The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-04-30
STOCKS AND BONDS.

New York, April 2s.-The movement
of prices was confused and irregular all
of to-day and there was evidence of a
diminishing speculative interest. The
wide movements in high priced stocks
continued feature, but the influence
of the advances was impaired by some
equally notable declines in stocks
where attempts were made to take
profits. a case in point was that of
New York, New Haven and Hartford,
which fell violently nine points on an
attempt to market small amount of
the stock because of the emphatic dis
Chalmers from both Pennsylvania and
New \ ork Central authorities of the
rumors of purchase of control. There
was late rally of several points in
the stock. New York Central and
Pennsylvania also quieted down from
their recent activity and strength. In
fact, there was very little show of
strength throughout the Eastern rail-
road field
The session of the joint committee
of operators and miners to discuss dis
puted points in the anthracite field was
repressiVe influence on all coalers.
The decrease reported in Reading sur
plus earnings for March was an un-
favorable influence. Every heavy de-
crease in net earnings of the Southern
Railway for March was certainly not a
stimulating influence, although it was
accounted for largely by the notable
increase in operating expenses.
The Western railroads, on the other
hand, were benefited by the crop
news and by the weekly crop bulletin
of the weather bureau. which was con-
sidered very favorable, not only re-
garding the condition of winter wheat,
but as to the progress made in seeding
corn and spring wheat. The grain car
rying railroads were also helped by the
special strength of the Northwestern
stocks, which rose 101s and 5A, respec-
lively. Rock Island gained am extreme
SIS, but lost over two of it. The
strength of the Wabash stocks and of
the Wheeling and Lake Erie stocks was
evidently due to the apparent certainty
that the bid of the syndicate repre-
senting the Gould interest for the
Western Maryland will be accepted.
The industrials were marked by quite
as great irregularity as the railroads
and changes there were constant and
variable. A further advance in the
foreign exchange market and a drop
in the rate of sterling at Paris both
contributed to narrow the margin still
remaining from the gold export point.
The money market, however, was still
undisturbed.
Much attention was attracted by the
action of the clearing house authorities
requiring that institutions which shall
be admitted hereafter to the privileges
of clearing through members must first
be established for a year and must
maintain in their own vaults the same
percentage of cash reserves as required
of the members themselves. They will
be required also to furnish weekly
statements of averages for publicati ton.
This action is calculated to put a re-
straint upon the multiplication of trust
companies. 1t is carefully explained
that the requirements are not retro
active, which is to say that they do not
at all apply to the condition of the
trust companies which at present enjoy
the privileges of the clearing house,
although that condition has been the
subject lately of much comment and
criticism, owing to the freedom of the
trust companies from any requirement
of publicity as to their loans and re-
serves.
The bond market maintained a firm
tone to-day. Total sales, par value,
$S,77O,O00. United States bonds, UNI
changed.
Total sales of stocks to-day were
S96,S0O shares, including Atchison, 49,
WV <ANNIlSOH ttOUUs
Pacific, 400; Canada Southern, $500;
Chicago Northwestern, 5000: Chicago
Great Western, $4,000; Rock Island,
$500; Erie, 5,400; Illinois Central, 20, 500;
Manhattan, 200; Missouri Pacific, H.
800; Missouri Kansas and Texas pre-
ferred, 27,400; New York Central IL, 100;
Norfolk and Western, 1000 Ontario
and Western, $500; Pennsylvania, a.
600; Reading, $4,000; Reading second
preferred, 1880; St Paul, IS, 900;
Southern Pacific, 200; Southern Rail-
way, $4,000; Union Pacific, 20, 500
Wabash, 10000; Wabash preferred, "a
100; Wheeling and Lake Erie, 1880;
Wheeling and Lake Erie second pre-
ferred, $500; Wisconsin Central, $500;
Amalgamated Copper 1900; American
Car and Foundry, $500; Brooklyn
Transit, 1,50G; Colorado Fuel 1890;
Consolidated Gas, 800; International
Power, 10400; Republic Steel $500;
Sugar 16.400; Tennessee Coal, 5000;
United States Leather, 300; United
States Steel. 10,700; United States Steel
preferred, $500; American Locomotive.
S01OO; American Locomotive preferred
400