The Savannah morning news., 1901-04-10
STOCKS AND BONDS.
Market BuOyant and Yesterdays
Drop Plainly "ShaI<ing Out"


New York. April 9,-An astonishing mu-
tation of speculative sentiment was de-
monstrated by the action of the stock
market to-day. There was not a sign of
the distress ana acute anxiety under
which the market labored all day yester-
cay 1t is the almost invarable rule that
such a violent break in prices as that of
yesterday brings in over night an accum-
ulation of selling orders from alarmed
holders of stock who walt for daily re-
PORTS for their information on the stock
market, but the opening this morning
was quiet and unrufiled with no import
ant pressure TO sell and with many not
able advances induced by the demand of
the shorts to cover.
Before the day was over the bull lead
ers had recovered their full control of
the situation and were marking up prices
and attracting large following with all
the facility which has characterized their
operations for many weeks past. There
was very palpabde manipulation and there
were carefully organized operations to
support the market. Commission houses
which were prominent in bidding up
stocks and which have acted for large
speculative interests all through the re-
cent bull campaign were free lenders Of
money below the rate offered by the
banks, at the same time that they were
buying stocks.
The rumor of the Burlington deal was
rehabilitated and had apparently lost
none of its pristine force, although Of
fetal confirmation was still conspicuously
lacking There was revived credulity in
many other rumors which have already
done good service, including that of the
supposed REIMBURSEMENT of General Elec-
trio capital and the Southwestern rail-
road merger. The settlement of the inter
nal dissensions in the American Smelling
Company, the advance in the price of re-
fined sugars and the absence of any en-
Sc gements of gold for export by to-mor-
rows steamer were all used with effect by
the bulls. Advances reached points in
Burlington, Rock Island and Northwest
EN-, 31s i'm Northern Pacific, in Texas
and Pacific "a In Chicago and Eastern
Illinois, az in metropolitan. 3 in Western
Union, Consolidated Gas 3R, Amalgam-
ated Copper 4, Sugar 2ss United States
| Express 81, Rubber AZ. preferred S19, and
the majority ofrHthe principal active
| stocks from to 2rpoints. Only in one or
! two cases were the gains fully maintain
| ed, reactions running from l to 2%, but
| the market WASH vigorously supported
again and the closing was irregular The
presence of profit-taking was not notably
heavy, even at tire advances. Apparently
| the speculative holders of stocks were
4 determined to hold for a further rise I'M
less they were forced into liquidation by
calling of loans or by wiping out of mar
gins.
The easier money in London to-day les
sened the demand for exchange, and the
rate for sterling yielded a fraction. The
sub-treasury was a debtor at the clear
Inc ~ axr Z. I,a S.ff IN
j37 on account of the payment by the
pcstofice department to railroads for the
transportation of mails Yesterday 8
heavy liquidation also caused some natu-
raj relief to the money market. There
was not lacking a suspicion that yester-
days violent relapse was winked at IL
rot conniyed at by sold out bull leaders
either to enable them to get in at lower
prices or to shake out a weak following
and relieve the condition of over specu-
lation.
The bond market was moderately active
and irregular. Total sales par value 49,
085.OOO. United States old Is coupon ad-
vanced a per cent. on the last cali.
Total sales of stocks to-day were f,345,-
900 shares including Atchison 81 500; do
preferred 12,200; Chicago, Burlington and
Quincy l31,3oO; Chicago, Rock Island and
Pacific $3.50; Erie 5000; Louisville and
Nashville 1880; Manhattan 1880; Metro
politan a,7O0; Missouri Pacific rs. 5OO New
York Central 1900; Northern Pacific S.
800; do preferred 49, 100; ont. and Western
800; Pennsylvania n 100; Reading 600;
do first preferred IT, 400; do second pre-
ferred 1850; st. Paul 239OO; Southern Pa
clfic 1850; Southern railway 1890; do
pi eferred $500; Texas Pacific ST. 100; I'm
ion Pacific 3l,100; do preferred 7,4OO; Wa
bash preferred 300; Amalgamated Cop
per 54,700: Smelling 49, 500; do preferred
1880; Brkoolyn Transit 49, 100; Colorado
Fuel 1000; Continental Tobacco 9.1OO:
General Electric 12.OOO Peoples Gas IA
300; Sugar e0,5O0; Western Union 1880;
United States Steel $500; do preferred
1890.
New York Stock List