The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-01-22

STOCKS AND BONDS.
The Market Closes FeatureIess and
Irregular.

Irregular.
New York, JAM g1.-To-day' stock
market had the same appearance of
Indigestion and somnolence which has
pervaded it of late. The movement of
prices was exceedingly sluggish and
narrow. and the volume of dealings fell
away further.
The net changes are small and
mixed. To understand the character of
the market comparison with previous
conditions will be helpful. This time
last year was a period of constant de-
velopment of projects for combinations
and Capitalization of control on a
scale never before witnessed. There
was progressive advance from month
to month in the volume of the trade
balance in favor of this country. This
and the operation of the currency and
refunding law were rapidly expanding
the country's circulation and provid-
ing financial facilities for the vast
lean expansion in connection with the
great projects in hand. At present the
stock market misses these stimulating
influences.
While there is nothing positively un-
favorable in the outlook, there is a
surfeited feeling from the undigested
mass of last years great projects. The
country's foreign trade balance al
though still in our favor, shows pro-
gT essiVe decline from month to month
compared with the corresponding
months of last year The national
banks, instead of putting out addition
al note issues are retiring their cir
culation up to the monthly limit al
lowed by law, and applications are al
ready on file for withdrawal of circu-
lation sufficient to exhaust the legal
limit into March.
Talk of new combinations is heard,
but only with skepticism and distrust.
There is a latent fear that such COM
binations may be for hostile purposes
rather than for mutual benefit. Ru
mors have circulated for a few days
that all the great banks and trust COM
panies in New York and even the in
surance companies are crystallizing
into two groups along the lines of
cleavage that developed in the finan-
cial battle of last May. 1t is such gen.
eral considerations as these that must
be looked to to gain light on the pres
ent stock market. There was a show
of strength in Sugar and Metropolitan,
hut the gains were subsequently wiped
out. Glucose continued it's recent ad-
vance of a point to-day, but after
wards fell ~ below last night. There
was an active demand for Mexican
Central at an advance of 19s accom-
panied by reports of new bond issue,
and the acquisition of additional lines.
National Salt after a long period of
inactivity was offered down over II
points below the last sale, and then
rallied 8. No explanation was offered
beyond the obstruction of the plan OF
reorganization. The market closed ir-
regular.
Consolidated Tobacco As continued to
make up the largest part of the bond
market and were reactionary. Total
sales, par value. S3,730,000. United
states bonds were all unchanged on
the last call.
Total sales Of stocks to-day were
414,700 shares, including: Atchison,
$4,000; Atchison preferred, 5000; Erie,
10000; Erie first preferred $500; Man
haitian 100: Metropolitan Street Rail-
way $1,000: Mexican Central, 1900:
Mexican National, $4,000; Missouri Pa
cific, 5000 Pennsylvania, $780, Read
ing. 81 500; Reading second preferred,
1890; St Paul, 1i7o0: Southern Pa
ciflc. "a, 700; Southern Railway, 1900,
Union Pacific. 10000. Amalgamated
Copper. iS,600: Smelling. 1900. Brook
Ign, $500; Glucose, $500; Sugar 10.s0O
United States Steel. i0.400 United
states Steel preferred. 1900.
New York stock aud Bond List.