The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-05-01
STOCKS AND BONDS.

New York, April 3O.-A nervous and
feverish tone developed in to-day's
stock market, principally as the result
of the extraordinary movement in In
ternational Power with several con-
tributory causes, including a stiffening
in the money rate, the uncertain Incl
dent to preparations for May disburse-
ments, the outcome of the anthracite
labor conference and renewed reports
of the need of rain in the Southwest.
International Power opened at 1877, a
decline of a point from yesterdays close.
1t recovered and then sfumped by sue
cessive stages of from to 8 points to
1853 1t then rallied 20 points, jump
ing as much as 5 points between sales
and fell back again to 1862. Apparent
ly no bids could then be secured for
the stock and it was neglected for an
hour until just before the close, when
a sale was effected at 100. The days
net decline was rs points. Yesterday
the stock sold at 1879. which was the
record price. For many days previous
successive records had been establish
ed. In February the stock sold at So,
and in March the present movement
started below co. 1t has been accom-
panied of late by many out-givings of
large requirements of new properties
by the company and by the payment
of 21a per cent. dividend, which was
called quarterly, after providing for
the preferred stock requirements. The
character of tthe movement has been
viewed with skepticism for some time,
and has attracted very little outside
following. Within a day or two prof
its of many points have been taken on
a few light holdings. The officers of
the company could give no intelligi-
Of fn-HaNyic hannnDinoc
beyond the obvious fact that support
ing orders had been withdrawn. The
closing quotation for the stock was rs
bid and $50 asked. This movement
necessarily had some sentimental in
huence on the rest of the market,
which naturally was most pronounced
in industrial specialties, especially in
those regarding which little definite in
formation is known.
The declines running from 2 to 5R
points in the American Locomotive
stocks, Railway Steel Spring, American
Grass Irvine and Colorado Fuel may
be cited as examples. The higher
grade industrials were not so much
affected, although the United States
Steel stocks continued heavy. Anal
gamated and Sugar were higher, the
latter rising 2 points at one time. Spir-
tied buying of Chicago Great Western,
a rise of over points in Illinois Cen
trail, and over points each in st.
Paul and Rock Island had a sustain
ing influence in the railroad list for
a time, but prices gave way there In
the unsettled state that developed. The
effect of attempts to market stocks
which were previously manipulated
was seen in the six point drop in
Northwestern, 13 in Chicago, st. Paul.
Minneapolis and Omaha preferred and
5M in Keokuk and Des Moines. There
can be no doubt that yesterdays ac-
ton by the clearing house authorities
Chat institutions hereafter admitted to
it's privileges must maintain cash re-
serves, commensurate with those re-
quired of the members themselves).
was regarded as an admonition against
the rate of credit expansion and the
character of some of the promotions
which have been furthered by some of
the trust companies. There was some
calling of loans following the furry in
certain stocks.
The bond market was active and
prices were lower in sympathy with
stocks. Total sales, par value, $780,
900. United States bonds were all I'M
changed on the last call.
Total sales of stocks to-day were L.
057, 900 shares, including Atehison, 34,-
400; Canadian Pacific, 10.100; Chicago,
Indianapolis and Louisville, 1900: Chi
cago and Great Western, II, 300; Del
aware and Hudson. $500; Erie, 5000:
Illinois Central SIS, 200; Manhattan, 49,
700; Missouri Pacific. 30.S00; Ontario
and Western, $500: Pennsylvania, 34,-
100; Reading 4S.300; do I'd preferred,
1900: ST. Paul 152,700; Southern Pa
cific, 10000; Southern Railway, 14,500;
Union Pacific. 32600: Wabash, 1880;
do preferred q, 500; Wisconsin Central,
10, 100; Copper, 1880; American Lin
seed Oil, 800; Brooklyn, 14.100: Col
orado Fuel and Iron, 41,500; Consolida-
ted Gas, 7,100; International Power,
II, 500: National Lead, II. 900; Sugar.
1920; Tennessee Coal and Iron, 1900:
United States Leather. 14,500; United
States Steel. 1890; do preferred, I4,1OO;
American Locomotive, 65, 500; do pre-
ferred. 11.400.
New York stock and Bond List.
Atchlson .-......,-.......... SOK
A 80,