.
The Market Closes weak at the
Lowest of the Day.

LOWEST OF tue
New York, July 19.-The character of
to-days stock market was much the.
same as that of yesterday. but there was
conspicuous absence of the late enor-
nous demand. which lifted Union Pacific
yesterday in the closing dealings. The
volume of transactions was rather larger
than yesterday, but the market was new
ertheless highly professional. Much liqui-
dation had to be absorbed by those who
had set themselves the task of support
ing the market, and the burden seemed to
be too heavy to carry.
Prices broke through support in the late
dealings, and the market closed weak at
the lowest of the day Even those
stocks which had shown strength during
the day had very little left to show In
the way of gains, and the stocks, which
were conspicuous for strength yesterday
were conspcuously. weak. The stocks Sc
lected as props for the market to-day
seemed to, be principally amongst the
Southern railroads and the Gould South
westerns, Included with the latter were
Western Union and, Manhattan. Texas
and Pacific was at one time points over
last night and there was large buying in
Missouri Pacific. United States Steel
stocks seemed to be well under control
by insiders and they were marked up
sharply over point each during the pc
Rod of strength in the market.
The sustaining force of these advances.
however, was steadily taken advantage
of to realize in the railroad list. Union
Pacific, ST. Paul and Atchison were the
most conspicuous objects of the selling
| Southern Pacific at one time broke away
from the group and was marked up to
59@, apparently in pursuance of the de-
sign OF supporting the market for realiz-
ing purposes the device proved only mod
erately successful, as did others of the
same character In the late reaction the
decline in st. Paul extended to 53s, Union
Pacific to 52, Atchison to 3D. Missouri
Pacific to S15 and Southern Pacific to 3%.
Much of the selling seemed to be prompt
ed by the renewed fears of disaster to
the corn CROP the same motive being at
work In the corn market. The selling
for Western account was very large and
was attributed to important interests.
The selling for London account was an
other important factor in the days mar
ket. It was most conspicuous in the
United States Steel stocks, but extend
ed besides to others of the International
ly listed stocks. The days total sales for
that account were estimated at as high
as 10000 shares.
This development was a factor in the
firmness of sterling exchange in New
York and the easier tone of money in
London. The seeming dsinclination to
continue the support of the market by
the group of capitalists to whom specu-
lators have been looking for that purpose
emphasized the disposition to sell. The
weeks, movement OF money to and from
the Interior gives promise OF a strong
bank statement. The weeks large dis
bursements of pensions, payments of ac-
counts of gold deposited with the gov
eminent at Pacific coast points and some
large expenditures by the government,
on other accounts, has resulted in gain
from the sub-treasury of 49, 100000 The
express movement of cash to and from
the interior Is said to have netted to the
banks as much or more. The changes in
the loan item are slightly problematical,
the liquidation early in the week posi-
bly, having been offset by the later meas
ures TO support the market.
The bond market was moderately active
and Irregular. Total sales. par value.
81, 500 900 United States bonds were all
unchanged on the last call
The total sales OF stocks to-day were
1.7OS, 100 shares, including Atchison 50, 500;
do preferred. S,7OO; Chicago and Great
Western, 1920; Erie, 1890; do first pre-
ferred,. 100; Missouri Pacific, 80 100; Man
haitian 5000; Louisville and Nashville,
1920; Ontario and Western. 1850; Penn
sylyania, $500; Reading. 1890; do first
preferred. 6100 do second preferred, T.
200; st. Paul, $500; Southern Pacific, 154,-
200; Southern Railway $500; Texas and
Pacific 1880; Union Pacific, 2l5,S00; Wa
bash preferred, 1890: Copper, 17.3OO
Brooklyn Rapid Transit, 1900; Peoples
Gas. 7l0O; Sugar e, 400; Tennessee Coal
and Iron, 6lOO; United States Steel, 1885,
700; do preferred, $500; Western Union,
H7OO.