The Savannah morning news., 1901-06-15
STOCKS AND BONDS.
Union Pacific and ST. Paul the Fen
lures of the Days Trading.

VI ehe OhyS trading.
New York, June 4.-An overwhelming
proportion of the days dealings was in
Union Pacific and St Paul and the scru-
tiny OF the days transactions will reveal
that the strength in the market was
largely confined to the same stocks. Tho
iuliuehce OF that strength on the general
INST was considerable during the early
part of the day, but 1t steadily waned
Ihere were some other isolated upward
movements, but these also had little eff
tect upon the general list.
Dut Whlle prices in general refused To
respond In sympathy with the points Of
strength, they were not conspicuousl, al
iected by the heavy realizing that went
"i an uay under cover of the strength in
tne TWO market leaders In fact dt was
NOT uhtiI Union Pacific itself reIapsed in
the last hour of the TRADING, that the soil
ing made any notable impression on
prices. At that time there were sbarn
breaks all around which carried the aver
age level of prices below iast might and
tle subsequent rallies were insignificant
the market closing heavy under renewed
selling. "
All OF the professional elements in the
market seemed to join in the speculative
movement in st. Paul and Union Pacific
authentic official statements regarding
the many rumors prevalent of closer rela-
IONS between these properties were con-
splcuouspy lacking, but they found cred
ehce as the tape, according to the method
of corroboration accepted by speculators
gave proof of the rumors.
the specific assertion that Union Paciac
mad acquired 10000 shares of ST paul
from long standing insiders was stoutlv
denleo by st. Paul interests, while Union
racine interests refused any conhrma-
ton. Whatever may be the origin Of
the report or the nature of the buvine
or the two stocks 1t Is very clear thai
they were made use Of to cover large
speculative proht-taking in other parts Of
the list.
Inc extreme rise On st. Paul reached
62 and in Union Pacific IA. Colorado Fuel
made another sensational advance of II
points with relapse OF 3i9, and Tennes-
see Coal rose "a, apparently in sympathy
Humors continue that these companies
are to be taken in by the United States
steel Corporation. To-days rumor made
the terms OF exchange with Colorado Fuel
100 shares each of United States Steel
common and preferred for every 100 shares
of Colorado Fuel. The movement in Gu
cose was based on assertions that the alb
~ nj
hand.
The rise in the Readings had no other
explanation than buying for Philadelphia
account and in Now York Central 1t was
said that the execution OF a buying or
der for several Thousands shares, appar-
entity for investment account, found the
supply of stock very scarce The advance
of 22s In Peoples Gas was unexpIalned
The stock fell sharply in the reaction
but saved net gain OF a point Amalga-
fated Copper was feverish, rallying sharp
~ on the refusal OF an injunction against
the purchase Of other companies but go
ing Off again on the further announce
ment of a stay pending an appeal to
higher court. Mexican Central, Mexican
National and Louisville and Nashville
showed comparative frmness, although
they were affected by the late reaction.
The jump in the call loan rate TO Az per
cent late In the day and the unexpecsted
announcement Of an engagement of $500, .
900 In gold for shipment TO Germany.
which. however, II subsequently appeared.
Is not to go out tomorrow. were inlu-
ences in the selling movement and car
ried suggestions OF some such Disagree
able surprise In to-morrow's bank state
ment as that In last Saturday. state
ment. Syndicate operations incident 10
the steel company transactions in Phil
adelphia. the continuance OF payments
on subscriptions TO Pennsylvania new
stock and preparations for next weeks
Standard Old dividend payment may each
or all have made entertainments on bank
ing reserves
The usual preliminary figures Of the
weeks cash changes. furnished by the
banks themselves. indicate an insignia
cant net result The low money rate In
London. the high sterling rate IN Paris
and the stiffening OF the local money rate
combined to cause dlfhculty In finding
an explanation OF the gold shipment at
this time.
The bond market was irregular in SYM
PATTY with stocks. Total sales, par
value, Ss2iooOo. y. s. 3s registered de-
clined z per cent. on the last call
The total sales OF stocks to-day were
!. 1906 40 shares, including Atchiaon q. 200;
DO preferred. 12iO0: Baltimore and Ohio.
500; Rock Island. 700; Denver preferred.
1870. Erie. $500. Louisville and Nash
VIE, $500; Manhattan. 1900: Mexican
Central, 1854 Mexican National 600.
New York Central 1880. Ontario ana
Western, 20,30; Pennsylvania, &c 800.