The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-05-27
STOCKS AND BONDS.

New York, May 26.-There was rather
more activity in the market to-day
than during the latter part of last
week, but it was at the expense of val
ues of standard stocks There were
some specialties which made striking
advances, which would have. served as a
sustaining influence n. under ordinary
circumstances. .ArI
Neither was there any bad news to
account for the selling. The days i'm
mediate developments were rather fav-
orable. But the failure of the favord-
BILE developments and of the persistent
hardness of the market to attract any
general speculative demand for stocks
served to discourage some considera-
bic holders. who have tired of the pas
sivity of the market, with the result
that they unloaded considerable lines
o-day. There seemed to be a large
speculative line of St. Paul, Union Pa
cific and less amounts of various other
stocks which were urgently pressed for
sale.
The only immediate news of a de-
pressing character was the spread of
the coal mining labor trouble into some
portions of the soft coal field in Vir-
ginia and West Virginia. The coalers
themselves, however, were little affect
ed. The rate for call money settled
down to a quiet per cent. basis with
out inducing any notable demand in
the foreign exchange market for return
of borrowed money abroad. But de-
spite the relief accorded by the large
sums borrowed on the European con-
tinent and from our own domestic GEN.
tiers, there is some solitude apparent in
financial circles over the future meet
ing of the large obligations which have
been incurred. Bankers are inclined to
nurse their reserve to some extent in
order to strengthen their position
against the future need. 1t is believed
that the trust companies are also dis
posed to build UP their reserves, in
compliance with the intimation from
the clearing house authorities that the
total volume of outstanding credits
ought to have greater reserves back of
them than those included in the banks
reserve alone. The retention of the
exchange rate at the low level, despite
the easing of the money market is the
more remarkable in view of the con-
siderable buying of British consols for
American account. Canadian Pacific
continued it's remarkable advance,
which gave rise to rumors of something
like a struggle for control between the
present dominant interest and the
Northern Securities group.
There were few minor points of
strength among the railroads. Rutland
preferred scored a 9-point recovery on
light transactions. Among the indus
trials, which were as irregular as the
railroads, Pressed Steel Car was con-
spicuous for a rise of nearly points,
without explanation. Favorable news
from the crops, continued increases in
railroad earnings reported for the third
week of May, and generally encourag-
ing news from all branches OF industry
except the coal trade seemed to be ig-
nored in the trading. The market
closed quite active and irregular, but
with many prominent stocks at about
the lowest.
The bond market was rather dull and
irregular. Total sales, par value, $685.
900. United States bonds were all un-
changed on the last call.
Total sales of stocks to-day were
200 shares, including: Atchison, 49,
200; Canadian Pacific, 117,600; Norfolk
and Western, 1000; Reading. 10000: st.
Paul, 22.2O0; Southern Pacific. 9,400;
Southern Railway, 200; Union Pacific,
40 800; Wabash, 5000; Wisconsin Cen
trail. 1900: do do preferred, 200: Anal
gamated Copper. 1880; American Car
and Foundry. 1880; Smelling, 14.500;
Brooklyn Rapid Transit, 10.700: Colo
RADIO Fuel and Iron. 1900: Pressed
Steel Car, S0l00: do do preferred $500:
United states Steel. $3.50.
New York stock and Bond Idst.