The Savannah morning news., 1901-03-17
STOCKS AND BONDS.
Market Closes at Advance with the
Undertone Strong.


New York, March 16.-The remarkable
demonstration made by the Burlington
stock in to-day's stock market had a de-
cisive effect In lifting prices generally to
a higher level The persistent and grow
ing strength Of Burlington overcame the
manifest at some points in the first hour
of trading. But the taking of speculative
profits. which was apparently the cause
of this heaviness, continued all through
the late squirt in Burlington. 1t was off,
set to a sufficient extent by the new buy
ing, which came in through commission
houses to lift prices in the majority Of
cases through the realizing offerings.
There were exceptions on the side OF
weakness. st. Louis and San Francisco
dropped shortly points under yesterday
in the midst of the buoyancy of the mar
ket The coalers made no notable re-
Spouse to the rise, seemingly on account
of the possibility still remaining of a
clash with the miners. st, Paul was a
notable laggard in the granger group,
and never got as much as point over
last night. London seemed to take a
serious view OF the clash between the
Russians and the British at Tien Tsin.
Speculative opera lions obviously had
much to do with the movement in Bur-
lington. The squirt to 1914 which made
the extreme rise 81, brought such heavy
realizing that the stock dropped back
nearly points. Talk of an increase in
the dividend rate to per cent and of
a contest for control was the only news
to explain the movement. Manhattan W s
very active and strong on talk of con-
troll in the interest of the New York Gem
trail, the extreme rise reaching points.
All the other New York public utilities
were strong. The dealings in Illinois
Central were very large at an extreme
gain of az points. Recent buying of
stocks of a number of smaller roads is
believed to be In the interest of this road,
and the buyers consider the price low,
compared with other s per cent. stocks.
The movement in Minneapolis and St.
Louis was connected. The Chicago and
Eastern Illinois stocks rose for the COM
mon and AZ for the preferred Pacific
Coast gained 93s, New York, Chicago an !
81. Louis first preferred points; Ameri-
can Tobacco 2, and the newly-listed Amer
lean Snuff preferred 216.
The steel stocks turned strong at the
last and Amalgamated Copper rallied
strongly from early weakness. The clos
ing was confused, but the undertone wa
strong. Dealing In low grade ponds were
on an enormous scale. Fort Worth and
Denver City firsts rose points. The
loan contraction and the subsequent
small shrinkage in surplus reserves caus-
ed the bank statement to be favorably In
| terpreted.
There has been a very active demand
for railroad bonds during the week
Southwestern railroad Issues and low
grade speculative mortgages have been
most largely dealt in. United States new
As advanced * and the refunding 2s % per
cent. over the closing call Of week ago.
Total sales of stocks to-day were 10000
shares, including Atchison, 300; Atchison
| preferred, $500; Chicago, Burlington and
| Quincy, III 100; Chicago and East Illinois,
| $500; Chicago, Rock Island and Pacific,
| 1850; Erie, 1920; Erie first preferred. IL,
600; Illinois Central, 700; Louisville and
| Nashville. $780, Manhattan, 673O0; Metro
| poltan 6,4O0; New York Central, 7700i
| Northern Pacific, $500; Pennsylvania. g.
| 500; Reading first preferred, 6,600 st. Paul,
1880; Southern Railway, 1880; Southern
Railway preferred, $500; Texas and Pa
ciic, $500; Union Pacific, 21.1OO; Wabash
| preferred 1900; Amalgamated Copper g.
| 500; American Tobacco, 2s,100; Brooklyn
| Transit, 1880; Peoples Gas, 500; Sugar,
] 10