The Savannah morning news., 1902-02-06
STOCKS AND BONDS.

market was dull affair again in spite
of spasmodic efforts by professional
traders and speculative pools to
awaken a general movement in the
market. BY the time they succeed in
moving prices at one point depression
would develop in another, and in con-
sequence the dull movements were ir-
regular all day.
Striking movements in closely held
high priced investments stocks con-
tinued feature. The significance of
these movements was not disclosed, al
though traders sought to make the
most of them for their sympathetic eff
feet on the general list. These APP
parently sensational movements on a
very small volume of trading are a
natural consequence where the stock Of
company is closely held for purposes
of control or centralized in the hands
of a few conservative and powerful
capitalists for Investment who are
quite uninfiuenced by the course of
prices in the open market. Among the
stocks so moving to-day We're the Chi
cago and NorthWesterns, American Elk
press, United States Express and Lack
awanna. Nashville Chattanooga and
st. Louis, which advanced 1912 yester-
day, reacted 3lR to-day, but closed with
net loss of only 2. The recent SEN
sational upward movement in Lacka-
wanna is associated with the rumors of
control of that road in the interest of
an outlet for the Wabash system. The
Wabash stocks We're very firm to-day
iii the same connection. Another. cen-
ter or speculation was in the local trac-
ton stocks, under the influence of pub
lished reports from PHILADELPHIA of the
formation of a securities company to
mold Metropolitan Street Railway stock
and possibly other local traction COM
panies. Manhattan was the most active
OF this group, and Metropolitan Street
Railway, after an upward squirt of u
declined on profit taking, falling TX be-
low last night during the day and pull
ing the other local fractions down with
1t.
The speculation in Amalgamated
Copper was very feverish, the price
running off 13s during the morning on
the further break in the London cop
per market and reports of panic
amongst the bears in Rio Tintos rallied
Amalgamated Copper to ia over last
night, and it was an effective factor in
the late rally in the New York stock
market The speculative pool operat-
ing in Southern Pacific took that stock
vigorously in hand and pushed it up
IA on very large buying. The general
market rallied with some vigor i'm SYM
pathy, st. Paul rising points over last
night and a number of other trans
continentals about a point United
States Steel also developed some
strength just at the close. Other feat
ures of strength were the Toledo, st.
Louis and Western stocks, and the
junior Vanderbilts on rumors of absorp-
ton of the former by Vanderbilt in
terests. Minneapolis. st. Paul and
Sault ste Marie preferred added Az
more points to it's skyward course. The
recent buying of sugar continued, but
its net gain was only a fraction.
The bond market was only moderate
ly active. but was inclined to be firm.
Total sales, par value, $4740,O0 United
States refunding 2s advanced A per
cent. on the last call
The total sales of stocks were 5SS, 100
shares, including Atchison, $780, Colo
RADIO Southern. 1860: do second prefer
red, $500; Louisville and Nashville, g.
900; Manhattan, 1920; Metropolitan
Street Railway, 36,5O0; Missouri Pacific,
$500; Pennsylvania, 1900; Reading, T.
700: St. Paul, q 500; Southern Pacific,
$4,000; Southern Railway, $500; do pre-
ferred, 2.100; Union Pacific, $4,000; Wa
bash, 10000; do preferred, 1920 Anal
gamated Copper. 10000; Brooklyn, 49,
300; Sugar, 23,S00; United States Steel,
1880; do preferred. 1850.