The Savannah morning news., 1901-09-28

liquidation in them as we'll as else
where in the market was materially
lightened and they shared in the late
general improvement of the market.
A sharp rally in the price of spot
copper in London had an important
bearing not only on the status of these
stocks in the speculative market, but
on the copper trade outlook 1t was
reported that the Amalgamated Cop
per Company was supporting the spot
copper market in London. Whatever
the cause of the rally, yesterdays con-
tention that copper could be imported
at a profit was disposed of and the
fear that the Amalgamated company
would have to cut the price of its
product was less acute. The stock
sold eX-dividend and more than recov-
cred it, but closed with a net gain OF
only Ia. The recent notable buying
Of the Vanderbilts was resumed, the
conviction growing that an early plan
of merger would be announced. New
York Central rose 3A and the junior
Vanderbilt group from / to 5h. In
the liberal speculative mood, Della
ware and Hudson, Buffalo, Rochester
and Pittsburg and probably some of
the more obscure railroad stocks that
moved during the day were embraced
in the plan by the faith of operators.
A very large number of inconspicu-
Gus stocks were made active at adj
vances all the way from / to 71s.
Among those in this category were the
Minneapolis, ST. Paul stocks, the Du-
luth, South Shore and Atlantic stocks,
DesMoines and Fort Dodge, the Iowa
Central stocks, Evansville and Terre
Haute, Minneapolis and st. Louis, the
Toledo st. Louis and Western stocks
and Kanawha and Michigan. The Coal
ers and trunk lines responded early to
the influence of the Vanderbilt move
ment and the leading specialties in
Guiding the various steel stocks and
the local fractions showed evidence of
strength, but It was not until late in
the day that the recent leaders of the
market among the Changers Pacific
and Southwesterns moved strongly up
ward. The level of prices on the day
shows an average advance of near a
point.
The promise of n favorable bank
statement helped the late strength of
the market. The movement of cur
rency to the interior is nearly $900,00
less than last week, while the receipts
by the banks are almost as much
greater The sub TREASURY has contrib
uted to the money market $3,293, 600
Notwithstanding deposits with that i'm
stitution for transfer to the inerior of
over $1,000,OO0. The gain on this ac-
count is due to the fact that the gov
eminent has paid out for redemption
of bonds at New York this week no
less than $4,32o1S1. The net result
to the banks on all accounts indicates
a gain in cash of considerably more
than two million dollars. Bankers gem
orally expect a large loan contraction
as a result of the weeks liquidation in
stocks, promising a notable recupera-
ton of the surplus reserves.
There was a good demand for rail-
road bonds, which were slightly irreg-
ular. Total sales, par value, s2,255, 900.
United States bonds were all unchang-
ed on the last call.
The total sales of stocks to-day were
52l 100 shares. including Atchison, 49,
400. Canada Southern, $500; c., c., G.
and St Louis, 1000; Erie, 14,700 Iowa
Central preferred, $500; Lake Erie and
Western, $780, Manhattan, 21 600; Mis-
souri, Pacific, 1880; New York Cen
trail 81. 100: Pennsylvania. 16,400; st.
Paul, 23,200; Southern Pacific, 1880;
Southern Railway, $500; Union Pacific,
20, 700; Wabash preferred. $500; Anal
gamated Copper. $500: United States
stel 2s,sOO; United States Steel. pre-
ferred, 10000.