The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-04-22
STOCKS AND BONDS.


other day of very active and varied
speculation in stocks to-day, but the
campaign for the advance received
rather a severe check. The day started
off with indications of a repetition of
the successful tactics adopted last
week, of heavy buying at some new
points to offset realizing at others. IT
so happened, however, that the stocks
in which realizing was attempted,
namely, the Western and Pacific
stocks. were acutelys depressed by the
threat of harm to ~the crops and by
the leave granted to the state of Wash
ington to file SUIT. in the Supreme
Court against the Northern Securities
Company.
The leaders of the campaign for the
advance recovered their position to
some extent late in that day by
a vigorous buying movement in South
ern Pacific up to 69Ac and in Read
ing and Mania ttan, which were lifted
respectively Az and SIC over Satur-
day. This induced a general covering
movement in the whole market and In
substantial rallies which materially re-
duced the losses, but still left prices
generally below Saturday. The set
back came in the face Of promising
auspices for the advance. The Louis
vile incident seemed to have convinced
some of the large Eastern banking in
terests that the time was ripe for an
advance, although they had been in
clined to depecate the movement in
augurated by Western capitalists as
premature on account of the uniformed
prospects for the crops. The steamship
merger was accepted as additional in
dication of the confidence of large cap
ital in continued prosperous conditions
The result of the days operations in
the market showed the Importance of
the outcome of the crop situation. The
reports of hot winds in the winter
wheat belt did not seem to greatly af-
feet the grain market but the simple
recital of the temperature touched at
points in Nebraska, Missouri and
Kansas was sufficient to cause re-
Election of anxiety in the stocks of the
roads running through that region
The weekly statistics of railroad traf-
fic reporting a decline in the merchan-
disc movement to the Southwest were
regarded as confederation of the threat
of harm to the crops. Scattered re-
ports of showers may have had to do
with the late rally in the market An
incident of the day was the demorali-
zation in the silver market, which car
ried silver bullion to soy cents an
ounce compared with the previous low
record of 5lA on Sept. /. 1897, when
Japan adopted the gold stands4d. The
slump is said to be due to selling by
China as necessary incident to the
payment of the indemnity to the pow
ers.
The strength of Reading and Man
haitian was due to buying by the same
brokers who were heavy buyers of I'm
fnr1 Do. Frr-o
rumors of absorption of Reading in
Pennsylvania interest. The movement
was foreshadowed by the circulation of
Arguments on the intrinsic value of the
property The market closed active
and about steady. New York Air
Brake, International Power the cleo
trio stocks, Keokuk and Des Moines
and Nashville. Chattanooga and st.
Louis made sensational and unex-
planned advances.
The heavy selling of Union Pacific
convertible bonds was the feature of
the bond market Total sales par
value $6,5S5, 000 u. S. bonds were all
unchanged on the last call.
Total sales stocks to-day were $685..
800 shares; including Atchison 1890:
Atchison preferred, 1880; Baltimore
and Ohio, l4,300 Canadian Pacific, "a
100; Cleveland and Ohio, 6,l0O: Chica-
go and Alton. 1900; Chicago, Indianap-
oils and Louisville. $500; Chicago and
Great Western, 300; Chicago Termi-
nal and Transportation, 100; Chicago
Terminal and Transportation preferred.
$780, Colorado Southern, 1000: Erie,
%, 400; Erie first preferred, 6,10O; Illi-
nois Central, $4,000 Louisville and
Nashville, 1000; Manhattan, 81 800:
Metropolitan, 100; Mexican National.
t. r., $4,000; Missouri Pacific, Al 500:
New York Central. 10000 N. and w.
14,200; o. and W., 1890: Pennsylvania,
25.S00; Reading, 414.400: Reading first
preferred. 5000: Reading second pre-