The Savannah morning news., 1902-02-25

STOCKS AND BONDS.

New York, Feb. 24-The stock mar
ket sank back into the professional
traders hands today and there was
no important movement except in a
few stocks of smaller railroads not al
lied to any of the great systems and
IN some minor industrials. The de-
clines established for American stocks
IN London since the close here on Fri
day afternoon had to be faced at the
opening. This caused a lower level
at first than on last Friday, but prices
were at no time down to the London
parity and they soon began to recover,
in spite of the selling on arbitrage on
London account at the advance
The confidence that the Supreme
Court would refuse jurisdiction in Min
nesotaSs suit against the Northern Sc
curities Company, which has been firm
ly held in Wall street for three weeks,
was unimpaired this morning and the
traders, did some of their buying on
that basis. The announcement of the
decision by the court failed to attract
any outside demand and the efforts of
the traders to take their profits caused
reaction in the market and an easy
closing. The decision of the adminis-
tration to push the case against the
Northern Securities Company deprived
the other suit of much of its impor-
possible course of procedure against
the company is closed by this decision
and a step thus achieved towards the
establishment of the company's status
1t is generally felt that all possible
courses of procedure will have to be
met in the same way. The profession
ais who were on the bull side to-day
exchanged assurances that the admin
.istrations suit against the. company
frrl.f l. =
friendly process to establish the true
standing of that company under the
law, and the visit to Washington of
some of the principal -finanoiers inter-
ested was urged as a favoring factor
for the outcome of the cases This sort
of argument was not so convincing, but
that the professional traders kept keen
ly alert to each others movements and
when important selling to realize de-
veloped all turned to the selling side
The largest dealings were in stocks
which moved under individual infiu-
ences. In Sugar the influence was a
disappointment over the measure of re-
lief agreed upon by the Ways and
Means Committee from the duty on Gu
ban sugar. Colorado and Southern
was heavily bought with an advance
of over a point on reports of trans
fer of control. Tennessee Coal was a
feature at an extreme advance of JA
on rumors of a resumption of div-
dends. Dealings in Southern Pacific
continued large, but the movement in
the stock was small
The bond market showed some de-
gree of firmness, but business was not
large, except in Wabash debenture BIS.
Total sales, par value, $3,490,OO0.
United States 3's. coupon, declined x
and the regular advanced Il per cent.
on the last call
Total sales of stocks to-day were
e42,4 400 shares, including: Atchison, 22,-
400; Baltimore and Ohio, 1880; Chi
Cago, Indianapolis and Louisville, H.
500; Colorado Southern, 60600; do first
preferred, 5000; do second preferred,
$500; Missouri, Kansas and Texas pre-
ferred, $500; Erie, $4,000; Pennsylvania,
5000; Reading, 25,3O0; do second pre-
ferred 1880; st. Louis and San Fran
cisco first preferred 200 ST. Paul. - snO:
Southern Pacific, 3S,5OO; Southern Rail-
way, 11,6OO; do preferred, 5000; Union
Pacific, 242OO: Copper, oS,S0U; Alle. iD-.Il
Smelling and Refining, $500; Sugar,
81, 100; Tennessee Coal and Iron, 81. 700:
United States Leather. 1900: United
States Steel, 23,20O; do preferred, 1890.
New York stock and Bond List.