The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-04-25
STOCKS, AND BONDS.

New York, April 24.-The important
Influence of the grain crop prospect
Upon the stock market was again dem
frustrated to-day. After a strong OPEN
ing prices wavered and commenced to
gos back when the weather map was
published, showing almost no rain pre-
cipitation eastof the Rocky Mountains,
but when the wheat markets opened
and Showed an active liquidation there
as declining prices, stocks promptly be-
gan, to pick up again.
The persistent sagging of the price
of wheat was accompanied by grow
ing and broadening strength in stocks,
with the notable demand centered on
the grain carrying railroads. Reports
from the grain market attributed the
weakness there entirely to realizing of
profits on over-extended long accounts,
as no news was forthcoming to indi-
cate better condition in the crop.
Naturally the covering demand from
the short interest in stocks which has
accumulated on the weeks decline also
played considerable part in the spec
ulative movement. But the days
events are striking evidence of the
intimate association at present be-
tween the grain markets and the Sc
curities market. The quick response
between the two is emphasized by the
strong leadership in the stock market
is held by persons of long experience
in grain speculation and heavily com
mitted in the current grain dealings.
There were other factors which con-
joined to help the recovery in stocks.
The annual report of the Lake Shore
Railroad was a palpable influence on
all of the Vanderbilts and indirectly
on the whole railroad list on account
vealed and the prosperous traffic con-
ditions. The disclosure of the pur-
chase by the Lake Shore after large
block of Lehigh Valley stock and adj
mission on the part of the principal
banking house interested in the coalers
that purchases of Reading were made
by New York Central Pennsylvania
and the Goulds was taken as corrobora-
ton of the extensive community of in
terest being established in the whole
coal transportation industry. New
York Central recovered strongly "a
from its recent depression. Lake Shore
itself and Michigan Central, owing to
the small floating supply outside the
New York Central treasury, rose 10
and 1872, respectively, on a very light
demand United States Steel stocks
shared in the strength of the market
for the first time in many weeks, ris-
ing ~ each on account of the very
active conditions in the trade. Atten-
ton was attracted to-day to the enor-
nous expansion of plant in progress,
which, according to one authority, will
add at least 5000 tons daily to the pig
iron product. A variety Of specialties,
including the more important indus
trials all shared in the strength of the
market.
The money market continued easy
with evidence of continued recupera-
ton of the banking reserves. Sterling
exchange continues firm, but is still
short of the gold export point The
easy condition in the money market is
a material factor in fostering the spec
ulation.
The bond market was quite active
and strong Total sales, par value, S.
$4,000. United States bonds all un-
changed.
Total sales stocks to-day were 1885,
$50 shares, including Atchison, 41,500;
Baltimore and Ohio, $500: Canadian
Pacific, 1890; Monon, 14,100; Cleveland,
Cincinnati, Chicago and st. Louis,
$500; Colorado Southern, 500; Erie
%. 100; Erie first preferred, $500; Louis
vile and Nashville 800; Manhattan,
Is, 200; Mexican Central, 600; Missouri
Pacific, 1880: New York Central, 3D.
100; Ontario and Western, IL, 400;
Pennsylvania, $500: Reading, $4,000;
Reading first preferred, 12,1O0; Reading
second preferred, 1920; st. Paul. ~
100; Southern Pacific, 27,8O0; Southern
Railway. 1880; Texas Pacific. 1900;
Union Pacific, SO, 500; Wabash. Il, 400;
Wabash preferred. 24,SOO; Amalgamat-
ed Copper, 39.1OO; Brooklyn Transit
81. 400; Colorado Fuel, l07 800: Consoli-
dated Gas, 30,100; Continental Tobacco
preferred, 800; Peoples Gas, 14l00:
Republic Steel. q 600; Republic Steel
Preferred, $500; Sugar. q. 400: Tonnes
Steel. $4,000: United States Steel pre-
ferred, 57,100; American Locomotive,