The Savannah morning news., 1902-07-19
STOCKS AND BONDS.

New York, July 18.-To-day was an
other animated day in the stock mar
ket with aggregate sales of over mil
lion shares. The strength and variety
of the market had no new development
to account for them, but the large cap
ital which has embarked upon the pro-
ject of putting up prices and inviting
an outside following pursued their OPP
erations with apparently undated con-
fidence. These operators are apparently
firm in the conviction that the public
sentiment of the country has arrived
at that stage of confidence in the sue
cess of the years crops, the continued
pre- sperity of all lines of industry and
the sufficiency of the money resources
of the country, that the example of
vigorous upward movement of stocks
is all that is needed to induce them to
come into the market and buy stocks
freely and boldly, thus affording me-
dunn for the liquidation of the hold
ings which the capitalists are taking
on in the advance. The leaders of to-
days market were Pennsylvania and
affiliated railroads. Southern Railway
was brought into the movement in q
way to make it appear that closer re-
lations than those now existing might
be in prospect between the two prop
critics. The apparent determination of
the coal miners convention not to make
their strike general was given as rea-
son for the aggressive buying of Penn
sylvania and all the seaboard soft coal
carriers and there was in addition a
very circumstantial assertion that
Pennsylvania had secured control of
Reading. 1t is no new thing in Wall
street that with the approaching disso-
luton of the voting trust now in con-
troll of Reading, there was a large abb
sorpton of the stock with a view to
controlling the board of directors, and
ic has often been asserted that Penn
sylvania was one of the parties to this
contest. No authoritative information
on the subject was forthcoming to-day.
The accompanying advance of New
York Central was held to signify an
acquiescence in the new control on the
Fart of the Vanderbilt interests.
The banks have apparently gained
cash this week to the extent of over
$4,000. 900, of which $1.622.000 was on
sub-treasury operations and the rest by
receipts by express from the interior,
showing the temporary nature of last
weeks unreasonable demand from the
interior. New York exchange at Chi
cago rose to a premium of Is cents.
The grangers did not share fully in
the days strength, but they were by
no means depressed, in spite of the un-
welcome rains in the crop regions and
one or two unfavorable weekly reports
of earnings
The market closed firm, but below
the best except in a few cases.
The bond market was active but the
general list steady. Total sales par
value $3,626,000
United States bonds were unchanged.
Total sales to-day were 1858 900
shares, including Atchison q, 000 do
preferred. 5000; Baltimore and Ohio.
20.400; Chesapeake and Ohio, 10S, 500;
Chicago and Alton, $500; Chicago
Great Western, $500; Colorado South
ern, $500; Erie, 1900: Hooking Valley.
1900; Louisville and Nashville. 1000;
Manhattan. $4,000; Metropolitan, $500;
Mexican Central. 1890: Missouri Pa
cifie. 22S00; New York Central, %. 800
Norfolk and Western. A. 400: Penn
sylvania, &c, 500: Ontario and Western.
$500; Reading, 21.S00 st. Louis South
western, 1900: st. Paul, 1860; South
ern Pacific A. 500; Southern Railway.
20i.600; Texas Pacific, $500: Union Pa
cific, 37,400: Wheeling and Lake Erie,
$500; Amalgamated Copper, $4,000;
Brooklyn Transit, % 600 Sugar, 10000
United States Leather, 10000: United
States Steel, $4,000; do preferred, $500.
New York stock and bond List.