The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-03-24
STOCKS AND BONDS.
Market Moves regularly with
us DA Strength at Close.

market Moves Irreguiarly with
t% OA Strength at Close.
New York, March 2S-To-day's bank
statement AFFORDS convincing evidence that
the capitalists. Who have engaged in the
recent great syndicate operations had
made provision for them some time since.
ana While the resources OF the money
market were stilf superintendent. Assur-
snce is warranted that their plans are
carefully adjusted so that the syndicate
operations in themselves win have bus
slight effect on the money market.
That there should have been achieved
loan contraction by the banks of upwards
OF $4,000, 600 in q week, in which payment
was made of over $4,000, 0O0 on account
of the Union Pacific bond subscriptions,
and call made for payment of twenty
five millions on Monday on account of the
steel: syndicate subscriptions, and in
which a furious speculation was carried on
in the stock market, is an impressive
demonstration of the new scope or the
resources of the New York money mar
ket.
The effect on the stock market was ma
terialiy marked. From a hesitating and
irregular condition, due TO heavy profit
taking under cover of the feverish ad-
into an animated and buoyant condition,
earlier losses being gradually wiped out
and many striking gains in prices estab
lished. The early strength was confined
to a compare lively small number OF
stocks, and was due to belief in the prog
ress of plans for a great consolidation of
the Southwestern railroads. The Denver
and Rio Grande stocks led to the advance
with extreme gains of 5 points for the
of1fff ba
Rio Grande Western stocks usually in the
background. sold 10 points higher for the
common and 3 higher for the preferred
than the last sales. The Wabash stocks,
Missouri Pacific, the st. Louis South
Westerns Texas land Pacific, st. Louis
and San Francisco and the Colorado
Southern stocks, all responded with gains
of 1 to 21e over yesterday.
A number of recently conspicuous minor
railroad stocks advanced feverishly, In
Guiding the New York, Chicago and St.
Louis stocks, the Chicago, Indianapolis
and Louisville stocks and Lake Erie and
Western. The strength of these stocks
did net prevent declines running to a
point or more in many active stocks on
realizing, profit-taking going on very ac-
lively Under dover of their strength. The
smelling stocks were ratded down ga and
3A, the common and preferred, but rose
SlIOHSiy AGAIN over idSk ilB III . tSNtl. Inc
steek stockss.were rather heavy. 1t was
not until the bank statement that the
undertone of depression was overcome.
There was some renewal of realizing here,
ana there, bit the closing was animated,
and the undertone strong with prices
near the best. 81
Business in railroad bonds has continued
large, the speculative issues being the
favorites, But bond dealers report some
disposition on the part of customers, to
sell high grade bonds and reinvest in rail-
road stocks With, good dividend prospects.
United States IS advanced r. new As and
old Is coupon a, and refunding Is regis
tered rs. !, The refunding 2s coupon de-
elined y over the Closing call of week
ago. ri as,v.-
Total sales, stocks were 599,SOO shares,
including Atchison. $500; do preferred.
500; Burlington, 1860; Chicago, Indian
apolis and Louisville, $500; Colorado
Southern, 500; Denver and Rio Grande,
%, 1907, do preferred, 1880; Erie, 26,70O; do
first preferred $500; Louisville and Nash
vile. $500; Manhattan, 1890; Metropoll-
tan, 500; Missouri Pacific. 500; New
York Central $500; Northern Pacific, S.
900; Pennsylvania 1850; Reading second
preferred, II 900; St. Louis and San Fran
cisco, 1900; st, Paul, 10000; Southern Rail-
way, 1890; Texas Pacific. 1920; Union
Pacific, 19,7OO;a Wabash, 1O,4OO; do pre-
ferred, 52,100; Amalgamated Copper, 800;
Brooklyn Transit, 1890; North American,
$500; Sugar, 1850.