The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-06-02
STOCKS AND BONDS.
The Market BuOyant and Firm To-
wards the Closing.


wards the Closing.
New York June 1.-The stock market
made an extraordinary response to-day to
the official announcement of the agree
ment arrived at by the conflicting inter-
ests in Northern Pacific. Speculation
only impeachment had been thereby re-
moved to the return to the level of prices
and the advancing tendency which were
interrupted by the devastating effects Of
the corner in Northern Pacific There
was headong buying of stocks all
through the list on a buoyantly rising
scale.
All things were made fuel for bullish
enthusiasm and any news which seemed
to threaten values was ignored. The mar
ket took on all the charac teristics of the
recent boom" period, and after absorb
ing all offerings to take profits rose Wig
orously again in the final dealings to the
highest of the day, where It closed
There was no exception to the strength
OF the market, but some of those stocks
which have been advanced sharply of late
were kept steady by the offerings to real
ize profits. This was notably true of some
OF the Southwestern and Southern rail-
roads.
The early squirt was most sensational
in Union Pacific, the United States Steel
stocks and Atchison. The first sales of
United States Steel were of 10000 shares.
The rise In Union Pacific extended to $50
during the first hour. There was some
reaction midway of the session, but the
grangers became conspicuous, led by St
Paul with S% point rise. Rock Island
gained 81, Great Northern preferred "A
There sill a OBJ -
dealings in Northern Pacific, not a single
transaction being recorded either for the
common or preferred. Not even a bid
and asked price was recorded for the COM
mon stock at the closing.
The details OF the Northern Pacific
agreement are not announced and rumors
were numerous pointing to wide-reaching
adjustments all through the railroad
world as corrollaries of the Northern Pa
cihc settlement. The whole Northwest
ern railroad system, it was said, would
come into one harmonious control and
representation of the same control would
be found in the Union Pacific system.
The Union Pacific, said the gossips, would
detach the Southern Pacific for the bene-
fit of Pacific outlet for the Gould South
western system and content itself with
the Central Pacific. The operator who
was regarded as the market leader during
the recent boom was very conspicuous
in the days dealings and bought thous-
ands of shares of many different stocks
all around the room. The bulls said that
great financial powers had entrusted large
resources tc the direction of this operator
to inaugurate a new bull movement
The bank statement showed an unex-
pected increase in cash reserves and the
large loan expansion was taken as an in
dication THAI all important liquidation in
the stock market mad been completed and
measures were being taken for renewed
operations in the market. The gains in
the prominent stocks run from ] to 3
points or over. There was an enormous
absorption OF Union Pacific convertible
bonds, as well as of the stock.
The principal activity in the railroad
bond market has been in some of the
speculative issues, which have generally
advanced United States refunding 3s
and the new as advanced " per cent. over
the closing call of last week
The total sales Of stock to-day were
92S, 200 shares, including Atchison, 1880;
Atchison preferred. 1890; Chesapeake and
Ohio, 1370O Erie, $1,000; Erie first pre-
ferred, LOO; Erie second preferred, $500;
Louisville and Nashville, 500; Manhat-
tan, 10000; Metropolitan. S0,l00; Missouri
Pacific, 49, 100; New York Central TO- 400;
Ontario and Western 13,100; Pennsylvania
o. 400; Reading, $780, st. Paul, 6O2Oo;
Southern Pacific. 5000; Southern Railway
80, 800; Union Pacific, II 700; Wabash, 3D. 100
Wabash preferred, 1850; Amalgamated
Copper, II, 600; Smelling and Refining, T.
800; American Tobacco, 1850; Brooklyn
Transit, SO, 100; Continental Tobacco, $500;
Peoples Gas, 1900; Sugar, 1880; United
States Steel, $4,000; United States Steel
preferred, 1890; Western Union. 6,400.
New York stock and Bond List.