The Savannah morning news., 1901-10-25
STOCKS AND BONDS.
Operations in the Days Market Free
quentIy shifted.

New York, Oct. 24.-To- days stock
market showed what is frequent in the
progress of professional operations in
the market for an advance, namely the
shifting of long accounts from one
group of stocks into another by realiz-
ing where an advance in price has al
ready occurred and buying into group
that has been quiescent.
The group selected for the advance
to-day was the coalers. The plausible
reasons for the advance in the prices
of these stocks were the fact that the
present years output promises to be
the largest on record, while prices are
firmly maintained at a profitable level
both for the mining of the coal and
its transportation to market. The pol
icy adopted of beginning to advance
the price of coal several months ago
brought it to the maximum intended
on Sept. /. This has had the result of
keeping up the demand all through the
summer months, instead of throwing
the requirements for the whole winter
on the period of cold weather, but
confidence is expressed that the BUSH
ness will continue large through the
winter, and much was made to-day of
the reports that only lack of sufficient
cars placed limit upon the anthra-
cite and soft coal movement While
the effort was rather obvious to con-
centrate speculative attention upon
these stocks and the causes which
moved them, there was enormous real
izing proceeding in St. Paul, Union
Pacific, Southern Pacific and the Van
derbilts, which have been advanced by
the recent manipulation. Rather less
was heard of the Northern Pacific set
tlement and the working out of eX-
tensive additional plans in the trans
continental railroad field.
The forcing to cover of a large out
standing short interest is an evident
factor and probably a motive for the
operations for the advance. The fail
ure of a small brokerage house, not a
member of the Stock Exchange, which
was caught short Of some of the stocks
recently advanced, was an indication
of the distress of that element. The
heavy prOfit-taking in the Pacifics and
St. Paul was emphasized by the weak
ness of Peoples Gas on threats of con-
tinued hostile lawsuits. The stock fell
an extreme points, closing at about
the lowest.
There was rather more urgent SELL
ing of the United States Steel stocks
than for some time past, but the de-
cline was restricted to a fraction and
was partly recovered. Conditions in
the money market We're without not
able change.
The railroad bond market was quite
| active, but realizing in the convertible
bonds made it irregular. Total sales
par value. s3.525 900. United States
bonds were all unchanged on the last
call.
The total sales of stocks to-day were
S23,S00 shares. including Atchison. 81
500; Chicago and Great Western, "a, 800;
Baltimore and Ohio. 10000; Chicago
and Great Western ''B" preferred, s.
100; Colorado Southern, 5000 Delaware
and Hudson. 10,500; Delaware Lacka-
wanna and Western. 100; Erie. so, 500;
Louisville and Nashville IL, 100; Mis-
souri, Pacific 10000: New York Central,
1880; Ontario and Western, 23,100;
Pennsylvania, 1920; Reading, 50. 100;
Reading first preferred, IL. 400; Reading
second preferred 500; ST. Paul, 40. 200
Southern Pacific, 46.100: Southern Rail-
way, 7200 Union Pacific. 10S 6O0
Amalgamated Copper. $4,000; Brooklyn
Transit, 1880; Peoples Gas, 27,000
United States Steel. 90, 400; United
States Steel preferred, 25,100.
New York SfocIs and Rand Ifsf