The Savannah morning news., 1902-04-02
STOCKS AND BONDS.

New York, April 1.-The stagnant
condition of the London market this
morning upon the resumption of trad
ing after the four days interval still
further deferred the hopes of the spec
uIative contingent, which has been
counting upon an awakened interest
in the stock market.
The continued absence from the
street of large capitalists and the COM
ing departure for Europe of the CEN
trail figure of the financial district had
a further discouraging effect upon the
smaller traders, who have been pro-
Tossing confidence that the powers in
the money world were going to put
stocks up" The consequence was con-
siderable selling by tired holders and
a dropping market. The sagging ten
dency gradually permeated the whole
list, overcoming the strength of those
specialties which rose strongly early
in the day The leaders in activity
were Colorado Fuel, United States
Leather, Amalgamated Copper and
Sugar. Colorado Fuel lost all of its
gain. which amounted at one time to
IA and closed with "a fractional net
los. Sugar was under pressure, and
the United States Leather stocks did
not fully maintain their advance.
AmalgaInated Copper, however. was
persistently firm. and closed at the
top with a net gain of 2 points. Re-
ports of the consolidation of the cop
per proper ties of the principal rival
interests made the bears in the stock
timid and they covered heavily. A
judicial decision upholding the New
York franchise tax weakened the New
York public utilities and caused some
sympathetic response elsewhere. De-
creased earnings reported by the
American Car and Foundry Company
depressed that stock. The Coalers
were affected by the announcement
representing a reduction of so cents per
ton from the winter schedule was in
force to-day instead of being post
poned until May l as was expected.
TIE fact that the dispute with the
miners Is still open was an additional
slfluence.
The money market was easier both
for call and time loans and the large
disbursements payable to-day are ex-
pected to increase the resources of the
market. To-days dividend disburse-
ments were estimated at upwards of
$50, 000 900. The London market was
also easy to-day and sterling exchange
at Paris recovered a fraction, so that
the advance in sterling here left a mar
gin still between the market and the
gold export point. This influence
SSIfl6Q 10 -tD6 nlBOTCN, HOWGNSIs dS IIlG
ease of the money market Is not ex-
pected to prevail for any length Of
tim. The British loan will soon be
announced and foreign banking houses
in New York expect that there will be
American subscriptions which will in
crease the demand for remittance in
addition to the natural attraction for
gold, which will result from the har-
dening of the Lordon money market.
The security of the New York money
market from future complications is.
therefore. not clear. and this continues
to be a repressive influence on specu-
lation.
The bond market was less active, but
generally steady. Total sales, par
value, SO, 480. 900. United States bonds
were all unchanged on the last call
Total sales of stocks to-day were
439, 500 shares, including Manhattan,
$780, Reading, &C. ZOO Reading second
preferred, $500; ST. Paul, Ill, 100; Union
Pacific, 5,400; Amalgamated Copper,
81, 900; American Car and Foundry, 49,
100; Brooklyn Transit, $500; Colorado
Fuel, $4,000; Sugar $4,000; Tennessee
Coal, 5000; United States Leather 3d.
900: do preferred, 14,300; United States
Steel, 9.400; do preferred, 1900.
New York stock and Bond List.