The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-03-13
STOCKS AND BONDS.
The Market Spotty and Unsettled on
proft-Taking.

FFOht~Aahtnks
New York, March 1.-THE market con-
tinued spotty to-day and largely made
up of the operations of professional trad
ers in individual stocks. Many of these
operations were based on causes peculiar
to the stocks affected and the traders
professed to be following the leadership
of insiders in the stock in their buying.
However this may be, it was evident
that purely speculative operations play
ed large part in the days dealings, as
realizing sales came into evidence in
every case where considerable advance
was made. resulting in sharp declines.
There was more or less realizing going
on all day, the sustaining. influence OF
the strength of special stocks being avail
ed of to take profits in the general list.
The result of this is seen in the net
losses prevailing here and there, some of
them in important stocks.
The principal feature of the news of
the day was the excellent traffic returns
OF the railroads. Especially the South
westerns, the bituminous coal carriers
and some of the Southern roads showed a
'arge increase in their gross earnings
over those of the corresponding week Of
last year. The session of the miners con-
Ventions was perhaps the cause of the
dizziness, and slight heaviness in the an
thracite coal group, although confidence
was expressed that no strike was to be
feared.
The continued low rate for call loans
neutralized the effect of the depletion of
the cash reserves of the banks by rea-
son Of the drain to the sub-treasury and
the growing demands from the interior
The heavy decline in cotton exports helps
to explain the recent firmness of sterling
exchange. A number of the important
movements of the day We're in the stocks
OF minor railroad companies and rumor
was busy with stories of projected con-
solicitations to account for these advances.
The Hartman syndicate figured in these
rumors as the active agent in many of
the alleged consultations. This was true
of the Toledo, st. Louis and Western
stocks, the common rising AZ, the Wis
eonsin Central stocks and the Iowa Cen
tral stocks, the common of which rose 81
and the preferred SO. st. Louis and San
francisco first preferred advanced 2, the
second preferred ~ and the common 4ss
on persistent stories of refunding pro-
Jects or OF absorption into a consolida-
ton of the Gould Southwestern roads
The upward movement in Pennsylvania
was apparently prompted by the annual
meeting and the reports made TO stock
holders. The stocks of express compan-
les, which have been dormant, advanced
Sharply over the last quotation, Ameri-
can Express rising and losing it, United
states Express AZ and adams Express
A}8. The strength in Tobacco was due
to belief in benefits to accrue from re-
duced taxes
The closing was considerably unsettled
by the profit-taking.
The railroad bond market continued ac-
tive and generally firm, but some of the
less active bonds yielded to some extent.
Iotal sales par value $5,595,OOO. United
states declined "a ana the new As ad-
Vahced Is per cent. on the last call.
Total sales of stocks to-day 751 200
shares including Atchison 5000: do pre-
ferred, 4100; Chesapeake and Ohio 900:
Chicago Great Western $500; Chicago
burlington and Quincy IS, 300; Chicago
ROCK Island and Pacific $500: Erie frs,
preferred 7,400; Louisville and Nashville
l,4Oo; Manhattan n, 500; Missouri Pacific
If'2O0; Missouri, Kansas and Texas pre-
ferred 1850; New York Central g. 800
Nortolk and Western 1890; Pennsylvania
4o'Soo; Reading first preferred H. 100; do
second preferred $500; St. Louis and San
francisco lO,7O0; do second preferred 1880.
St Louis Southwestern IL 900: do preferr'
ed 5000; st. Paul 1850; Southern pa
eifc $500; Southern Railway $500: do pre-
LeTred 5,4OO; Texas Pacific 81, 800: Union
racine $500; Wisconsin Central 1900.
Amalgamated Copper 1920; Smelling and
hennlng $500; Steel and Wire 500.
american Tobacco 65, 700; Brooklyn Tran
SIT 1850; Continental Tobacco 10 200.
People's Gas $500; Sugar 1880: TTnitod
states Leather II 100.