The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-01-13


late. Speculative sentiment took on the
have so frequently caused wide and ex-
have sofrequently caused wide and ex-
cited fluctuations Ia some stock or group
OF stocks, which were affected by some
important development or a rumor OF
some development.
To-day 1t was the local traction group,
led by Manhattan. The erratic fiuctua-
tons of this stock made II evident that
the violence of the movement waA in
a large part due to the existence of "a
large short interest which manifested
acute distress on the advance, which car
rted the stock up 9lS points, with a sub
sequent relapse of 5 points, The sudden
advance in the local fractions was taken
advantage of for very heavy realizing all
through the list, and when Manhattan it
self gave way the whole market broke
rather sharply with the result that the
closing was weak, and with net losses
pi dominating over gains.
The early market was strong, animated
under the continuing influence of the ad-
vance in the Delaware and Hudson divi-
dend, and the large and concentrated buy
ing in that stock and others of the an
thracite group. Ontario and Western
opened wide with 10000 shares selling at
from So to 35l5. This latter was the top
price.
After the realizing movement invited by
the opening advance, the bulls rallied the
market, and brought forward new points
of strength. The coalers, Union Pacific,
Baltimore and Ohio, the Changers Tin
Plate, and a number of dow priced rail-
road stocks had periods of strength. Min
neapols and St. Louis jumped s. and the
preferred Ga points. In the late realizing
movement the steel stocks developed spc-
cial weakness on the fears of war OF
competition between the great powers
In the trade. National Tube and Steel and
Wire each broke ga. The reaction in
Delaware and Hudson was 5s4 National
Lead preferred lost ga, and American EN-
press sold at decline of l6 points from
the last preceding sale.
The increase of SILL 500 in the cash
deposits of the banks was unexpectedly
large, and the increase of only a little over
100000 in the loans was Unexpectedly
small, to the benefit of the surplus in
both cases. But the bank statement was
| taken advantage of to realize. 1t Is prac-
tlcally assured that next week will see
the beginning of gold exports. and ex-
perts estimate that the movement wiz
reach from $15,00OO00 to $2OOOO,OoO. It was
asserted in Wall street to-day that ar
| engagements had already been made for
the shipment of a considerable amount on
| next Wednesdays steamer.
The demand for bonds has been large.
| out by no means commensurate with
stocks as their level of value has been
more accurately known by reason of the
| fixed interest return.
United States refunding Is advanced "a
per cent. over the call price of a week
ago.
Total sales of stocks were 1,009 200
shares, including Atchison, 1900; do pre-
lerred, 1890; Baltimore and Ohio. 16. 100;
Chesapeake and Ohio, 5000; Chicago Great
western, 5000; Chicago, BURLINGTON and
quincy, 1900; Chicago, Rock Island aud
Pacific, $500; Erie, %, 100; do first pre-
| 1erred, 1890; Louisville and Nashville. &
| oVO; Manhattan 10000; METROPOLITAN 80
| 5OO; Missouri and st. Louis preferred &
SOo; Missouri Pacific, % 800; Missouri. Kan
sas and Texas preferred, 1920; New York
Central, 5000 Norfolk and Western. %
! o0; Northern Pacific q, 400; Ontario ana
western 105,8oo; PENNSYLVANIA. $3.50.
reading, $1,000; do first preferred * 600.
90 second preferred. 94OO; St. Paul. II 400
southern Pacific, 90 400; Southern Ran
way 800; Texas Pacific, 1890; Union Pa
enc $500; Wabash preferred. 400: Raj
tlmore and Ohio preferred, 5000: Nationa,
Iuoe, ozOo; American Smelling, $500; Steel
ana wire, 1900; Tin Plate. $500: Amer
loah IoDaeco $500; Brooklyn Transit 5e
oVV' continental Tobacco. $500: Federol
Steei' o,40O; National Steel, 5000; Peonlo,e
| $500. Union