The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-01-23

running of again to near last nights level.
The same stocks came into prominence
again late in the day. after the news had
been received of Queen Victoria's death
This event had been so definitely forseen
that there was little reason to expect that
its actual announcement would cause any
marked depression in the market, but APP
parently there was speculative element
who feared the possibility of selling in
duced by the Queens death.
After the event was reported there was
a pause in the activity of the market as
though awaiting its effect on prices, and
shortly afterwards room traders set to
work 10 bid up prices again. They lifted
st. Paul an extreme as over last night
Northern Pacific 2ss, and the grangers,
Paciflcs, trunk lines and more prominent
stocks generally from l to points. The
same traders We're ective in Sugar all
day. making the extreme advance 2is
On the other hand the sensational move
ment in Missouri Pacific was brought to
a sudden stop after a point jump at the
opening and the Wabash stocks also fell
back. The extrems decline In Missouri
Pacific was 7la, and II closed at a net loss
of SiS. This action of the stock naturally
caused some incredibly regarding the
many rumors afioat yesterday of a COM
ing consolidation of the Southwestern
prominent capitalist for control. The other
members of the Southwestern group were.
however, well sustained, and the absorp-
ton of Wabash debenture bonds contin-
ued on an enormous scale and al a price
level above that of yesterday. Missouri
Pacific was in urgent demand In the loan
crowd, and commanded as high as'ls per
cent. premium for use by the shorts. This
gave color to the belief which was avowed
- ~ u. -
of the stock had resulted In a corner,
leaving a very heavy short interest with
their requirements unprovided for. Anal
gamated Copper jumped nearly 3 points
at the opening and then fell back 3%.
The steel stocks were comparatively
neglected, but the undertone was weak,
in spite of the less threatening utterances
authorized by trade magnates. Federal
Steel feel away 2ss and other members of
the group from to ~, after small open
ing advances. The late notable rise was
not we'll maintained, especially in the
stocks which were bid up most aggress-
lively, and the closing was active and
rather easy below the best. The level of
prices at the close was substantially
higher than yesterday and the undertone
OF the market during the day was steady.
The announcement of further gold exports
had little effect on the market, as money
continues easy. Sales were less than a
million for the first time since new years.
The Wabash debenture BIS led the bond
market in point of activity. Texas and
Pacific seconds rose per cent. on light
transactions. Otherwise the market was
rather dull but firm. TOTAL sales, par
value, A032,00 900. United States refunding
rs declined Il per cent and the IS coupon
advanced Il per cent. on the last call.
Total sales of stocks We're 923, 800
shares, including Atchison, 1920; Atchi-
son preferred. 25. 100; Baltimore and
Ohio, $500; Chicago, Burlington and
Quincy, 20,S00; C. r. l. & p, 10, 800; Erie,
2O,sO0; Erie first preferred, q 800; Louis
vile and Nashville, 500; Manhattan. H.
200; Missouri Pacific, 81 500; Missouri, Kan
sas and Texas preferred, 1920; N. & W.,
200; Northern Pacific. 43, 100; Ontario and
Western. 1900; Pennsylvania, II, 500; Read
ing, 1880; Reading first preferred, 1900;
st. Paul, S9,l00; Southern Pacific, 50, 200;
Southern Railway, $500; Texas and Pa
chic, 1880; Union Pacific, SO 200; Wabash
lOSOO; Wabash preferred, 1880; Amalga-
mated Copper, 500; Steel and Wire 6, 100;
American Tobacco, 5000; Brooklyn Tran
sit, 52,4OO; Federal Steel 2l3OO; Peoples
Gas, $500; Sugar, 90, 500.