The Savannah morning news., 1901-04-04

with an unsparing hand through the
stunning avalanche of offerings which
was hurled upon them on the advances
and lavished their resources apparently
with an abiding conviction that the as
founding rise in prices now so long con-
tinued, was destined TO go indefinitely
further.
That the speculative spirit was still
rampant among a large circle of the pub
lie was obvious from the large and eager
following which was attracted by any
snow of strength at any point in the
list. 1t cannot be said that news in the
ordinary sense had anything to do with
the extraordinary buoyancy of the mar
ket, although rumors were plentiful and
all embracing. 1t was also marked
characteristic of the market that the
dealings were heavily predominant in a
limited number of stocks, and that the
general speculation was decisively influ-
enced by the movement of these.
Two stocks stand out conspicuous even
in this list, the price movement in which
was astonishing throughout. These are
Delaware and Hudson and Rock Island.
The former stock was the conspicuous
leader of the early rebound from the
slight opening depression Rumors were
circulated that a lease had been signed by
troll and guaranteed dividend OF per
cent. for a year and s per cent. annually
afterward. The stock was run up an ex-
treme 1879 points to 1851. Rock Island
was under rather severe pressure at the
opening and was forced 1h under last
night. 1t was not until late in the day
that it assumed the leadership of the
market When it was rushed up by rapid
stages on the purchase of blocks of thou
sands of shares to Isl, at which point it
closed at an extreme rise from the lowest
of 1874 points. 1t is not often in the his
tory of stock markets that such a move
ment is witnessed in a stock of a large
floating supply, a large capital issue and
the holdings of which are widely distrib-
utad
There were kindred movements to these
elsewhere both amongst the grangers and
the coalers. The buying of the grang-
ers seemed to be based largely on general
considerations, the large earning power
of that group of railroads even i'm face
OF last years spring wheat shortage be-
ipg cited as giving assurance against the
ordinary vicissitudes of the crops, to
which they have been so sensitive in the
past The movement resulted in an ex-
ltreme advance of S9s in Burlington, in
St. Paul and Omaha, ) in the preferred
SA in Northwestern, Az in the preferred,
z;s in st. Paul and 80 in the preferred
The rise in Lackawanna was obvious
ly In sympathy with that in
Delaware and Hudson, and ex-
tended to So Peoples Gas became very
buoyant at the last and rose an extreme
rs in company with Rock Island Mis-
souri, Pacific was up 81 and Illinois Cen
trail "a.
There was am enormous amount of
= a l. in III i.
few stocks escaped without serious in
roads upon their best prices, the reaction
extending to as much as 5 in Delaware
ana Hudson and large amounts in other
volatile stocks. There were some impor.
tant stocks which showed no wide move
ment all day, some of them closing al
declines. This was notably true of the
steel stocks, which were under pressure
all day and We're much less actively trad
ca IN. The engagement of an additional
$l,OOO,OOO In gold for export was totally ig-
nored. The demands of the enormous
speculation made no impression upon the
money market, and the additional pur-
chases of govement bonds by the secre-
tary OF the treasury kept opinion opti-
mlstlc over the money outlook
Dealings in bonds were large and tina
market irregular. Total sales, par value
$S'bSo OOO. u. s. new As advanced Il and
cid AS coupon declined "a per cent. on
the last call.
The total sales of stocks to-day were
$4,000 shares, including Atchison 80 400.
do preferred 1880; Chesapeake and Ohio
IoO0; Chicago Burlington and Quincy
Ito,zUO; Chicago and Northwestern 1900.
ROCK Island 1890; Delaware and Hud-
son 5f'4OO; Lackawanna $500; Erie ls2. 200:
do first preferred a. 1O0 Great Northern
preferred 5,l00; Illinois Central 1920:
Iowa Central $780, Louisville and Nash.
Vtlle 5000; Manhattan 1920; Metronoli-
tan street Railway $500; Missouri Pacific
SOSOO; Missouri, KANSAS and Texas 100.
90 preferred $500; New York Central "a
900; Norfolk and Western $500: Northern
racine lSO,1O0; do preferred 21.70O: On
tario and Western 1890; Pennsylvania
$500; Reading 1900; do first preferred
1880; do second $500; st. Louis
southwestern 10000; do preferred 700: st
Paul $500; Southern Pacific 800; South
ern Railway $500; Texas and Pacific al
200; Union Pacific 121 100; do preferred 10
500; Wabash preferred $500; Analgamat-
ed Copper $780, American Tobacco 81. 400:
Brooklyn 17,lO0; Colorado Fuel ana IRON
300; Continental Tobacco 500; Interna.
tional Paper $500; Peoples Gas 81 6oO.
Sugar $500; Tennessee Coal 5000; Western
Uion, 5000; Republic Iron and Steel soo.
United States Steel $1,000; do preferred b.
100. o.
New York Stock List