The Savannah morning news., 1901-02-21
STOCKS AND BONDS.
The General List Heavy, With the
Closing ut the Decline.

New York, Feb. @--The dread of the
unknown was the depressing factor In the
stock market to-day. Preparations were
evidently being made for the interim of
three consecutive holidays by lightning
three days interval which were canvassed
by the speculative public, were by no
means wholly on the side of depression,
but whatever favorable developments
seemed possible have been so thoroughly
discounted that the balance of chance is
considered clearly on the side OF lower
prices.
Indications seem to point clearly to a
desire for quiet stock market conditions
for the present on the part of the fnan-
cial powers who are most largely concern
ed in the steel negotiations, as they have
also been in tie recent railroad CONSOLE
dations II is not hard TO understand
why, with colossal financial undertakings
In embryo, those concerned i'm them should
desire most of all quiet and stable condi-
lions, both in the money and stock mar
kets. The certainty that powerful sup
port would be accorded to prevent a sud
den and violent decline tends to repress
bear activity. 1t is evident that every eff
fort is making TO preserve the tranquility
Of the money market by keeping avail
able all possible resources and also by
reassuring expressions of opinions as to
the ability of the money market to meet
future requirements. Nevertheless, the
likelihood of another weak bank state
ment betweenthe adjournment of the ex-
change on Thursday and the resumption
OF trading on Monday. and the belief that
advantage Will be taken of the closed
stock market TO publish the plans of the
steel merger, we're two rather ominous
possibilities which served to bring drib-
bling Of stocks on the market all day.
An effort was made during the after
noon to turn the market against the shorts
In the hope of driving them to cover, but
the effort proved futile, and the closing
was weak with many stocks at the low
est. There was q significant break in the
principal steel stocks at the last steel
and Wire. Federal Steel and National
Steel falling suddenly to pa. There was
some show of strength in Steel and Wire
preferred, but otherwise the steel stocks
were all weak, Hoop preferred dropping
3i2.
In the principal active railroad stocks
there We're at one time declines OF / to
points. members of the grangers, South
western and Pacihd groups being notably
affected. Delaware ana Hudson was er-
ratio. but generally weak, falling at one
time 3l4 under last night. The local trac-
ton stocks were bid up in the course of
the attempt against the shorts, and stocks
of number Of smaller railroad compan-
les were lifted from | to points. Pere
Marquette Mobile and Ohio, Iowa Central
and Minneapolis and 81. Louis stocks be-
ing conspicuous General Electric was
forced up at one time II points. but closed
with net gain of only IL. The level Of
activity in the market was lower than
for. many weeks past the days business
failing to about the smallest for any fun
day since election
Bonds were reactionary in sympathy
with stocks. Total sales. par value, So
$4,000 United States refunding 2s adj
vanced Is per cent. on the last call.
The total sales of stocks were 1863, 900
shares, including Atchison, sc, 400; Atchi-
son preferred, $500: Baltimore and Ohio
6,400; Chicago. Burlington and Quincy,
$500; Rock Island $4,000; Denver s. 100;
Erie, 1900; Erie first preferred, $780,
Iowa Central, 1900; Louisville and Nash
Vile, 1890; Manhattan. 10000; Metropolitan
Street Railway. 800; Missouri Pacific, A.
200: Missouri, Kansas and Texas prefer
red, $500; Northern Pacific, g, 600; Pennsyl-
vania, 1890; Reading. 100; Reading first
preferred. SOD; ST. Louis and San Fran
cisco, GOO; st. Paul, 10000; Southern Pa
cific, 5000; Southern Railway. s 800; South
ern Railway preferred. $500; Texas and
Pacific, $500; Union Pacific, 70. 100: Union
Pacific preferred. 500; Wabash preferred
$500; American Smelling, 10000; American
Hoop preferred 1890; American Steel
and Wire rs 100 American Steel and
Wire preferred, 600; American Tin Plate
1900; American Tobacco. 1900; Brooklyn
Rapid Transit '29 500 Continental Tobac-
co, $780, Federal Steel, 1890: Federal
Steel preferred. 10000; Peoples Gas, 5000;
Sugar, q, 800; Tennessee Coal and Iron
II 800.