The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-01-24

saved the list from larger showing of
net losses than is actually the case. Buy
ing by room, shorts to cover was largely
responsible for the final rally.
The concentrated nature OF the buying
and the identity of the brokers by whom
it wa done. especially in the stocks
which were picked out for the greatest
show of strength. were warrant for the
conviction that the speculative leadership
was in the hands of the coterle which
made demonstrative change from the
bear to the bull side of the market during
the course of Mondays trading. The
selling during the last hour was also of
a very concentrated character, but was
by different brokers from those who exc
cuted the early buying orders.
The deduction that large speculative
proft-taking was being made is not
strained one. The consistent weakness
of Missouri Pacific. which fell at one
time Sis points below yesterdays high
level left little room for credence in the
rumors OF a big Southwestern railroad
consolidation and gave color to the re-
port that a large short interest in the
stock had settled by private agreement.
There was distinct shifting of specu-
lative interest from the railroads to the
industrials, and 1t was the evidences of
realizing in the railroad list under cover
of the new strength in the industrials
that caused the break in the market. such
early gains as 27s In ST. Paul 2S4 IN
Brooklyn Transit. ga ia Baltimore & Ohio,
2ss In Peoples Gas, and others nearly as
substantial were completely wiped out In
in the late reaction. The decline from
the highest reached sSs in St Paul Sss In
Brooklyn Transit. Pc in Delaware and
Hudson, pa in Baltimore & Ohio and
Manhattan, and from / TO > points in
large number OF active stocks.
The steel sticks reacted from the best
in sympathy, but hardened again in the
late dealings, the leaders rising to the
best at the close on heavy absorption.
Federal Steers gain was 3B. Pressed
Steel Car rose an extreme 6A, while the
annual meeting was In session, and the
preferred SIS. All the most important
members IN the group gained from to 3
points There was no news to account
for the rise. but the fact that the disturb
ances which threaten the steel trade
might be settled by the few individuals
who control the resources in that trade
at present naturally makes them avail
able for speculative manipulation. The
volume of the gold exports for to-mor-
rows steamer, which rose to $3.50 OO0
had a rather chilling effect on the late
speculation, in spite of the continued large
flow of money to this centre. Money
continued very easy.
With the exception of the reaction in
Wabash bonds the market for railroad
bonds was generally firm. Total sales
par value, $4.SO0,O0O. U. s. IS advanced 4
per cent. on the last call
To-day's total stock sales were 1885,
900 shares, including Atchison, $500; 20.
pfd., 14,6O0; Baltimore & Ohio, $500; Ches-
apeake & Ohio. $500; Chicago, Burlington
& Quincy, Is, 400; Chicago, Rock Island &
Pacific, 1890; Erie. $500; do. first pfd.,
q. 300; Louisville & Nashville. 1890; Man
haitian, 81, 500; Metropolitan. $500; Missouri
Pacific, 1850; Missouri. Kansas & Texas,
pfd., %. 200; Northern Pacific 6S.-
500; Ontario G. Western. 81, 300; Pennsyl-
vania, $500; Reading 34lOO; do. first pfd.,
q 100; do. second pfd., 4. 100; st. Louis &
San Francisco. $500 ST. Paul SLIGO;
Southern Pacific 74.100; Southern Railway
II 800; do. pfd. 1880; Texas & Pacific,
$500; Union Pacific, $500; Wabash 500;
do. pfd., 14.1OO; American Smelling and
Refining, 5000 American Steel & Wire
1880; American Tin Plate. $500: Amer
lean Tobacco, 1900; Brooklyn Rapid
Transit, IS. 400: Colorado Fuel and Iron
5000; Continental Tobacco, IL 500; Federal
Steel. 1900; Peoples Gas. 1850: Pressed
Steel Car, $500; Sugar, 32,7OO; Tennessee
Coal and Iron, 900; L. S. Leather, $780,
United States Rubber. $500.