The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-04-18
STOCKS AND BONDS.
The Closing Irregular Under Heavy
Proiit Taking.

spectators have come to be in who are
long of stock. as well as the watchful
mood for weak points TO develop of those
v no are short. The battle between the
two elements waged all day with varying
success, and the market closed with the
issue apparently undecided. although
review of the net changes for the day
will show that the bears had the best of
the contest, taking the day through.
The bulls contested the onslaught of
their opponents with vigor and deternin-
alton, and had fairly secured the upper
hand of them after the opening drive
against the market. Even after the last
dip in prices, which carried quotations to
the lowest of the day, the bulls were still
in fun array, vigorously supporting
prices here ana there and boldly manipu-
lating advances in number of stocks.
The only point of positive strength in
the list was in the Southwestern Rail-
road division. An effort was made to re-
Vive speculative excitement by bringing
up the ru1iors of Southwestern merger
During the period Of the first retreat OF
the bears the movement in this depart
ment proved an effective leadership in the
market led by Kansas and Texas pre-
ferred. New York Central and some of
the other trunk lines also showed signs
of strength and Sugar, Peoples Gas and
the smelling stocks made effective aux
/ iliaries in the demonstration by the bulls
Very little was left, however, of these
advances after the final reaction, but the
AtchisonS were moved vigorously up
wards, the common rising ga over last
night in the final effort of the bulls to
turn the market. Prices rallied while the
room shorts Were uncovered but went OFF
again on renewed selling, making the
close unsettled and irregular with some
stocks at the lowest. There was a dis
position to take speculative profits re-
CARELESS of news developmnts 1t was
especially manifest in the stocks which
had been influenced most by the Burling-
ton deal runlors aand in Amalgama ted
Copper. There was almost complete re-
covery from these opening losses, appar-
emily on the suppositlon that the Bur-
lington directors after their meeting
would announce the completion of the
deal. Their failure TO do so was the
principal element in the sharp break.
The bull leaders are manifestly per-
picked over what is to take the place of
the Burlington deal as an effective in
fuence in fomenting speculation when
the matter is finally disposed Of To-
Gays development does net seem to cause
doubt OF the practical consummatio of
the plan. and, in fact, heavy profit-tak-
ing was to be looked for even had the
matter been announced. 1t is too much
TO say that the Burlington episode has
lost its influence to attract speculative
buying so long as official announcement
of the matter is withheld, giving room for
rumor and surmlse over the plan
The threatened strike of iron and steel
workers was continued influence to-
wards depression, and United States Steel
re MAR hoo all
ton under yesterday throughout. The
weather bureaus weekly crop report
showing retarded developments by rea-
son OF cool weather may have had som
influence. But the movement of the mar
ket was principally due to technical
causes. The more favorable money condi-
tions were ignored. The gain by the
banks from the sub-treasury which has
already reached 100000 this week and
the arrested outflow of cash to the In
terror give pretty good assurance of a
favorable bank statement on Saturday.
The sterling exchange market was ratn-
er soft, Notwithstanding the increased
supply here of loanable funds, so thar
the outflow OF gold is pretty certainly
deferred beyond this week The range OF
prices during the day was extremely wide.
reaching from to points In nearly ali
OF the most active stocks.
lno DoHd market continued active. but
the price movement was irregular. Total
sales par value s5.3O5,OO0 United States
old As registered declined 4 and coupon
Is per cent. on the last call
The TOTAL sales OF stocks to-day were l.
G4l,2O0. including Atehison 1880; do pre-
ferred 2o,5Oo; Baltimore and Ohio 800:
Chicago, Burlington and Quincy CT 400;
Rock Island 21,i00. Big Four 600; Colo
RADIO Southern $1,000; do second preferred
800; Delaware and Hudson 800; Erie
l33,400; Great Northern preferred e6o0.
Louisville and Nashville $500; Manhattan
$500; Metropolitan Street Railway u 900:
Mexican Central 5000; Missouri Pacific &C.
l00 Missouri, Kansas and Texas 1900: do
preferred $500; New York Central q. 900:
Norfolk and Western $500; Northern Pa
cttic $500; do preferred 1860; Ontario ana
Western 800; Pennsylvania a, 800: Read.
ing 800; do first preferred l3,So do sec
ond 1850; ST. Louis and San Francisco
1000; do second preferred 6le0; ST. L.
Southwestern 800; st. Paul 3O,SOO: South.
ern Pacific $500; Southern Railway i. i.
600; do preferred el00 Texas Pacific 2s
300; Union Pacific 9z4OO; do preferred $500
Wabash 20,4O0; Wisconsin Central s.4O0.
Amalgamsted Copper $500: American
Smelling 80 100; do preferred e700: Amer
lean Tobacco q, 600; do preferred ~ zoo.
Anaconda 1920; Brooklyn 400; Colorado
Fuel 5000; Peoples Gas 1850; sugar a.
GOO; Western Union 10 100: United states
Steel 81 100; do preferred 2s,5Oo.