The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-08-29
STOCKS AND BONDS.
sales Light and the Closing Dull and
Heavy.

New York, Aug. 2S.-The stock mar
ket relapsed into triyialities again to-
day. The volume of transactions fell
mixture of net changes at the close is
wholly without significance except as
a reflection of the indecision dwelling
in the speculative minds. No attention
was paid to any news of the day, and,
in fact, there were no occurrences hav-
ing any important bearing on the val
ues of securities.
Bear traders made a feeble tentative
raid shortly after the opening, but the
offerings of stocks proved so small
that they became intimidated and
bought back again, covering short lines
which were left over from yesterday.
The success of yesterdays raid seems
to have been due to an encounter with
some particularly weak speculative
lines which represented little more than
a froth easily blown off the surface of
speculation. Toe day showed stocks
tenaciously held again, notwithstand-
ing the extreme listlessness of the de-
mand. Signs of renewed weakness in
the corn market after the opening
transactions induced some covering of
shorts in stocks from Western sources,
but these were not put out again when
corn rallied later. The approach of a
three day hiatus I'M the stock market
with the possibilities Of favorable or
unfavorable developments in the inter-
val, was enough to dissuade either the
bulls or the bears from committing
themselves for that length of time, and
to this influence may be added the rec
ognized possibility of the marking up
of call loans on Friday. The reopen
ing of the dispute between France and
Turkey had some influence upon for
eign markets to-day, which was en-
phasized by discouraging views caused
by the prolongation of the Boer war.
On the other hand, a settlement of the
steel strike is believed in Wall street
to be possible at any time.
Notwithstanding the depression gen.
orally in foreign markets there was
active demand from the arbitrage
houses for stock market settlement,
which is to be concluded tomorrow.
Besides this, there were renewed Of
ferings on a large scale of exchange
bills against grain exports. The effect
was to cause weakness in sterling ex-
change. New York banks deposited
100000 at the sub-treasury to-day to
be transferred to Chicago to meet cur
rent requirements IneTe, dItnOuBn the
simultaneous rise to within five cents
of par of New York discount in Chi
cago suggests that buying of stocks
for Western account may have caused
this demand for New York exchange.
The fear is felt that yesterdays pay
ment of over $4,O000 900 at Philadelphia
on account of the Bethlehem steel pur-
chase may have affected New York
bank reserves. The market closed dull
and heavy.
There was less business in railroad
bonds than yesterday, but prices were
about steady. Total sales. par value,
81 100000 United States bonds were
all unchanged on the last call.
Total sales of stocks to-day were 463,-
700 shares, including Atchison. 80. 700;
Atchison preferred 300; Erie, 1900:
Louisville and Nashville, 1850: Penn
sylvania. $500; Reading, $500; South
ern Pacific, 49.S00; Southern Railway,
1880: Texas Pacific. 1900: Union Pa
cifc, IS. 400; Wabash, 9100; Wabash
preferred, $500; Amalgamated Copper,
1900; American Smelling and Refin-
ing. 1900; Republic Steel 1880: Re-
public Steel preferred. $780, United
States Steel. 10000; United States Steel
preferred, 1880.
New York stock and Bond List.