The Savannah morning news., 1901-06-22
STOCKS AND BONDS.
Dealings Again Over Half Million
Mark.

DChhh6H HBahh ONCE
Mark.
New York, June 21.-The prospect of a
better bank statement tomorrow than
has been expected caused a more cheerful
feeling in the stock market to-day. Advices
were quite wide in some quarters of the
market, and there was an appreciable in
crease in the interest in the market. the
dealings again rising over the 100000 mark.
The apprehensions, which have been felt
regarding the effect Of the weeks gold
exports, were alleviated by the publication
of the preliminary estimates of the cash
movements of the week. which showed
that several factors had co-operated 10
offset the outgo of gold.
The most important of these was a large
influx of cash attracted from the interior
by the harder money rates here. This
movement has apparently served TO off,
set the drain to the sub treasury and
left a margin Of gain for the banks OF
over 100000. The sub-treasury opera
tions themselves. although they include
the payments for almost S.. 100000 OF gold
exported. showed an actual withdrawal
from the market of only s2,29f 900. The
months high level of pension payments,
the repayments for bonds redeemed I'M
der the offer of the Secretary of the
Treasury, and the redemption OF checks
issued against the deposits of gold in San
Francisco and Seattle, are the offsetting
factors.
The changes in the loan item are of
course problematical. Rumors were ripe
of the liquidation of some heavy cor
porIate loans. The completion of the sub
scription payments on the new Penpsyl-
wanna stock, which was issued to reim-
burse the company for recent purchases
of stocks in other companies, affords
means for the liquidation of the large
loans incurred while. the purchases were
being made. The Pennsylvania collat-
eral loans on this account were stated at
over $20,0000O0 in the annual report, and
this admittedly had been added to since.
The explicit statement was made to-day
that these loans had been paid this week,
but no authoritative information could
be obtained on the subject. The tone
of the money market was easier to-day
Al new version of the St Paul deal to-
day rad IL that the block OF $4,000 shares
of st. Paul stock, recently reported sold
to Union Pacific interests was in fact
to be exchanged for an amount OF Union
Pacific stock estimated at an equal value,
thus firthering the establishment of
community of interest. There was re-
newed buying by some of the large spec
Ulative operators, who have been quies-
cent this week. Union Pacific was car
ried points over last night, and st. Paul
at one time 2, although the latter stock
reacted Peoples Gas was marked up
over points on the prospect OF con-
tract with the Chicago authorities.
American Einseed preferred rose 4 on
the advance In the price OF the product.
The local traction stocks were strong,
led by Manhattan and Sugar showed a
good gain. but without explanation. There
was an unusually large number of low
priced railroad and Industrial stocks,
which are not usually active that rose
from to 4 points without explanat ton.
The market closed quiet and steady. with
some stocks selling at the top.
The speculative railroad bonds were
quite generally active and strong To-
tai sales, par value, M,1s5.O00.
United States bonds were all unchanged
on the last call.
The total sales OF stocks were e34.2o0
shares, including Atchison. 1900; DO pro-
ferred, 6.100; Canadian Pacific. $500; Chi
cago and Great Western. H.l00; Erie, TO-
30; Iowa Central. 1880; Louisville and
Nashville. 500; Manhattan, 1910; Mis-
souri, Pacific. 80. 100; Ontario and West
ern. 1850; Reading, 12400; do first pre-
ferred 1900; 81. Louis and San Fran
CISCO 13.10O; ST. Paul. $1,000 Union Pa
cifc. 1.700: Wabash. 14,40O; do preferred,
90. 800: Amslgamated Copper. 1900; Amer
lean Car and Foundry. 300: American
Smelling 700; American Tobacco, $500:
Brooklyn. 5000: Peoples Gas II 400: SUI
gar. 1900; Tennessee Coal. 500; United
States Steel, l2,7o0; do preferred. $500.
New York stock and Bond List.
Railroad Stocks