The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-03-18
STOCKS AND BONDS.

new 1Ork, March 1.-THE general
speculative sentiment in Wall street
was good deal encouraged by the i'm
proved condition of the money outlook
as disclosed by the Saturday bank
statement.
There was no absolute improvement
in the condition of the banks disclosed
by the document but there has been
more or less dread last week that the
surplus reserve would be entirely
wiped out by the many drains upon the
cash reserves. The large loan contrac-
ton effected as an offset to this drain
and the absence of disturbance in the
market. while this was being done dis
sipated a good deal of the anxiety felt
over the money outlook. 1t was this
consideration that prompted the pro-
fessional traders to bid up the opening
prices for stocks.
II developed, however, during the
course of the day that the profession
al contingent still make up the market,
to large extent, and very little fol-
lowing was attracted by the advancing
tendency of the market The principal
operations also We're inclined to revert
to the industrials and specialties. This
was partly due to the fact that no re-
Taxation was apparent in the interest
rates. Call loans ruled at 4 per cent.
and over. This was rather convincing
confederation of the superstition that
the showing of the banks on Saturday
was due to a shifting of loans to other
institutions rather than to their can
collation.. 1t was seen also that the
total of the loan contraction was ac-
counted for by the decreased loans of
less than half a dozen of the large New
York houses.
Amongst the Gould stocks and the
HX.r oefe .fs1aQ
some agreement in a, show of agree
ment. A hopeful feeling In regard to
the winter wheat crop, a reported in
crease in earnings by Wabash for the
second week in March and the preva-
lent gossip over the acquisition of the
Western Maryland Railroad all con-
duced to this strength. There was SOME
profit-taking in Manhattan, but it con-
tinued to show strength on large deal
ings in common with the other local
fractions. Baltimore and Ohio and its
related soft coal carriers showed
strength. Outside of this the advances
in the railroad list seemed to be of
special character as were those by the
industrials. Sugar showed increasing
strength during the day and rose late
2Ac over Saturday Other striking
gains were in local gas companies. the
electrical companies, Continental To-
bacco preferred, Minneapolis, St. Paul
and Sault-ste- Marie preferred and Rut-
On the other hand there were num-
land preferred.
Der of sharp relapses from recent high
prices amongst obscure railroad and
Industrial stocks. The liquidation in
Amalgamated Copper continued very
heavy that stock leading the list in
point of activity. Doubt over the main
tenance of dividends caused the selling
and little support was accorded il. AT
an extreme decline of 31z the stock
touched 61h, only about a point above
the lowest recorded price. The last
price was fraction higher. The last
prices We're generally below the best.
also a movement to take profit in the
final hour. but the closing was steady.
Wabash debenture BIS were active
and strong, but the bond market gener-
ally was rather quiet and irregular
Total sales par value $3.50, 600. United
States bonds were all unchanged on
the last call.
Total sales of stocks to-day were
6o4,30 shares, including Atchison, 1900:
Baltimore and Ohio. $4,000; Canadian
loacidc. 5.2oo Chicago. Rock Island and
Pacific, 500; Colorado Southern, $500;
Manhattan, 2s,6O0; Missouri Pacific.
10, 100; Reading, 23,S00: Reading second
preferred II 800: st. Louis Southwest
ern preferred, 500: st. Paul, $4,000;
Southern Pacific $4,000: Southern Rail-
way, $500; Union Pacific, 1900 Wabash
preferred 10.600 Amalgamated Copper,
&c. 800; American Linseed Oil preferred,
6 500 Brooklyn, 1S,l00 Consolidated
Gas 1880: Continental Tobacco pre-
ferred, $500; National Biscuit, $500;
National Lead, 500: Sugar. 27,2O0:
United States Steel. 27,600; United
States Steel preferred, 21,6OO.
New York stock ana Bond List.