The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-07-26
STOCKS AND BONDS.
The Closing strong and Active With
Many stocks mt the Top.


Many stocks mt the Top.
New York, July 25.-The upward re-
action in stocks this morning marked
another phase in the speculation. Such
intermittent movements from day to
day are familiar. incident of force and
no new ones of importance are in sight
to take their places. 1t does not neces-
sariIy follow that there are not large
speculative commitments still existing
in the market.
Some further light is evidently want
ed on the actual results to the crops of
the period of drought in the West
which has formed, together with the
steel strike, the basis of the recent
speculation for the fall. Declining ac-
tivity and lessening fluctuations are
the natural accomplishments OF such
waiting period. 1t Is to be assumed
that considerable short interest exists
in the market as a consequence of the
recent downward course of prices ana
consequently the absence of any new
unfavorable developments, by beget
ting an uneasy frame of mind in the
shorts keeps the undertone of the mar
ket firm. There is the additional con-
sideration that stocks in the general
list, which are not directly concerned
at all in the vicissitudes of the crops.
have suffered from depression by SYM
pathy with those that are. There were
evidences to-day that the level of
prices of some of these proved attrac-
tive at the low level.
The professional traders, anxious to
develop a new speculative movement,
joined in the buying and helped TO
advance prices The bituminous coal
nd
some of the roads in the Southern re-
gion were prominent in the leadership
of this movement and helped to hold
dull market firm through the middle
portion of the session. The announce
ment OF the engagement at the assay
office of $500 900 in gold sent prices
downward again, but not to the lowest.
The gold is supposedly for export, al
though the destination is not announc-
ed. The fact that gold should go out
with the exchange market yielding to
the supply created by large foreign
buying of grain to-day aroused renew
ed attention to the fact that some
special demand for gold exists abroad
which can draw II from New York
with exchange below the normal gold
export point.
The market became so nearly stag
nant at the decline that the courage
of the bulls was revived and they
marked up prices again. The sudden
advance of about two points each in
the United States Steel stocks and an
earlier advance Of as much in Anal
gamated Copper helped to make the
closing strong and quite active. with
many stocks back at the top level of
the day. There was considerable ma
nipulation evident on the advance. the
principal part Of which was restricted
to a small circle.
Railroad bonds were more active
than yesterday and there was a very
large demand for the bonds exchange
able for Burlington stock. and some
buying also OF Baltimore and Ohio con-
vertible bonds.
The market generally was somewhat
irregular. Total sales, par value, ST.
$40, 900. United States bonds were all
unchanged on the last call.
Total sales of stocks to-day were
1853 900 shares, including Atchison. a.
800: do preferred, 10000: Erie, 1880:
Missouri Pacific. $500; Ontario and
Western. 100; st. Paul, 20. 400: South
ern Pacific, $1,000: Southern Railway.
IL 800. Union Pacific. 1900: Wabash
preferred. 9.l00. Amalgamated Copper,
$500: Brooklyn Transit. $500; Con-
solidated Gas. $500; United States
Leather. $500; United States Steel.
$1,000; United states Steel preferred.
$1,000
New York stock aud Bond List.