The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-05-03
STOCKS AND BONDS.
The Market Closes Firm With Atch.
insons Leading.


The Market Closes Firm With Atch-
insons Leading.
New York, May 2.-The Atchison stocks
took the leadership of the market to-day
away from the Union Pacific, both in
point of strength and activity. During
the most of the day the volume of trans
close race, but the dealings in Atchison
common and preferred easily outstripped
those in the two Pacific stocks. A heavy
preponderance of the total transactions
in the whole market cenIered in these
stocks.
There have been very confident pre-
dictions that the first dividend on Atch-
ison for half year would be per cent.
and 1t is sikely that a large short interest
was accumulated in the stock by those
who had better information, in the ex-
pectation that yesterdays ~ per cent
dividend would bring out heavy offerings
AS a matter of fact the offerings were
very moderate. The character of to-
days buying, however, could by no means
be safely attributed either to a demand
for shorts, or to purely speculative ma
nipulation. The movement was supposed
to be due to a new phase of the struggle
among the granger trunk lines TO secure
for themselves compensatory advantages
to offset the Burlington deal
Officials of the ST. Paul railroad were
quoted anonymously THIS morning as
breathing forth threatenings Of building a
new line to the Pacific unless they were
accorded share in the advantages of the
supposed Union Pacific absorption. This
no Ia hat
the great granger trunk lines feel them
selves at tactical disadvantage IL they
have not an assured Pacific coast outlet
as well as the Eastern trunk line connec-
ton and that ali of them viii sooner or
later take advantage of these measures
The movement of prices to-day was cited
as giving evidence that the buying Of
Atchison was for the benefit of st. Paul
and probably also of Rock Island.
There was a disposition to attribute the
late strength of Baltimore and Ohio to
plans for making THAI road the eastern
outlet and the late squirt in Norfolk and
Western and Chesapeake and Ohio were
supposed to indicate alternative possihii-
lies. The declaration Of the first dividend
on Norfolk and Western of per cent. was
how ever, the more plausible explanation
of the strength of the last named stock
The feverlsh and cratic fluctuations in
Union Pacific were amply explained by
the new uncertainties surrounding the
preEent ownership ofiits control There
were various rumors both to the effect
that the Vanderbilt interests had perfect
ed their control and that the Hartman
interests had secured the advantage OF
their control. Every movement in the
stock and every rumor regarding the con-
troll were locked upon with suspicion by
the uneasy spectators. The extreme
range of the stock was points and the
net loss 12s. Atchison advanced an ex-
treme 115s and closed within a fraction
of the best. st. Paul IS ~ higher on the
day; Chesapeake and Ohio 31s and Norfolk
and Western IL. The stocks included in
the Burlington deal, the Erie stocks not
included, were all notably heavy. The
heavy proit-taking and weakness of the
United States Steel stocks had large
sentimental influence on the whole mar
ket New York Central was quite severe
iy handled and lost 3B. Except for The
few special points of strength the market
was, on the whole. reactionary.
The money rate was frmer to-day. rUl-
ing at 6 per cent. enriy In the day ana
il was said that number of the banks
were calling loans.
The cloee was easy and almost weak
except for the final squirt in Atchison.
Union Pacific convertible bonds contin-
ued very active and the bond market
otherwise was irregular. Total sales par
value. I,le5000. United States refunding
Is, coupon, declined q and the IS u per
cent. on The last coll.
Total sa.es of stocks to-day were 2s93,-
200 shares including Atchison. $50 log
Atchison preferred l25.4O0; Baltimore ana
Ohio, 1850; Chesapeake and Ohio, Isl, 800;
Chicago, Burlington and Quincy, i52D;
Chicago. Rock Island and Pacific. 29600;
Erie, 80, 100: Illinois Central. 1890: Louis
Vile and Nashville. 1850: Mexican Cen.
trail, 1880; Missouri Pacific, 17,i0O New
York Central. $3.50; Norfolk and Western.
5000; Northern Pacific. 50. 800; Ontario and
Western, Sc, 400; Pennsylvania, $500;
Reading, 22,70O; Reading first preferred,
1880; Reading second preferred, 12.4O0; ST.
Paul. 1850: Southern Pacific. 5000;
Southern Railway. 1900; Southern Rail
wny preferred, 14,10O; Texas Pacific. 1900;
Union Pacific. 1910; Union Pacific pre-
ferred. q 1900; Wabash, e4o0; We bash pre-
ferred, 1900: Amalgamated Copper, II $50;
American Tobacco $500; Brooklyn Tran
sit. 1850; Continental Tobacco, 1890;
Peoples Gas, $500; Sugar, i5lO0; United
STATES Leather 1860; United States Steel.
1876 500: United States Steel preferred. d.
800; Western Union, $3.50; Consolidated
Gas. 10000; Baltimore and Ohio preferred,
100; Hooking Valley preferred, 600
New York Stock List