The Savannah morning news., 1901-10-15
STOCKS AND BONDS.
The CLOSING Unsteady but at Top
Prices for Some Stocks.

New York, Oct 14.--Efforts by large
speculative interests to sustain and
advance the stock market continued in
evidence to-day. They succeeded in
overcoming the early weakness. but
as the level of price rose over that of
Saturday, their following decreased
and the advance lost it's force. 1t was
not aggressive at any time and was re-
stricted to few stocks. notably ST.
Paul and the Paciflcs.
The elimination of large portion of
the short interest as a result of the
advance last week deprived the mar
ket of an important element OF
strength. 1t was evident that a sus-
tanned advance at this time would have
to depend on the efforts of the larger
financial powers. These elements were
supposed last week to have embarked
on a campaign for the advance, owing
to inside information of plans to settle
the Northern Pacific tangle, but ap-
parently last weeks reports on that
subject were either not we'll founded
or premature. The suspicion has gain
ed force that the circulation of those
reports was a manipulative measure
against the shorts, or was designed to
test the possible effect upon specula-
ton of the actual announcement of
some such measure. The perception
emerges that measures to finance the
Northern Pacific settlement are the
great object to be ATTAINED at present
rather than large Interior projects Of
additional consultations.
The prevalent rumor of an assign
ment by the financial powers of the
control of the st. Paul to Union Pa
cific as compensation for a relinquish-
ment Of the control of the Northern
Pacific to the Morgan-Hill interests
does not find great credence. Such a
settlement would not provide for the
naturalization of the Burlington sys-
tenn as competitor of Union Pacific,
which was the vital contention of
Union Pacific throughout the quarrel.
Nevertheless, St. Paul showed itself
the most sensitive stock in the market
to-day. falling early in the day IL be-
low Saturday and rising later TO "a
above. The rest of the market follow
ed the movement in st. Paul, though
over lesser range throughout.
In spite of favorable interpretations
of Saturdays bank statement there is
some uneasiness persisting of the safe
ty of the money market for the rest of
the season. The whole tone of for
eign markets continues much depress-
ed. At the same time, it is to he noted
that the rise in sterling exchange here
has been checked. To-day's action by
the Bank of England in advancing the
price of American eagles even indicates
some apprehension of a future demand
for gold from New York Should the
demand for sterling exchange for the
purpose of repayment of foreign bor-
rowings come to an end and the belat-
ed movement of cotton quickly grow
there can be little doubt that exchange
would fall to the gold import point al
most at once. The notable decline in
the movement of grain over the rail-
roads exercised some depressing in
fluence on the market. The closing
was unsteady. but at top prices for a
number of stocks.
There was a decrease in the demand
for railroad bonds, and the movement
of prices was irregular. Total sales
par value. 81, 000 900. United States
bonds were all unchanged on the last
call
The total sales of stocks to-day were
900 shares, including Atchison, 81
300: Erie, 1920: Metropolitan Street
Railway, 1900; Mexican National, H.
900: Missouri Pacific, %, 400: Norfolk
and Western, 1900; Pennsylvania, 1000;
Reading second preferred, $500; St.
Paul, 93.400: Southern Pacific, rs, 700; :
Southern Railway. $500; Union Pacific
45,500 Wabash preferred, 800; Anal
gamated Copper, $1,000; American
Smelling, 1900; Brooklyn. $4,000; Sugar.
1890; United States Steel, 20S00;
United States Steel preferred, 1900.
New York stock and bond List.