The Savannah morning news., 1902-09-05
STOCKS AND BONDS.

New York, Sept. 4.-Partly as result
of the furry in call money, which loan
cd as high as per cent. and for other
potent reasons, the stock market to-
day developed a distinctly irregular
tone. Before the close of the morning
session more or less weakness was
shown a number of the speculative
issues, namely Reading. Pennsylvania.
New York Central, Union Pacific and
Southern Railway. These and other
less prominent stocks fell to a level
generally lower than yesterdays clos
ing prices.
Much of the selling was of a char
acter technically known as good" and
in conservative quarters the opinion
prevailed that the pace of the early
week had been too fast. Trading in
the forenoon was again very heavy.
but the day as a whole was less active
and more clrcumscribed in distribution
| of business. In the face of, these ad-
| verse conditions new high records were
made I'M Baltimore and Ohio Pennsyl-
vnnia, Wabash, Wheeling and Lake
Erie, Pacific Coast, National Railroad
of Mexico, Pittsburg, c., g., c.. and
st. Louis, Sloss-Sheffield common and
preferred and Cast Iron Pipe issues.
The feature of the opening was the
strength and activity of United States
Steel common. Purchases of the stock
were on large scale and resulted in
substantial advance. but the full i'm
provenlent was not maintained The
movement in Steel common was pre-
sumabiy based ON it's strength in Lon
don from which center good buying
was reported for American interests.
Locally London traded in about 40, 900
shares, chiefly Steel common, but sold
on balance. The early decline in Penn
sylvania was followed by a reaction
airy movement in the stock of most of
the Southwestern roads.
There was no news concerning Read
ing and the common stock, on dealings
much below those Of the previous two
days, closed with a decline of 2N
points. Opinions differ as to the ulti-
mate fate of that property, but the
knowing ones declare that it's future
rests with Pennsylvania interests,
who, it is expected, will turn it over
to the Baltimore and Ohio line. Shares
of the latter road, particularly the
common, were active and strong at the
outset, but closed with net loss. A
smart advance in Wabash was attrib-
uted to manipulation by a leading OPP
orator.
The early afternoon saw sharp gains
in Peoples Gas, Manhattan, Virginia
Carolina Chemical, Cotton Oil and
some Of the more obscure issues. The
advance in Gas was accepted as
drive" against the short interest in
that stock. Selling orders in the last
hour caused recessions throughout the
general list, ana the closing, while ac-
tive was weak. In the standard rail-
way group marked weakness was
shown by Norfolk and Western, Lou
isvile and Nashville, Illinois Central
and Union Pacific. in addition to those
already named. Call money opened at
5h per cent, and only comparatively
small amount was placed at the top
figure, the bulk of the loans being made
at from 6 to per cent.
Railroad bonds continued very active
and Irregular. Total sales. par value,
s4.935, 900. United States as registered
advanced u per cent on the last call.
The total sales of stocks to-day were
1,123,600 shares, including Atchison, U.s.
300; do preferred. 1900; Baltimore and
Ohio, 4S,20O; Canadian Pacific, 11,40O;
Chesapeake and Ohio, 400; Chicago
and Great Western, 100; Erie, 1890;
Illinois Central, $500; Louisville and
Nashville 1880; Manhattan, 73, 300;
Missouri Pacific. %, 300 Missouri. Kan
sas and Texas preferred, $500: New
York Central. 20,200; Norfolk and
Western. $4,000; Pennsylvania. $4,000;
Reading, 97,400; do I'd preferred. $500;
st. Paul. q. 900; Southern Pacific, 30
0G0; Southern Railway, 53,100; Texas
Pacific. 5000; Union Pacific. 37.100; Wa
bash, 1880: do preferred, $4,000; Amer
lean Smelling, 5000; Amalgamated
Copper. 1S,200 Brooklyn, 1900; Colo
RADIO Fuel, 1900; Peoples Gas, 3S. 500:
Sugar $500; Tennessee Coal. $500.
United States Steel 1900: do prefer
red, 1900: Western Union, $500.
New York stock and Bond List.