The Savannah morning news., 1901-01-22

supply further margins and who order the
sale OF their holdings, either to take what
profits are left or to save losses. The
professional bear operators are able 40
judge pretty shrewdly of the probaNle
volume of such orders.
This purely technical influence in the
market was reinforced, this morning by
the feeling OF depression. common to all
securities markets OF the world, over the
approaching death of Queen Victoria.
The death OF the Queen is not likely to
have direct influence on values of Sc
curities either here or abroad but capt.
tai always apprehensive over a change
in the order OF things, expressed itself by
the selling OF securities. In the open
ing break in prices such declines were
witnessed as SIS in St, Paul, Slz in Penn
syivania, 5 in Northern Pacific, 81 in
Amalgamated Copper, from. to points
In the steel stocks and to 2 points in
the principal active stocks all through the
list
The first clement in the rally was the
unwieidy short interest, which stood Gag
eriy awaiting TO take profits by buying
stocks at the decline. There was an in
fiuential section OF the market also which
refused to yield to the depression. Mis-
souri, Pacific gave way only Y and was
immediately marked up to a level sub
stantially above Saturday and held these
throughout the day. In the late dealings
II rose buoyantly 10 90A, which was 5is
above the early low point. The traders
followed the movement in the belief that
the largest buying of the stock came
from sources which have been credited
FOR some time past with plans for taking
over and consolidating the Southwestern
railroad hat MI
firm throughout the day and the Wabash
issues shared quite fully in the strength
OF missouri Pacific Wabash common
rose 25s, the preferred as and the deben-
lures Az.
The character of the buying In other
parts of the list gave the traders ground
Tor the supposition that a renewed alb
sorption of stocks was going on by the
powerful banking and financial interests
which were buyers of important stocks
before the many recent rumors OF vast
consolidation gained currency. This
caused fright amongst the shorts and
IN attempting to get back stocks sold
earlier they caused prices TO advance
very generally above Saturdays level. In
st. Paul the rally was Az points. in ANAL
gamated Copper Az, in the local fractions
from 2A to 81. in Peoples Gas. In Su-
gar and Tobacco from 2la to 2%, in North
q" dSliC o14, III Union racine ana
pennsylvania "a each, and In a large
number of the active stocks from l to 2
points. The steel stocks were not as
prominent in the rally as the rest of the
market and Pressed Steel Car extended
It's loss to 5lz points after the general
market had turned upward. The clos
ing was firm and at about the best prices
of the day.
Railroad bonds were easier until the
large demand developed for Wabash de-
pentures, when they became irregular. To-
tai sales par value 5,4O5, Co., u. s. re-
funding. rs advanced q per cent. on the
hast call.
To-day's total sales OF stocks were 49,
700 shares, including Atchison. 10000: do.
pfd., 31,1OO; Baltimore & Ohio, 500; Ches-
apeake & Ohio, $500; Burlington, A,9OO;
ROCK Island, 1880; Erie, 46,100; do. first
pid, $500; Louisville & Nashville. 14,lOO;
Manhattan, $500; Metropolitan, $500;
Missouri Pacific, $500; Missouri, Kansas
d Texas, pfd., 2S,10O; New York Central,
5fVo; Norfolk & Western, 1900; Northern
Pacific, 1890; Ontario & Western. Al 500.
pennsylvania, 10000; Reading, 32.OOo:
Reading, first, 1920; Reading, second. H.
500; st. Louis Southwestern, 5000; do. pfd
$500; ST Paul, $500; Southern Pacific.
5000; Southern Railway, II, 700; do. pfd..
Seo0; Texas & Pacific, 81 200 Union Pa
enc, 1890; Wabash, 21 800; Wabash, pfd..
oSoVV; Copper, 33,S00;i Shelters, 1900; Steel
ana Wire, 20, 400; American Tin Plate. g.
Ovo, Tobacco. - 900; Brooklyn $500; Col
oraio fuel, 1890; Continental Tobacco.
n'SOo Federal Steel, 81, 5OO North Amer
lcan, 1880; Peoples Gas, 24,200; Sugar.
$4,000; Tennessee Coal and Iron. 6, 400:
Leather, $500.