The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-11-01
STOCKS AND BONDS.

New York, Oct 31-The improve
ment noted in the stock market yes
terday was continued to-day and the
list, while still comparatively dull and
narrow, gave evidence of a more hope
full feeling. Trading was still largely
professional and the activity shown in
a number of issues was clearly due
to energetic pool buying. To-days
business was not altogether confined to
operations of this character, however,
many traders taking the long side in
the belief that the trend of events
gives promise of better conditions. Ad-
vances were general at the opening,
the gain in Manhattan being most
.eworthy Baltimore and Ohio was
another strong issue and Erie, Mis-
souri, Pacific, Canadian Pacific, Read
ing and st. Paul rose fractionally. St.
Louis and San Francisco advanced a
point. Little was done in the indus
trial issues at any time during the
day.
Steadiness was shown by a number
of these stocks, however, among them
the United States Steel shares. Louis
vile and Nashville was weak at the
outset and showed more or less pres
sure which could not be explained on
any ground other than that the mi
nority holders may not receive any of
the benefits that are expected to ac-
crue from the change of control. On
moderately large transactions, the
stock made maximum decline of over
points, but rallied, making a net gain
of 1&. Reading was another stock
against which considerable pressure
was shown, but all offerings were
freely taken, and the stock made a
gain equal to that of Louisville and
Nashville. Manhattan was the fea-
ture of the day. both in respect of ac-
tivity and strength. The trading
amounted to 1900 shares and a net
gain of 2$ points was registered. Some
of the very substantial speculative in
terests were said to be back of the
move in Manhattan and one of the ar
guments advanced in it's support was
that the company will show a great
reduction in opening expenses as soon
as its electrical equipment is COM
pleted. Much of the Manhattan buy
ing came from interests that We're
prominent in the recent Missouri Pa
cific pool. A renewal of the demand
for Colorado Fuel was accompanied
by reports that inside differences had
been settled. No confirmation was
obtainable, but observers of the market
regarded it as significant that other
stocks with which these apparently
conflicting interests are said to be
identified were fairly strong.
further hardening of prices was
shown in the late session, and more
traders who sold on yesterdays ad-
vance found 1t advisable to cover their
contracts. Private-wire houses had a
fair supply of buying orders. The
sales of Northwest were scattering
and as on the previous days of the
week appeared to be long stock. The
final hour developed no new features.
though the tendency to further i'm
provement was checked in a measure
by the advance to per cent in the
rate for call money. The closing was
firm, though dull.
A fr1n undertone was shown by the
bond market, but the demand contin-
ued small. Total sales, par value, ST.
$4,000. United States 2's declined II
per cent. on the last call
Total sales of stocks to-day were as
200 shares, including; Atchison, %, GOO
Baltimore and Ohio, 1850; Erie. $500
Missouri Pacific, 1S. 700: Louisville and
Nashville, 1890; Manhattan, 76, 700
Norfolk and Western, 1890; Pennsyl-
wanna, 1880: Reading, SO, 200; st. Louis
and San Francisco, $500; ST. Paul, T.
600; Southern Pacific, $4,000; Union Pa
cific, 25, 600; Amalgamated Copper, s.
700; Brooklyn Transit, $500; Sugar, g.
400; United States Steel, $500; do pre-
ferred. 5000.