The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-01-10

ers finding no difficulty in running prices
up by rapid stages several points in any
stock in which they began bidding foa
shares.
The influence of these easy advances
exercised so strong a sustaining influence
on the rest of the market that the in
terests long of stocks had no difficulty
In marketing enormous holdings without
any very notable effect on prices The
bears who sold the market yesterday in
the conviction that the elimination of
the rise had been reached and that the
reported illness of the president might
prove the deciding factor in precipitating
a reaction were forced to cover in some
disorder. The sustained strength in the
market cannot be entirely accounted for
without due allowance for the persistence
of very large short interest at all the
present stages of the rise. The borrowing
demand for stocks is proof of the exist
enee of the short interest. More or less
difficulty is experienced in securing stocks
for delivery on short accounts and Dor
rowers of some stocks are obliged to fore
go interest on their money.
Notwithstanding the repeated back-sets
of the bears, they were still active to-day.
They effected some declines at the Open
ing. aided by the lower range of prices
weakness of few stocks especially the
National Tube stocks on the announced
projects for the building of great compel
ing works by the Carnegie interests. This
caused an opening break of points in
National Tube common, and of ll12 in the
preferred. The Rubber stocks fell pa for
the common and for the preferred, and
there was a drop of Sl4 in Lake Erie anc
Western. Excepting the Rubber stocks
- - ~.
sympathy with the general strength de-
Veloped.
The opening dealings gave the impress
sion that Union Pacific had been selected
as the leader for the day, the demand
absorbing no less than 25,00O shares on
simultaneous sales. But Missouri Pacific
quickly forged to the front after mo-
nentary back-set which carried II y be-
low last night. This was due to the heavy
profit-takng attracted by yesterdays
point rise. The stock was easily the lead
er of the market and was lifted in the
afternoon Sc points more above last
nights level. There were many rumors
current of coming consultations of the
Southwestern Railroad systems. without
any authority cited and which was met
in some cases by semi-official disclaimers,
but Notwithstanding these disclaimers,
the so-caled Gould Southwestern stocks
all advanced from to pa. Manhattan and
Western Union also gained and S3s,
respectively
The various stocks which were success
lively brought forward in the advance
would make long list. The most conspic-
uous were Louisville and Nashville, with
rise of 35s Delaware and Hudson IA,
Illinois Central 412, Great Northern pre-
ferred 81, the local traction stocks from
21a to outside of Third avenue, which
rose an extreme 3D. Sugar and Peoples
Gas, about 215 each; Union Pacific and
New York Central, as much, and num-
Der of less prominent stocks with even
wider gains. The manipulative character
of the advance and the persistent profit
taking was so evident that the bears at
tackled the market again late in the day
and forced declines running up to from Z
to 3 points in several cases, but there
were good rallies on covering by shorts.
The Changers were rather less disposed
to rally than the general list and the
! coalers We're affected by profit-takins
| throughout. The dealings were again on
| Il very large scale, but did not approach
Mondays record.
There was a very active demand for
bonds of Southwestern railroads, and the
| whole list showed strength. The gains
were not in all cases fully maintained. To-
| tel sales par value $4,5 $4,000. United States
refunding Is advanced 1s per cent. on the
| last call.
The total sales of stocks to-day were
| 1,IO1 500 shares, including Atchison 16, 100;
Atchison preferred, 1880; Baltimore and
| Ohio 81 500; Chesapeake and Ohio, S,4O0;
| Burlington, 26 $50; Rock Island, %, 400; Del
aware and Hudson, $4,000; Erie, @,oOO;
| Erie first preferred, 24,9OO; Illinois Central.
! 400; Louisville So 100; Manhattan, $500;
Missouri Pacific, 1880; Missouri, Kansas
end Texas 10, 800; do preferred, 41,90O; New
| York Central, 81, 400; Northern Pacific,
! $4,000; Northern Pacific preferred, 1900;
| Ontario and Western, "a, 400; Pennsylvania
Is, 200; Reading, Is, 400; Reading LIST preferred,
! Il, 200; do second 800; st. Louis South
western, 1880; do preferred, 2,5OO; St
| Paul 40,400; Southern Pacific, 10000;
Southern Railway. 1890; Southern Pacific
preferred, 1880; Texas and Pacific, 1880;
Union Pacific, 1880; Union Pacific pre-
| ferred, 22,000; Wabash, 5000; Wabash pre-
| ferred, 63,eO0; Tube, p, 1OO Shelters, $500;
| Steel and Wire, 200; American Tin
! Plate, 1880; Tobacco, $500; Brooklyn,
69, 400; Continental Tobacco, 2O,100; FEEDER
| a! Steel, $500; Peoples Gas, 10000; SUI
| gar, 81, 200; Tennessee Coal, 1900; United
| States Rubber, 5000; Western Union, &c.
! 300.
New York Stock List.
Atchison =. ..... 45R Wabash =. ..... 10
do pref - 80 do Dref OIL