The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-02-16
STOCKS AND BONDS.
Money Rates Easier and the Market
Strengthens.

made a good recovery in the latter part
of to-day's trading under the aggressive
leadership of Burlington. New York Cen
tral and Delaware and Hudson. AS a re-
suit the majority of stocks show net
gains, but most of these are small
During the greater part OF the day the
market was distinctly reactionary and
dr,fted downward whenever any consider
able offerings came upon the market
The spots of strength here and there
among the more obscure stocks did not
sustain prices in the general list. Lon
don's buying of Americans served only
as temporary prop, although the open
ing advances extended to about a point
In several of the International stocks.
A further violent break In the Smelt-
ing stocks which carried the common
down Pa and the preferred was the first
development to seriously undermine the
market. The metal stocks were all af-
fected in sympathy and the losses in the
steel stocks ran up to points New
YORK Central was one of the early points
or strength, and Delaware and Hudson
was also firm throughout. but the market
did not respond to these until supple
mented by the late movement in the
grangers. The absorption of Burlington
rapid stages 81, from the lowest. estab-
fishing a~net gain Of "A. There was no
news to WHplain the squirt in this stock.
but II was supposed to be concerned with
developments looking to a trans conti-
mental outlet for Burlington. The grang-
ers improved about points or better In
sympathy. There were strong recoverics
in Brooklyn Transit and Sugar
which, however, left them only
small net gains, owing to their
early weakness. The general list
was at one time a point or more below
last nights level for the principal active
stocks. The late rally was not by any
means universal, but many prominent
stocks were lifted from their carly de-
preston. New York Centrars rise of on
and Delaware and Hudson of 10 points APP
parently had some connection, although
what 1t was was not disclosed
Among the notable movements of usual
~ obscure stocks may be mentioned
rise of 10 points In American Express, IA
in Evansville and Terre Haute. for the
preferred. 8 for the new North American
stock and "a for the old, for Texas and
Pacific Land Trust for General Elec-
trio with a reaction Of 3la. 81 for Wheel
ing and Lake Erie second preferred and
for Pullman and Minneapolis and st
Louis, the latter relcting 9
Apparently the suspense of the con-
tihued negotiations over the great steel
merger and uneasiness over the money
outlook were the influential factors in re-
pressing speculative activity. A decline
in the call money rate to IL per cent.
at the close had something to do with
the final rally. The ease of money belied
the forecast OF the bank statement,
which indicates a weak return; but with
large receipts OF customs and the pay
ment of nearly 5000 900 on account Of a
Central Pacific note. the sub-treasury has
taken from the banks thus far this week
SO $4,000 in spite Of the high level OF pen
sion disbursements reached during the
week The banks have continued TO re-
ceive currency from the interior, partly
in the snaps Of gold from San Francisco
by registered mail. The amount Is esti-
mated at over s20OO,CO0 1t will be seen
that this indicates a cash loss OF between
81 ,000,0 600 and $2,COO 900. The loan item,
however, is OF principal interest There
have been additional large damands for
railroad finances during the week and the
general supposit on II that a payment OF
something like S25C00.C00 has been made
to Mr.. Carnegie on the steel deal. which
will figure in the loan item The softness
Of the money market this afternoon may
be the prelude Of a surprise In to-mor-
rows bnnk statement.
The activity of the bond market de-
clned I'm sympathy with stocks ana prices
moved irregulnrly Total sales par value,
SO $40 600. United States refundlng twos
advanced x per cent. ana the threes a on
the last cnll.
The total sales Of stocks to-day were
922, 500. including A'ch'son Il 800: Atchlsan
preferred. 116OO Burlington. 1900: Chi
cago. INDIANAPOLIS and Louisville g. 800:
Chicago and Northwestern. $500; Rock
Island. 1000; Delaware and Hudson Ss.-
iO0 Louisville and Nashville. s 500; Man
haitian. 800; Missouri. Kansas and Texas.
600; Missouri, Kansas and Texas pre-