The Savannah morning news., 1901-06-11
STOCKS AND BONDS.
The Market Irregular with Losses
and Gains Divided.

New York. June 10-There was some
liquidatio in the stock market to-day as
was foreshadowed by the drop in prices
on Saturday after the bank statement
appeared. The bear party which sold
stocks at that time continued their eff
forts to get prices lower to-day and eX-
tend their profits. A number of develop
ments helped them in this purpose, nut
after the pressure of the selling had been
relaxed and supporters of stocks began
to bid up prices again the bears took
alarm and began to cover their short
lines, causing very genral recoveries Of
losses and in few stocks quite notable
net gains.
AS long as trading was going on in the
London stock market the feeling of de-
preston continued. London was quite a
large seller in this market and there was
a feeling of some uneasiness lest the
gloomy tone there foreshadowed some
unfavorable development. This week y
London stock exchange settlement is
somewhat dreaded although assurance IS
given that the shorts in Northern Pacific
are fully prepared to meet the decision
to-day of the Stock Exchange committee
for general purposes in ending the mora
ton granted to the Northern Pacific
stock. The persistent heaviness in con-
soils of the growing ease of money in
London gives rise to some dread of a
secret development in diplomacy or inter-
national government policy.
The heavy demands disclosed by the
bank statement on banking resources
here caused uneasiness, as it was not
known how much further they might pro-
coed. Payments for the $50 900 worth
of new Pennsylvania stock are required
between June l and June 10, so that the
needs on that account might run over a
period to come. The easy rate for money
to-day caused a more cheerful feeling.
however, and encouraged the hope that
the requirements for large corporate
transactions have been mostly satisfied
for the present This was a potent fac
tor In the later rally of the market when
the adjournment of the London stock
market had relaxed the pressure here.
The mystery attaching TO the purchase
and conso.ida ton of some of the indie
pendent steel companies was made much
of by the bears who circulated rumors
that a breach in the steel trade was i'm
minent between the two financial groups
which figured in the Northern Pacific
quarrel The steel stocks lost 19s and 1M.
respectively, for the common and prefer
red during the period of weakness
but rallied to fraction over
Saturday. The bears were also in
clined to discount their superstition that
the government crop report, which was
not due until an hour after the closing
of the stock market, would disclose de-
clded deterioration in the condition OF
cereal crops.
Some sharp gains that had been estab-
lished in the Southwestern group were
wiped out by the pressure to sell. stocks
IN that group declining in sympathy
with the general list. Rock Island fell
as much as Az from the best, St. Paul ga
and Missouri Pacific 92. The leading in
dustrials showed rather acute depression,
Sugar falling nearly 4. Amalgamated
Copper 3& and American Tobacco, Peo-
pies Gas and the New York public utili-
ties from ~ to ga. The late rally left
the net changes significant in only a few
stocks. Missouri Pacific rose very
strongly TO 100 in the late dealings, which
was 21a over Saturday. The Southwest
ern stocks generally, Southern Pacific,
Atchison and Union Pacific made notably
good recoveries, and Pennsylvania was
lifted a point over Saturday. The closing
nevertheless was slightly irregular, the
market yielding again in spots Ameri-
can Linseed rose So and the preferred on
the buying of only a few hundred shares.
The bond market was moderately active
and showed some irregularity, but was
in the main firm. Total sales par value,
$2,42O.Oo0. United States bonds were ali
unchanged on the last call.
The total sales of stocks to-day were
s27.SOO shares, including Atchison 421OO;
Atchison preferred. 1900; Chesapeake
and Ohio, 500; Erie, LOO; Missouri Pa
cifc, 1860; Louisville and Nashville,
H,7O0; Manhattan. 600; New York Central,
800; Ontario and Western, II, 100; Penn
sylvania, 3l,40O; Reading, 1900; Reading
second preferred. 1000: st. Paul 1900;
Southern Pacific. $500; Southern Rail-
way, $4,000; Southern Railway preferred,
5000; Texas and Pacific, $500; Union Pa
cifc, H.400; Wabash, 600; Wabash pre-
ferred, $500; Amalgamated Copper, IS, 400;
American Car and Foundry. $780,: Ameri-
can Tobacco, 1000; Brooklyn Rapid
Transit, 10400; Consolidated Gas. 500;
Continental Tobacco $500; Continental
Tobacco preferred, $500; National Lead,
$500; Peoples Gas. 5000; Sugar, 32,1OO:
United States Steel 91.4OO; United States
Steel preferred, $500.
New York stock and Bond List,
Railroad Stocks.
Atchison ....... S6A Met st. ny. ..17IE
do pref. 80. 1924 Mex. Central =. 261
BALTIC. & Ohio. 1OS Mex. National 1871
Can. Pacific ...1O4A NJ. & st. L.... 81
Can. Sou. ..... SO No. Pacific ....1l95s
Chea e Ohio 70 Mo K g. II u