The Savannah morning news., 1902-04-12
STOCKS AND BONDS.

New York, April 1.-THE fears of a
corner in Louisville and Nashville were
somewhat abated to-day, which seemed
to be the principal factor in the ten
dency towards recovery in the mar
ket.
Speculative sentiment showed itself
sensitive, however, to the movements
in Louisville and Nashville. Thus,
when very large buying appeared in
other parts of the market and when
Louisville and Nashville ran off to Ia
under last night there was a prompt
rally elsewhere in the market. This
see-saw process was more or less con-
spicuous all day, especially at periods
when Louisville was particularly ac-
tive. The market for the stock con-
tinued very feverish on an enormous
volume of dealing, but the fluctuations
were by no means so wild as yester-
day.
There were indications that the
money powers back of the movement
were disposed to handle it more ten
derby out of consideration for the eff
feet upon the rest of the market. The
stock touched 1924 at the top and
closed with a net gain of rs. AS for
Southern Railway, it fell back to a
position uniform with a number of
other active stocks in the market and
moved narrowly.
The strength which the market show
ed as a whole was by no means uni
versal or evenly distributed. The gov
eminent crop report caused some de-
preston here and there amongst the
grangers, which was overcome. Anal
gamated Copper was consistently
strong and rose nearly 3 points at the
last. The return to the city of one
of the principal stockholders and di-
rectors was imputed as the cause of
the movement. Chicago, Indianapolis
and Louisville ran off sharply points
on the declaration of only a / per cent.
dividend as there had been no hopes
of more liberal distribution. The
stock made a feverish recovery of part
of its decline. The United States Steel
stocks were heavy on rather free SELL
ing, attributed to dissatisfaction with
the bond issue and the large proper
ton of the cash to be realized, which
will go to the bankers as commission.
The generally credited report that the
purchase of the Choctaw Oklahoma
and Gulf was in the interest of Rock
Island and was followed by a 212 point
rise in that stock, but the dealers were
merely nominal and the gain was wiped
out. American Cotton Oil, Interna-
tional Power, North American, Michi-
gan Central and Westinghouse Elec-
trio made gains of nearly points or
upwards. Some of the buying of the
day was based on the prospect that the
bank statement tomorrow will show
an improved condition by the clearing
house institutions. The expectation is
general that the banks will show a con-
traction of loans, as loans in the stock
market have been called during the
week The action of the Treasury De-
partment in increasing deposits with
National banks upwards of COG
with the assurance of further monthly
increase in proportion had favorable
effect upon sentiment, although there
was no immediate result apparent. The
peace rumors from London were prac-
tically ignored.
There was great activity and
strength in the Central of Georgia in
come bonds and the Mexican Central
income bonds. Otherwise the market
was somewhat irregular. Total sales
par value $5,705, 900. United States
rs advanced Il per cent. on the last
| call.
Total sales of stock to-day were 1856,
300 shares, including Atchison, 14600;
Baltimore and Ohio, 1920; Canadian
Pacific, 22,S00; Chicago, indianapolis
and Louisville, 22,500; Erie, 7,400; Louis
vile and Nashville, 1876, 900; Manhattan,
IA, 100; Mexican Central, 800; Penn
sylvania, 1900; Reading, 31,700; st.
Paul, 29,800; Union Pacific, $4,000;
Amalgamated Copper, $4,000; Interna-
tional Power, $500; Sugar, $4,000;
United States Steel. 27,100; United
States Steel preferred, $500.